Mallorcan Property Prices

[petem]

Sorry, a non boat one this.

Does anyone know whether property prices are on the up or the down in Majorca? There was some talk that prices went up as people disposed of their 'dirty' psetas and that prices for property and boats would fall post Euro. Has this happened?

 

[martin]

Just back from our place on the mainland (Marbella)..seems the much talked about slump has not happened (YET ?) our place has gone up since last year and they are still building!!

 

[DepSol]

Yes but that is cos of all the 'matress' cash lying around which needed to be gotten rid of when the euro came in, thats why you are seeing loads of building going on. I have a place in Torreblanca del Sol which has been rising in price for at a very good rate for the last five years.

Dom

 

[petem]

Hot property

Would you recommend Marbella/Puerto Banus? Is it expensive to eat out there? We're maybe after a two bed apartment on a complex with a shared pool. Budget £100-£120k. Does anyone know any property 'hot spots'?

(Before anyone aske it's not all my money so I can't buy a boat instead!). What's the likelihood of breaking even by renting out to friends (of which I have a few) whilst we're not there?

All advice greatfully received.

 

[DepSol]

Re: Hot property

You can get a two bed apt in same block as me for £120k I am about 3 miles from Fuengirola which is quiet enuf at night but close enuf to get to the clubs and main town/marina. My place overlooks the sea there is a car park then the road then the beach. Benelmadena is just up the road and further down you have sotogrande and then Puerto Anus sorry Banus.

I rent out the place in the summer and usually get more than enuf back to cover all costs etc for the year. August is always booked at £1200 for the whole month.

No pool but the sea is at your doorstep and their is a hotel closeby which you can buy their services.

If you want to know any more just ask.

Dom

 

[martin]

Re: Hot property

San Pedro seems to be the hot spot at the mo. My Brother in law has bought two there recently for about that price. They have just announced that the Marina will be built there and a there is a rumour that Disney will be arriving soon. Major building going on in the San pedro area is likely to go on for next 3-4 years so still poss to buy in advance and get good prices...

 

[dangcharios]

Property prices in Ibiza are at an all time high, due of course to indoor money from allover europe Time for selling not buying. I think we,ll see it back to normal in 18 month

Alan

 

[petem]

Re: Hot property

Martin,
Many thanks for your messages. I think I'll head out that way for a week in the summer and take a look.
Regards, Pete