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A place in the sun
Son Servera villa, NE Mallorca - €2,850,000 - A seven bed- room, en suite villa plus an independent Casita (Guesthouse) providing an eighth double bedroom, situated in the beautiful countryside of the north east coast of Mallorca and close to the lovely beach of Costa de Los Pinos.
Why the popular resorts of yesteryear are back in demand - Paul Baxter looks at the overseas property market
Despite the very warm spring and the hot summer, which normally has an adverse effect on viewings, demand for
properties around the Mediterranean has remained strong.
Surprisingly with the weaker pound, this includes demand from UK buyers who seem to have shrugged off their Brexit concerns. They are competing head on with the Germans,
Dutch, Belgians and Swiss buyers. These nations, currently represent the majority of house hunters from the Eurozone countries, rather than the Scandinavians’ who were very prominent over the last few years.
Usually the first sign of a downturn in the market is a drop in demand for country properties.
Buyers tend to reduce their search criteria to the better known coastal resorts where they
perceive greater security values. There is a good, continued demand for country/inland properties, which are brought more for a use as a home, rather than a holiday home. Once settled, they are integrated more locally and can benefit from being part of the local community.
There are areas that are experiencing increasing values over and above the published national property inflation
statistics. In many cases, these are the resorts which were very popular in the 60’s to 80’s. In trying to accommodate the unprecedented demand they underwent rapid expansion, with little thought to planning and building quality. Now looking somewhat dated, these resorts are at the lower end of the budget for the holiday market but are finding themselves with a dramatic resurgence of interest.
Apartment buildings and neighbouring hotels have become prime territory for developers’ being demolished or substantially reformed to make way for new luxury apartments and new hotels earning higher star ratings by offering better facilities and with room prices to match.
n If you are looking to purchase a property abroad and would like some experienced, impartial advice, please contact me on +44 20 3239 7511.
Porto Petro, SE Mallorca - €3,300,000 - A very rare opportunity to purchase a detached family villa located directly on the beach in Porto Petro, a pretty fishing village on the island’s south east coast.
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