Demand for Mallorca property 'boosted by world-class events'

Mallorca is a popular destination among property investors, but one expert in Spanish real estate has pointed out that world-class events hosted on the island help drive its appeal.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, explained that festivals and competitions attract an upmarket crowd to the Balearic island.

"The great thing is that world-class events, combined with a great social programme and stunning natural beauty helps increase the demand for rental property with good locations and quality builds always selling well whatever the market conditions," he stated.

Meanwhile, managing director at Spanish-Living.com Adrian Warriner recently noted that property prices in the Balearic Islands tend to hold up better than those on mainland Spain.

He cited figures showing that real estate values across the Balearic and Canary archipelagos fell just 2.5 per cent between July 2010 and the same month this year.

This is significantly better than the national average, with a 6.4 per cent decline recorded nationwide during the same period.
 

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