Majorca property for sale with Balearic Properties in mallorca

Buying Majorca Luxury Property

Property in Majorca was mainly fuelled by average, middle class investors trying to make some extra money by investing in majorcan property. This type of investor has long since disappeared partly due to the credit crunch, higher interest rates and the strong Euro. These individuals relied upon obtaining a mortgage to buy their investment, which has now become much more difficult and expensive. This is not the case for the cash rich investor who does not rely on mortgages or credit. The former Eastern European countries have seen an incredible economic growth in the past decade, creating many new millionaires. These investors want to buy top of the range villas in the best locations. Therefore the property market is still strong in areas such as the Southwest, the North, the East and the Southeast of Majorca.

The real estate Market in Majorca

We are all aware that the property market here on Majorca has been stagnant for more than just the ‘credit crunch’ months. We all probably know of someone who has lost their property despite all their best efforts, or we know people that are struggling. Let’s be truthful, unless you are fortunate enough to have a healthy bank account to cushion the blow then you too will have felt the effects of the current economic climate in some way. But Majorca will always survive… why? Well despite a lot of thought to the contrary, the UK property purchaser does not fuel the Spanish market, which is excellent news for the Spanish. It is a pretty large chunk of it yes, but the purses of the other property purchasers on Majorca are a lot larger than that of the average UK purchaser. Find more Majorca buying tips

Property Prices in Majorca

Property here was so overpriced a few years ago it was a foregone conclusion that the bubble would burst, and burst it did, with a credit crunch on the tail end of it, but Majorca will always be an affluent area not completely dependant on the property market. It is a cosmopolitan island that is well established in high society, where people come to either base themselves permanently, run their international businesses, or have their lovely holiday home. Whichever one it is, they all ensure the future of Majorca. Find more articles about property for sale in Majorca

Taxes in Majorca

Tax incentives are now in place to attract buyers back to Spain. With the introduction of tax cuts on Income Tax which previously was 35% this has now been taken down to just 18%. This change will mean for many individuals less worrying about paying taxes on worldwide assets, if their income is coming from investments, dividends or capital gains.

Balearic Properties Real Estate
Website: www.balearic-properties.com
Via Pollentia 3
Phone: +34 971 53 22 21
Fax: +34 971 53 45 06

Important property links:

Mallorca Properties

Mallorca Property for sale

Mallorca Mortgage Information

Mallorca Property Viewing Tryp

Puerto Andratx - Majorca Properties

Mallorca Property