Insurance News Archive

Mallorca 'most stable market in Spain'

A recent report has highlighted how the Ballearic island of Mallorca possesses the "most stable" property sector in Spain.

Spanish Hot Properties has told the website Bye Bye Blighty demand for abodes on the island continued to rise throughout 2007, with UK buyers being the main group among the overseas interest.

The latter website said an "exclusive up-market" reputation has been built at the destination, which boasts beautiful beaches, diverse landscapes and an attractive lifestyle.

Nick Stuart, managing director of Spanish Hot Properties, told Bye Bye Blighty: "If you are thinking of buying property in Mallorca, you would be joining just over 53,000 European Union residents [of which 19,000 are British] now living here permanently."

In other news, the BBC reported house sales in Spain have dropped by 26.3 per cent in the year leading up to July 2008, while mortgage lending fell by 33.2 per cent in the country, based on figures from Spain's National Statistics Institute.

26 Sep 2008