‘Clearly he thinks this is a good moment to invest’
First he’s investing in Mallorca which is a more niche market than on the coast, and in a property that had halved in price so probably a fairly safe bet.
Second, he’s pretty rich so it won’t matter quite so much for him as for a Joe Blogs if the price should continue to fall some more.
Third, it’s probably to holiday there rather than to live so not dependent on his only property as others might be.
Mallorca is like a separate country compared to the mainland, I think it’s prettier, less of a glut of unsold properties in comparison, and IMO I’d rather be stuck with an unsold property there than on the busy Costas, the market should improve there quicker I think, also has this Royalty goes there connection.