Over the past 18 months the property market in Europe has been a bit unstable, mainly because of the fluctuating Euro.
£200,000 in early 2007 would have returned a currency transfer of 1.41 to the £; meaning an exchange of 282,000 Euros. Currently the exchange rate is poor and the same £200,000 would only exchange at 242,000 Euros.
This scenario has left many property buyers in 2008, especially in Spain a little skeptical on whether to purchase now or leave it for a later date.
That said … Majorca has turned out to be a diamond as far as property purchases go. It would appear according to figures released that estate agents across Majorca have confirmed that trade has remained brisk throughout 2008.
What does this mean
The economical answer is to be found in the confidence of the market; or more specifically that the Majorca Property Search satisfies the searcher. The properties in Majorca are no better than Spain or Europe, but are selling better.
The answer for the potential viewer or potential purchaser is that Majorca itself is the key. People want to buy Property in Majorca more eagerly than they do in mainland Spain. Majorca has qualities, views, countryside, facilities, amenities, beaches and lifestyle not easily matched in mainland Spain. So people can buy property in Majorca with confidence knowing that buying property today will sell again for a good price in the future no matter what state the European market is in.
Such confidence is rarely found and amazingly ‘Majorca’s Properties for Sale’, is and can be confirmed as an exception to the rule in property sales. When the property market across Europe is in a slump; Majorca remains buoyant … an amazing fact but true.
If you ever needed confirmation that Buying Property in Majorca was a good idea these facts back up your intention.
Brits, Germans, French and the Danish are all great lovers of Spain and have in the past 20 years have contributed to development of immense proportions. Today a lot of those newer developments are only part finished as the property slump takes full effect on mainland Spain.
However for the shrewd property buyer… This injection of confidence via figures from Majorca Property Estate Agents, confirming they have been buoyant through 2008 can do nothing other than improve the market in Majorca. But buying property in late 2008 and through 2009, before the rest of the European market regains its confidence; will be seen as advisable. Otherwise we will see discounts on purchase prices in other European destinations as sellers need to sell their properties. Tempting as they may be, we must see that ‘property buyers’ prefer Majorca and will continue to do so; making resale value of anything you buy remain high.
Any astute buyer will see these signs for the Majorca Property Market as a good long term investment strategy and secure both peace of mind and reassure buyers that Majorca is the best European province to buy property in.