Palma.—The average price of a property in the Balearics is set to fall by 2,2 percent this year compared with 2013. While prices are set to go up on a national level by 1,4 percent- the first rise since the “property bubble burst” of 2008- prices in the Balearics will continue to decline, which is set to attract more investors.
Property prices are also set to go down in Navarra (-1,5), Cantabria (-1,3) and Basque country (-0,9).
On the other end of the scale are the Valencia Community, Murcia and Galicia, with prices in the first two expected to grow by over three percent.
According to the same report, this year’s increase in prices is seen as a result of recent demand. Investing in real estate hoping to cash in at a later stage seems to be attracting a large number of investors, 16 percent of them are foreigners.
Price of Balearic properties set to fall next year
26/11/2014 00:00
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