Dear reader! The summer is in its peak and not just children enjoy the Mallorca sun, beach and


the sea. We are delighted to bring you closer to this summer feeling with our new brochure. At the moment there is much confusion about the real estate market in Spain but


property in Mallorca is still comparably steady when looking for a long term investment. Recently different reports have appeared in the press regarding the anticipated


evolution of the Spanish real estate market in 2010. Unfortunately the indications we receive from the various experts vary significantly from one another, ranging from those that anticipate an increase in some areas of Spain to the more defeatist who consider that the property prices in Spain still have to drop but do not provide further details. I believe that the information available for this market is quite scarce and the data we received from the INE (National Statistic Institute) does not help to clarify the matters nor reflect the reality of the market. Some analysts assure us that the crisis will last three years. They reach this conclusion by dividing one million properties between 350.000 properties´ sales per year. But I must ask: Are we speaking about the centre of Barcelona or about Seseña in Toledo where a project of 3.000 low cost apartments in a town of 13.000 inhabitants has been paralysed? Or are we speaking about Tarragona that could have properties to cover the demand of the next 9 years or of Baleares who could be left with limited properties to offer in two years? What is really clear to me is that it is of no use to give national figures or reach conclusions about the market globally. One region is not comparable to another; even in many cases one town is not comparable with its neighbouring town. Regarding residential properties on the coast, Baleares has important land


limitations. The successive environment focused governments have conveniently regulated and restricted the development of the land in order to have a sustainable urban development in time. Consequently we cannot speak of an excess to offer in any of the coastal areas of Mallorca. At the same time however the inherent attraction of the island continues to ensure a strong latent demand and hence we are already seeing an upward pressure on prices. The best value and quality properties in the top locations of Mallorca are being


sold now. Delaying may mean having to settle for a less attractive home and very unlikely at a price any lower than that available today.


Enjoy the beautiful summer weather! Yvette Taylor


Yvette Taylor BFA, MBA Managing Director


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WELCOME


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