MALLORCA PROPERTY MARKET AFTER CORONAVIRUS CRISIS
Property is a safe house for investors on the island of Mallorca ?
COVID-19 has spread at an alarming speed across Europe, hopefully, with the restriction that governments have put in place, the virus will continue to decrease over the coming months.
The spread of the pandemic has seen international stock markets suffer from large international companies to smaller individual investors, Stocks, unit trusts and long-term bonds have traditionally accounted for the lion’s share of many personal investments.
So, with so much uncertainty in the markets, investors know the best way to protect themselves is to have a diversified portfolio to also include direct property investments.
So, we all know the old saying, put your money into bricks and mortar. The property market in Mallorca has always a safe haven, there’s limited land, a shortage of stock in many areas and strict planning rules means that prime property is seen as a good bet, 2018 and the first 3 quarters in 2019 had shown sales had rocketed. Nevertheless, we do expect a challenging year ahead and almost for sure, some great bargains will be available.
Despite these unprecedented time the banks and financial institutions are still willing to let you borrow money, hopefully, rates will continue at historically low-interest rates, many banks allow those eligible to finance up to 80% of the value, this does not include transfer taxes.
Unlike shares, bonds, and other investments, a property in Mallorca would mean that you can enjoy it personally, with friends or let long term with a guaranteed return.
2020 a time for an opportunity ? Contact us today