The Spanish property downturn has not had much of an impact on Mallorca. Unlike Spain’s coastal regions, Mallorca, primarily a lifestyle destination, has never attracted speculative investors but has retained its position as a popular destination of choice amongst discerning international property buyers.
Compared to the mainland coastal areas, there is an even balance between supply and demand in Mallorca. At the same time, Mallorca’s local authorities are constantly tightening planning laws why supply is becoming more limited.
There are many reasons why Mallorca has become a favourite destination and why several international celebrities have bought property on the island. To mention a few, the island has 300 days of sunshine each year, more than 20 golf courses and over 30 marinas, as well as some of the most stunning landscape in Europe.
Foreign residents account for 22% of its 855,000 inhabitants and apart from the climate, Mallorca is a sophisticated and easy place to live permanently. The island has 10 international schools, direct flights from all European capitals and 4 Michelin-starred restaurants, attracting families looking for the ‘ideal’ lifestyle. In addition, an estimated 60,000 foreigners spend three to six months each year in their second homes.
Mallorca is very protective of its image as a quality tourism destination. Over the next two years, €18 million will be spent on maintaining beaches and sand dunes as well as on introducing wooden decked pathways. In 2010, Mallorca will be awarded 41 Blue Flags over its beaches and a further 17 for its ports and marinas.
Recent road and rail improvements add to the island’s appeal. Palma has a first-class underground system and there are plans to extend the already existing rail links. Mallorca is one of the easiest places to fly to from all over Europe: most capitals are just a two-hour flight from Palma, the third busiest airport in Spain and further expansions of the airport is planned.
As a medium to long-term property investment, Mallorca is hard to beat – an outdoor Mediterranean lifestyle, a safe, family friendly culture, superlative healthcare and sophisticated leisure choices.
Explore Majorca property for sale by International Luxury Real Estate.
