The European Central Bank (ECB) has cut its core interest rate in a bid to boost flagging economic recovery in the euro area. The bank lowered the benchmark refinancing rate to a record low 0.25% from 0.5%.
With this low European interest rate policy, experts don’t foresee banks increasing interest rates on savings or deposit accounts in the near future. High inflation rates combined with lower interest rates would devour ones savings. Cheap money decreases one’s stimulation to save money.
With this real economic background ever-present, investing in property in Mallorca would be well worth thinking about. Engel & Völkers has been dealing for many years in the intermediation of high-quality properties in Mallorca. So, why wait, please contact us and we will find the right Mallorcan property just for you!