A good time for Buying Property in Mallorca

Following the 2008 financial crisis, which has lasted for a period of five years, the Mallorca immobilien market has stabilized. At the luxury end of the luxus immobilien Mallorca estate market, the demand has been growing, although this is not the case on the other end. For persons owning properties, it is certainly good news considering the 3 to 5 percentage increase in prices over the recent years. Generally, majority are seeking for family houses with great views, privacy, as well as private swimming pools. With its diverse landscape and wonderful climate, Mallorca has never been short of such properties, which are close to fine shopping facilities and good restaurants.

With the growing reputation and outstanding transport links, there is something all, hence, a great opportunity for buy-to-let property. Take time to walk around the islands before making a decision regarding the location, not forgetting that agents only work for a specific area. There are great stone houses around Palma although prices at premium because of their proximity to the Palma and the airport. New roads lead to the interior of the island as well as to the northwest and these have resulted to property boom, with coast representing the best value for your money. This is mainly attributable to the sea view, which is a goldmine considering the new legislation stating that development can be as close as twenty five meters to the coast.

The best time to purchase real estate property in Mallorca is now. There is extremely broad spectrum of standards, from plots and farmhouses through top villas, new apartments and townhouses developments. In Spain, there is a shortage of agents, and searching for a good company that cares for your need pays a lot. Before purchasing a property look for Mallorca immobilien site to have a look at the various areas then consider paying a visit.

In Spain, Mallorca immobilien agents are lightly regulated; hence the need of making sure the agent of choice is professional and display great knowledge of the property market. Most are generally multilingual and tend to based regionally. The properties’ prices quoted by the agents usually include their commission, which is approximately five percent of the total value. When it comes to taxes and fees, this is worth noting. In Mallorca, buying Mallorca immobilien is bureaucratic and professional advice is recommended in the form of property lawyers. In Spain, potential foreign property owners should obtain NIE number.

It is important to explore mortgage options before commencing on property searches. With this, one will not be under pressure in finding the best mortgage in any circumstance. As an additional precaution, the vendor is liable for all defects and damages, and the buyer can with draw from such transaction at the expense of a later. For properties around the coastal areas, the law meant to protect the coastline rendered such areas public, and hence luxus immobilien Mallorca owners cannot sell them. Therefore, it is advisable to check with the office of the local government for state boundary to determine whether a property is truly privately owned.

Find more information relating to Mallorca Immobilien, and Villa Port Andratx here.