Living Moments - N°1 Edition 2013

7TaTYR 8ZXPY_^ Edition 1 · 2013 164 The real estate market in Mallorca currently pre- sents a completely different picture! Why is this so? Mallorca was and is the dream destination for many people in Europe.With more than 280 sunny days per year, perfect infrastructure, excellent accessibility from all European airports and an absolutely safe political situation, there is no noteworthy alternative to this largest of the Balearic Islands in the Mediterranean. The crisis has led to a consolidation of the market since 2008. Particularly in terms of location and quality, the wheat is separated from the chaff, and even the most varied outlooks of the prop- erty owners have contributed to a market adjust- ment, which reached its balance or its “base” in 2011 and 2012, respectively.While it was more the Brits and the Spanish people themselves who, in the times of the housing boom since the mid- 90s, bought their holiday residences on the is- land with the most debt possible and the highest mortgage financing and weren’t able to hold onto them due to the effects of the crisis after 2008, we find only a firm market today, particu- larly in the premium segment and at the presti- gious locations in Mallorca, which hasn’t known pressure to sell and which has simply sat out the crisis on grown assets. In this segment, price de- creases within a marginal range of 5-10% were evident after 2008 until 2012, whereas for the bad locations and for sellers who were under eco- nomic pressure to sell, reductions of up to 30% or 40% were possible. A bankruptcy of Spain which had been artificially exaggerated and communi- cated, such as was recently the case with Portu- gal and Greece, led, especially in the last year, to new scepticism and purchase retention in the buyer’s market, which had waited in vain for a considerable fall again in property prices on the island.We, as experts, with more than twelve ye- ars of practical experience in Mallorca, can only say that the bottom of the economic recession has long since been reached and consolidation took place a long time ago. At this very moment, when the seller’s market with a more wide-rang-ing portfolio is waiting for genuine buyers and lovers of a valuable piece of real estate, the market offers unexpected possibilities – but in particular condi- tions, which one will long for in three to five ye- ars, saying with everlasting regret “… had I just invested then, …”The current market in the island offers unexpected possibilities for chances and opportunities to make a smart investment on a realistic level which will grow in value. You just have to take a close look! What innovations are we to expect from Private Residences in the coming months and years? What are your goals for the future? As we have been working in some of the highly competitive markets for many years, facing permanently growing competition in economic- ally unnaturally turbulent times, in which only the best and most efficient market participants “The current market in the island offers unexpected possibilities for chances and opportunities to make a smart investment on a realistic level which will grow in value. You just have to take a close look!” Experten im Interview Experts Interviews