Island Property
March 4th, 2010Country Life magazine in the UK ran a report recently about property on the island, and comment:
You cannot lump the Balearics together with the rest of Spain, in particular the mainland costas where overdevelopment has led to a vast surplus of new build apartments leading to a dramatic fall in prices.
Supply and demand in Mallorca is more evenly balanced, and as the coastal authorities and local councils are constantly tightening planning laws under the direction of the Ministry of the Environment, choice is more restricted. In some coastal urbanisations, such as Cala Blanca and Montport III in Andratx (SW) or Bens D’Avall in Soller (NW), the area has simply been re-zoned as protected, even though a degree of infrastructure was already in place, resulting in costly compensation cases.
Mallorca’s appeal
Foreign residents now account for over 21% of Mallorca’s 855,000 registered population, the highest percentage in Spain whose average stands at 12%. This doesn’t include the influx of foreigners who spend three to six months here in second homes, the number of which is estimated at 60,000.
Dramatic improvements to the island’s road and rail system greatly adds to its appeal. Palma has a sparkling underground metro system and there are plans to extend the existing rail links from Sa Pobla in the north to Pollensa and Alcudia, and from Manacor to Arta in the north east. Palma council introduced further designated cycle lanes in 2009, bringing the total to 30 km in and around the city. At the same time, the Balearic government is investing heavily in promoting the island, which attracted over 90,000 cyclists last year, as a training and competition venue for both amateurs and professionals in the shoulder months.
Mallorca’s image for quality tourism is fiercely protected. Over the next two years, they plan to spend 18 million Euros on coastal protection, maintaining sand dunes and introducing wooden decked pathways. The island has 554 km of coastline and over 60 beaches with access for the disabled. In 2010 it will be awarded 41 Blue Flags and a further 17 for its ports and marinas. 34 boats patrol Balearic waters throughout the peak season keeping the waters free of non biodegradable rubbish. This summer over 200,000 recyclable, cardboard ashtrays were distributed on the beaches and laws were introduced to phase out plastic bags in the major supermarket chains. To read the full article click here
For more information about Majorca property visit http://www.yourmajorca.net


