Property
Property prices up to 30% higher than their real value
Property for sale | Photo: S. CASES
Palma14/07/2019 04:01
Antoni Gayá, the president of the Association of Real Estate Services, says that property prices in the Balearics are over-inflated. One of the “great problems” with the islands’ property market is that prices demanded have “little to do with the market price” and are typically between 20 and 30 per cent higher than their real value. He stresses that this is not an issue confined to Palma but one that exists on all the islands and that excessive prices apply both to properties for sale and for rent.
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