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The only way is up: Balearic property prices soar
The Balearic Islands have become one of Europe’s most cutting-edge and desirable property hot spots, with the international rich flocking to invest in state-of-the-art villas, says Zoe Dare Hall
After seeing a 20-30 per cent dip since the worst of the recession, Mallorca’s property prices rose by nearly five per cent last year, according to Chesterton’s Overseas Research and Lifestyle report. It adds that one in four residential sales in Spain in 2012 took place in the Balearics, which is pretty astounding for two tiny islands, and Knight Frank concur that last year was their best in a decade for Balearic sales.
You can argue that agents are just talking up their book, but it’s also clear the way the narrative is going, and that will have an impact on market expectations…..
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