As the Spanish magazine "Comprendes" reported that the Spanish real estate crisis is far from over yet. Especially Mallorca is far from over the mountain. Before the global financial crisis had market heated up enormously: Prices shot up everywhere, and was built. There is now a large oversupply, prices have really let buckle.
The magazine refers to a report by the Spanish newspaper "Ultima Hora", which refers to high discounts are talking about. Operating on the island of financial institutions have begun to sell off their homes literally. Discounts of up to 60 percent have now been achieved. At the same time go several experts predict that prices will fall further.
Particularly interested in German should this development come in handy. Many people dream of moving to Mallorca, for example, there to enjoy the remaining years. However, holiday homes and cottages are the dream of many a German. Accordingly, it is assumed that'll open in the near future a number of German in order to seriously look at the Mallorca property market.
Interested parties should however be very careful. Especially with the choice of objects, it is to watch. Who is on the wrong location can possibly experience a financial disaster. An increasing number of Mallorca residents complain of difficulties with the Spanish State. This is particularly keen that countless buildings were erected without planning permission - buyers can it happen that they get such objects. Subsequent to obtain approval may be extremely difficult and not necessarily succeed. In the worst case, buildings are torn down, making the former real estate dream is a nightmare.
Even when pricing it is important to be careful. Just because property prices have fallen significantly, one should not get in last minute panic: Depending on the object and location are discounts available, and therefore it is more important to deal with property prices and their development.
