Mallorca real estate Corona: how does the real estate market react? Is COVID19 destroying the island?
Many buyers of Mallorca real estate ask themselves: should I wait with my property purchase on the dream island because of the virus? If Corona breaks the prices, are there any bargains? In an expert webinar we provide background information on the dangers in Mallorca and the effects of COVID19 .
At the moment two opposing trends can be observed: the local market is totally failing. The result is a fall in prices and standstill. Except in the luxury segment: even the Spaniards still buy there. We have never had such a high demand from Spaniards for our projects in Cala Pi and Son Quint . But the market for primary residences, small, affordable apartments in Palma and the surrounding area: it’s practically dead.
Just like the tourist market with holiday apartments far away from the airport. The newspaper Ultima Hora just published it. And that will also be the top topic in the webinar: stay away from areas that are too far away. Unless they are finca plots. They are the real crisis winner! Mallorca Real Estate Corona: exciting times.
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From the content:
COVID19 Mallorca real estate: the virus will destroy Mallorca economically this year. This is the unanimous opinion of the self-proclaimed financial experts. But is that really true? And if so, what does that mean for the real estate market in Mallorca? How much lifestyle is associated with the finca on Mallorca? Will the tourism crisis spread to the real estate market? Mallorca expert Christoph Albeck uses the last two Mallorca crises in 2001 and 2008 to explain what you have to consider if you want to get started now. Or which warning signs you should wait and see.