Mallorca and Real Estate have almost become synonymous in recent years.
We have seen one of the biggest property booms here, than in many other European parts.
Spain in general had a huge building boom, but the limited space, tight regulations and charm of the Island made our building boom high with prices to match.
When people compare what their money will buy here compared to the mainland, they are often shocked. There is a premium attached to even a regular apartment, because of the demand on limited location.
You could argue that £100,000 will buy you a home in Andalucia, whereas it will literally buy you a garage in Port Andraitx.
Even with the recession, and the apparent drop in foreign property interest, our prices here are still holding their own.
Of course many people would argue that they bought high and now cannot afford to sell lower, but many of these purchases were done with a record breaking high pound to Euro exchange rate, so with the drop in the Pound’s value against the Euro, property could in theory be sold at a lower Euro price and still return the same pound investment.
Of course we have noticed a difference in business, but we have sometimes thought the downturn of enquiries for property has enabled us to concentrate on the customer who has a Real interest rather than spending so much time with a “potential” Mallorca home owner. The clients we attract now are serious buyers and when we open our doors we are ready for them.
If you Google Mallorca Real Estate the list of agents is endless. Ten years ago when Real Homes Mallorca first opened it’s doors, the list was significantly less. The big players were still there, but not so big and reasonably each town had their “local” agent. Then the boom hit and property was exchanging hands at a rate of knots. Everyone became an expert and it felt like overnight Property Offices were popping up on every corner. At one count there were ten in Portals Nous Village, which realistically is a stretch of high street 500 metres long. Competition one would imagine became fierce, but did it really?
The recession has since hit and apparently property sales have come to a stand still. Offices have been closing their doors literally left right and centre. But the best agents seem to be riding out the buying drought and business for them seems to be as good as it ever was. Mallorca Magazine features Real Homes Mallorca and takes a look at what makes them different.
Real Homes Mallorca have a small (but adequate) office with huge personality. Run by a husband and wife team, with a full time office and occasionally marriage manager!!! The welcome in Real Homes is always big. A successful business for the past ten years, Real Homes have been riding the property changes like a wave, there for the swell, riding the high and outrunning the crash and low. A family run business with families in mind. The personal touch has always been Real Homes idea of service and inspired their advertising plan of Real People, Real Life , Real Homes. They do literally work with, work for, and work towards providing homes and services for the people that they meet everyday. Real Homes Mallorca have built a reputation on trust.
The first question Real Homes Mallorca ask a potential buyer isn’t what do you want to spend, but what are you looking for? Of course the budget will be a major deciding factor to which properties are viewed, but to sell a Home it is essential to know what a home owner wants to own.