Spanish Property Market Registers Slight Increase

majorca_property_marketAfter a record-breaking month in August in terms of tourist numbers, it seems that the appeal of the Spanish peninsula is on the increase, and this also applies to other territories such as the Mallorca real estate.

Nearly 8 million people visited Spain this year in August alone, which represents 9.4% increase over the same period last year, and now local real estate agencies report this has had a benefic effect on the Spanish real estate market.

Kyero.com, Spain largest English-language property portal reveals that the national asking price for property in Spain increased from €263,000 in June to €266,100 in September, which can only mean a higher interest in real estate.

The top regions which have garnered significant attention according to Spanish developer Taylor Wimpey are Costa Blanca, Costa Calida, Alicante and Murcia. The reasons for this are “Alicante, for instance, has experienced improvements in its infrastructure, seeing a second airport terminal open, which is always good news when it comes to attracting more visitors” says Marc Pritchard, sales and marketing director for Taylor Wimpey.

Meanwhile, Mallorca comes in at number 3 in the top of highest average asking price in Spain at €416,300 which is due to the high popularity of the island, the good infrastructure, the fantastic beaches, the year-round good weather, the golf courses and the popular events which take place here, such as Global Ocean Race 2011-12.

So Mallorca remains a good real estate opportunity, but only for top quality locations which seem to hardly devalue overtime (if they do at all) despite the economic crisis in other European countries.

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