As numbers of tourists have been unusually high this year in Mallorca, setting a record even outside the regular season, specialists agree that the property value on the island will surely increase.
As seen in past years, high numbers of tourists brought about higher prices for property in Mallorca for sale and since 2011 was a good year for local tourism, real estate specialists are taking into consideration the fact that prices in the property market might increase too.
From the millions of travelers that arrive in Palma this year alone, there is a significant amount of people that fell in love with its Balearic charm and are taking into consideration buying a property here. At the moment, old building conversions seem to be the most popular, because it’s probably cheaper than newly-built homes on the beach. However, that does not deter the foreign nationals who are said to prefer the one-off homes which are located in the center of town and thus in the middle of the action.
Meanwhile, on the mainland in Spain, there seems to be a new wave of Russian investors which are right now focusing on the Marbella region which is located on the southeastern shore of the peninsula, near other important touristic regions such as Estepona or Malaga. Although still not as large as the German or British exodus that has created strong communities in the Balearics and the mainland, the Russian trend will surely give way to a new increase in the property market on the islands and possibly even on the continent, where the prices have been affected by the economic crises.