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Post new topic| Topic: Mallorca property a safe bet, says Financial Times |
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| admin 19.47 17-02-2009  Profile Edit Send private message Report this post! |
Amid all the property doom & gloom, the Financial Times has just found something to be cautiously optimistic about, including Mallorca among the world's top ten places to invest your money if you're looking for areas poised to perform well over the medium- to long-term. According to the report, "at some point in 2009 the market is likely to hit bottom or be close to it. This is the time to prepare to buy before the herd moves in. "Prices will take a long time to recover fully," warns the report, " so think carefully about the outlook for a particular location, its infrastructure, accessibility, amenities & prospects for economic growth." Mallorca comes in fifth after London, Paris, New York & Montenegro "The much publicised Spanish property downturn has not had much of an impact on the main luxury market in the Balearics because of a balanced supply-demand situation driven by fairly tight control on new development & continued purchases by domestic & overseas buyers . Recent road improvements have added to the island’s appeal, low-cost airlines have improved flight frequency & 2009 will see the extension of the rail network link from Palma via Inca & Manacor to Arta. The prime locations are Puerto de Andratx & Palma Old Town in the south-west, Puerto de Soller, Valldemossa & Deia in the west ; & Formentor in the north, with average prices from 6.000-7.000 euro per sqm." |
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