Mallorca Villas - Property Market Review September 2010
The reality is that this particular market has been hit a lot less hard than the
press and the doom mongers would have you believe but overall the biggest problem is finding an agent who can bring buyers and sellers together to make a Mallorca Villa property deal actually happen.
There is a lot of talk about distressed sales in Mallorca but the reality is the people who were really distressed have already sold and now the sellers who are left are not so desperate to sell which is fully understandable however up to the 2M Euro mark it is still possible to find realistic sellers rather than those who have just put their prices up because they know that some buyer is going to make a ridiculous offer and are hoping that if they increase the price enough they may get an offer they can accept. This is obviously not the best way forward and very rarely helps the owner sell his property.
Mallorca Villas offer a very wide range of style and choice from 750,000 to 25M to beach front to fabulous inland castle style fincas. Also once you start getting past the 2M mark it is much harder to get the same discounts that you can get on the cheaper properties.
So what type of discounts is realistically achievable in the current Mallorca property market? The reality is if you find a willing seller who has priced his property to sell you may get 25% off a 2008 valuation i.e. after the market crashed but again it's more a question of knowing what is value for money and what sellers are being realistic in this market.
If you're interested in buying a Mallorca Villa I would strongly recommend you choose and agent that you can trust who has a proven track record of bringing buyers and sellers together to make deals happen and also know the best Mallorca bank repossessions and distressed sales in Spain.