In the Palma your hand
Tuesday, November 04, 2008
Catherine Deshayes
The volume of property sales and mortgages issued in Mallorca, Spain, continued to plummet in August, according to new data released by the Instituto Nacional de Statistica...
Mallorca property sales dropped by 44 per cent, compared to a national average decline of 37 per cent (23 per cent in new home sales and 47 per cent in the second hand market), while the number of new mortgages reduced by almost 50 per cent. A lack of available credit has been cited as the main reason for these falls.
The fall in residential sales and in turn property prices looks set to continue over the next few months, which is bad news for existing owners of homes in Spain, but presents good buying opportunities, particularly for people looking to buy property in Mallorca.
Source: www.homesoverseas.co.uk
Tuesday, November 04, 2008
Catherine Deshayes
The volume of property sales and mortgages issued in Mallorca, Spain, continued to plummet in August, according to new data released by the Instituto Nacional de Statistica...
Mallorca property sales dropped by 44 per cent, compared to a national average decline of 37 per cent (23 per cent in new home sales and 47 per cent in the second hand market), while the number of new mortgages reduced by almost 50 per cent. A lack of available credit has been cited as the main reason for these falls.
The fall in residential sales and in turn property prices looks set to continue over the next few months, which is bad news for existing owners of homes in Spain, but presents good buying opportunities, particularly for people looking to buy property in Mallorca.
Source: www.homesoverseas.co.uk
posted by tony at 12:02 PM
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