Reasons to be cheerful

By Jason Moore THERE is some good news for Majorca and it could mean that the island will weather the economic storm quite nicely. While the lower end of the property market is experiencing some problems the higher end is booming. The main island estate agents report that they are selling far more larger, more expensive homes than this time last year. In other-words Majorca is attracting the mega-rich, the sort of people who have not been affected by the credit crunch and who don´t necessarily need a mortgage to purchase a two million pound home. Also, you would have thought that with the pound sterling having dropped in value against the euro, British buyers would be out of the picture. Not so. In fact British buyers are busy buying homes in the upper end of the market. This is good news for Majorca because the island is attracting some of the most wealthy people in the world. So, there are some reasons to be cheerful. Majorca´s great natural beauty and excellent facilities from roads to medical centres are going to save the day. While the rest of Spain looks set to suffer, Majorca is looking to move ahead in style. There are fewer would-be home buyers but those who are buying are buying for megabucks.