A comment about the Balearic real estate market by Trevor Panton, real estate expert – KENSINGTON Portals
In the current Balearic market, is it safe to invest in Real Estate? The answer is yes!
During the 2008 financial crisis, many real estate opportunities emerged, the stock market was incredibly volatile, there was high unemployment, people were worried and it was the right time to make smart purchases. The market in Mallorca is currently going through a similar process.
In 2016 the real estate market in Mallorca reached its peak, fear and hesitation was on the buyer’s side since buyers were either waiting for better deals or were overpaying for a property. A smart purchase is simply a matter of timing and now, more than ever, it’s time to invest in the Mallorcan real estate market.
We don’t know how the current market is going to react short-term, but real estate has always proven to be the safest investment in the long-run. The fear in the market right now comes from sellers, this doesn’t mean that every seller will be desperate to sell, fortunately, in Mallorca, many sellers are financially comfortable and not in a rush to sell, yet some sellers might have to restructure their businesses and need to release some equity.
So, whether you’re looking for a brand new property or one in need of renovation, it is important to know the value of the property by doing a diligent comparative market analysis.
This is why you need a professional real estate agent to help and guide you throughout the whole process, someone with the right knowledge of the market, with years of experience and who has managed to establish a good relationship with sellers in order to mediate between buyer and seller and achieve the best deal for both parties.
It’s important to keep in mind that owning the right piece of real estate is also about knowing that you won’t need to sell in the near future and that the property can always generate an income, therefore it is important to build a portfolio of properties which in time will appreciate in value, regardless of fluctuations in the market. On the other hand, we don’t only sell real estate investments, we also focus on promoting the amazing and unique Mallorcan lifestyle.
This health crisis has taught us that life is not all about profit and investments, but also about quality of life and enjoying every moment. Therefore, it’s important to realise that Mallorca has been a sought after destination by international travellers for many decades because it’s ideal for those seeking rest and relaxation, safety and comfort, as well as culture and history. A very well-rounded island that offers nature, amazing beaches and coves, city life, gastronomy, and adventure.
One of the main reasons to visit the island is for its incredible beaches and coves, lapped by its turquoise waters. There are tucked-away beaches where you can enjoy the peace and quiet of the sea. Mallorca is also known for the great variety of its landscapes and coasts with impressive cliffs. Mallorca is also a good destination for city tourism. Palma offers cosmopolitan city life, culture, gastronomy, sport, and leisure.
Soon (expected in July) the borders of the Balearic Islands will also reopen and it is a pleasure for us to welcome you on site again from that time on.