The demand for commercial properties in the centre of Palma continues to rise, with the property and catering trades showing signs of finally emerging from the recession.According to reports, the demand to rent properties to open cafes, restaurants and bars in the city centre between January and July rose sharply. Foreign investors seem particularly interested but so too do local investors.
Foreigners have been looking to rent properties mainly along the Borne- which is now fully occupied - but also in near by streets such as Calle Union, Peraires, Sant Feliu and Jaume III.
Josep Oliver, property agent from an agency which specialises in real estate in the city centre says that “rental prices have barely gone down” but the “demand continues to increase”.
Locals have also shown interest in opening cafes, and restaurants along the Paseo Mallorca.