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Mallorca property sales improve in 2010
Recent figures from the Spain Property Register indicate that the number of house sales in the summer of 2010 is 10% higher than the number sold in 2009. Property experts are saying that the increase is due to a realistic price correction, with the price of some properties in Mallorca having been reduced by 25%.
Large property developers such as Taylor Wimpey and Proinba are looking to expand their developments in Majorca, saying that the island had not suffered from over-supply as the mainland was, and it continues to be very popular with foreign buyers. They believe that prices will now stabilise and begin to grow again next year. Peak property prices were achieved in 2008.
