During the estimated period between 1997 and until the beginning of 2008, a real estate bubble was created in Spain that drastically affected the prices of homes that were for sale during that time.
Construction companies took the opportunity to carry out new works to put up a large number of flats and developments for sale, since profit forecasts were very positive. The banks had a great facility to give credit to the citizens and offer them mortgages with a minimum interest and with very poor conditions. The problem is that when this bubble burst there was a sharp decrease in purchases, which can be summed up as too many apartments and houses for sale that were empty, due to the inability of the population to acquire one.
Regarding statistics, according to the Bank of Spain, between 1997 and 2006, housing prices had increased by 150%, and in 2013 there was still a remaining 35.4% to reach the original price of the constructions.
The current situation of the Spanish economy is favourable, prices have stabilized. Unemployment has also begun to decline, indicating an increase in current labor contracts, but it has evidently left consequences not only in the economy, but also in politics and society.
At Palmer we think that since we are your real estate agency in Mallorca, and being specialists in the sale of apartments in Mallorca, we should let you know that right now is a great time to buy a home. Prices are starting to rise but are still low, and there are many unsold homes, so why not take advantage?
Apartment in San Agustín. In the beautiful area of Genova is the neighborhood of Sant Agustí, a large quiet and residential neighborhood, at the same time that it is also frequented by quality tourism in summer.
The apartment is located on the ground floor and consists of two separate studios that were eventually joined to give more space to the house. It consists of two double bedrooms, a dining room, kitchen, utility room and bathroom, as well as a beautiful community pool that has just been renovated.
Located next to Cala Nova, Cala Guix and Cala Major, this area offers all the relaxation to guarantee the greatest comfort when deciding if you want to simply rest, go to the beach, or visit the center of Palma which is only a few minutes drive from the residence. In addition, the bus connections are also very well organized and with fluent schedules to avoid having to take your own transport to get around.
Apartment in Son Fuster. If you are looking for flats, Palma is a great option. You like the city but you don't want to live in the center because you prefer the tranquility of a residential area located on the outskirts and surrounded by parks, we have the perfect apartment for you. Located in the Son Fuster neighborhood, this beautiful apartment has three double bedrooms, a bathroom, a living-dining room with access to the balcony, a kitchen with a laundry room, a completely renovated kitchen and bathroom, city gas, elevator, and also includes a parking space and storage rooms. In addition, just by looking at the photos, you will surely feel like coming to live here right away, we are waiting for you!
Apartment in Coll den Rabassa. Finally, we would like to introduce you to our penthouse with a large terrace in Coll den Rabassa, one of our most special apartments in terms of apartment sales in Mallorca. This magnificent penthouse has 1 bedroom, elevator, separate fitted kitchen, bathroom, living room and a large terrace, ideal for singles or couples! Also the location could not be better. 5 minutes from the center of the Balearic capital and located next to Ciudad Jardín, the current fashionable neighborhood of the island, you will be able to enjoy leisure and tranquility, as well as having all the basic services guaranteed within your immediate reach.
So now you know, if you are looking for apartments for sale in Palma de Mallorca, now is the time to buy, and we want you to count on Palmer Inmobiliaria, your real estate agency in Palma de Mallorca, to ensure that you choose the best option.
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