Sporting events help to boost Spanish property market

An influx of sporting events in Mallorca is expected to have a profound impact on the region's property market, it has been suggested.

The Balearic Island is already known as the birthplace of tennis star Rafael Nadal, while it was recently named as both the start and finish point of this year's Global Ocean Race.

Added to this, the possibility that Mallorca could become a host city for Formula One is sure to attract investors to the region and tempt individuals to buy property in Spain.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, explained that the region was already in a good location and contained much quality property so further international events are likely to just add to the appeal.

"Mallorca's property market has not been affected by the world recession like some regions in mainland Spain. We have had to review prices but due to the lack of stock available compared to the demand for homes on the Island the market has remained really quite buoyant," the expert added.

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