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Buyers 'confident' in Mallorcan property market

Date : (News Section: Spain)

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Buyers 'confident' in Mallorcan property market
Overseas buyers are confident about the state of the Mallorcan property market and believe it will improve.

This is according to Marc Pritchard, sales and marketing manager at Taylor Wimpey de Espana, who explained growing tourist numbers and the favourable exchange rate between sterling and the euro are encouraging.

"In spite of what is happening in Spain, many property investors still hold confidence in the market, recognising the Mallorcan property sector as one of the most resilient," he asserted.

He went on to cite data from the Bank of Spain, which revealed the level of foreign investment in the country increased by 2.4 per cent through March this year, compared to the same timeframe in 2011.

International mortgage provider Conti recently told Mortgage Introducer that buyers often require a smaller deposit when making a purchase in locations like Mallorca, other Balearic destinations and the Canary Islands, than they do in mainland Spain.
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Article by +Peter Mindenhall on behalf of Propertyshowrooms.com

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