We complain about Majorca (and I am probably one of the biggest offenders) but what we must remember is that it is one of the most sought-after places to live in the world. In fact, people are queueing up to buy a Majorca home from across the globe. Recently, the island was rocked by reports that British and German residents were selling up and going home. But there continues to be a big influx of new residents to take their place.
The big spenders, with budgets to spend on homes in excess of five million euros, have Majorca in their sights. Real estate agents say that there will soon be a shortage of homes to buy on the island of the necessary standard. It has now become a seller's market, rather than a buyer's. I am also pleased to report that Brexit and the drop in the value of the pound has not hit the British market at all. As one real estate agent told me yesterday, if you have millions of euros in the bank you are unaffected by most things. Many British buyers are in fact looking to spread their investment, so they do not have all their eggs in one basket and Majorca will benefit.
The weather may be poor at the moment and if you look out the window it does appear to be rather grey, but remember you are living in one of the most sought-after places in the world. Property continues to be a good investment to buy in Majorca.
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