Northeast – Market Development of Properties in Majorca
Reiner Fischer, managing partner for Engel & Völkers in the northeast of Majorca, reports the following: “By the beginning of 2011, the market in the northeast clearly recovered. The demand shown by prospective buyers has grown noticeably; in particular, clients from the German-speaking area (Germany, Switzerland, Austria) account for most of these, but we have also had buyers from Scandinavian countries. Property prices remain stable. Property owners are, however, willing to think about serious offers and if necessary give a price reduction. This positive development will continue into the second half of 2011”.