Property Works is proud to have featured in an article published by Emma Mahony in the Financial Times:
Alastair Kinloch of Chartered Surveyors Property Works says:
“Blue-chip properties and locations attract buyers who are not affected by borrowing, so these purchases are still quite strong and they are the only area where there is movement at the moment.”
Inland, it’s a different picture. “It seems that properties up to €2.5m are the ones that are suffering”, says Kinloch. “Below €500,000, the situation is more comparable to the mainland.”
Kinloch’s says Mallorca’s government has helped to maintained prices: “A lot of money goes into infrastructure – from local taxes, Madrid and Europe, and there have been sensible zoning and expansion plans, as well as strict control of frontline development.” Kinloch’s own property in Sóller has risen in value because of the construction of a tunnel through the Trumantana mountains, reducing the commute to Palma to half an hour.
Follow this link for the full article http://www.ft.com/cms/s/2/d7dadcce-a028-11e1-90f3-00144feabdc0.html#axzz1w49Xsgub