A file picture of one of the many luxury properties in Majorca.

A file picture of one of the many luxury properties in Majorca. | M.M.

Humphrey Carter29/01/2014 00:00
TW
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Confidence is finally returning the to real estate market with foreign investors and developers having decided that now is the time to cash in on the Balearic property market.

Palma.—According to the region’s real estate companies and the Property Registry, the Balearics last year  led the foreign property investment market in Spain and that trend is forecast to continue this year.
The British, German, Russian and Scandinavians were the largest markets and, according to the international estate agent Engel & Völkers, last year demonstrated that buyers are now prepared to invest money once again in holiday homes  since the crisis began and the average being spent this  year, outside of the southwest region of Majorca,   is in the region of 750,000 euros.