Mallorca Property Market Update – October 2008 (page 4 of 4)

Areas at the top of the recommended list are, therefore, probably ones you have already heard of: Pollensa Old Town and Puerto de Pollensa in the north, Palma Old Town and Santa Catalina, Puerto de Andratx, Port Adriano and El Toro / Santa Ponsa on the SW coast, Puerto de Soller and Soller Old Town in the NW, and the good resort towns on the east coast such as Cala d'Or and Portocolom.

Within these areas, focus on properties that are in a good location (views, nice countryside, good part of town, premium developments, good accessibility etc), and those which are high quality properties or can be renovated to a good standard.

Don't expect such properties to come at the sort of bargain knock-down price reductions we are seeing on mainland. But you can expect some negotiation and there will be some good deals to be had on properties that should be excellent investments for the future.

What you need to consider is how much these properties will start escalating when the economic environment improves, and how advantageous it will be to get into the market now rather than leave it until then. Our tip as to the best time to buy is from this November through to mid-March next year (i.e. before the holiday season and main buying period gets under-way).

If you are interested to discuss in more detail please do not hesitate to email or call. We can then keep you updated on the opportunities that might be of interest as they come up.

Kevin Reeves
Mallorca Property Partners
info@mppsearch.com