Ibiza and Mallorca bucking the trend in Spanish property market

The worst appears to be over for the top end of the property market in Spain’s Balearic islands with demand increasing especially from wealthy overseas buyers.

Americans, Russians and Chinese buyers are increasingly attracted to the lifestyle offered on Mallorca and Ibiza.

IbizaThroughout the property downturn demand for holiday homes in Mallorca has remained high, largely due to the mix of nationalities involved. The island is two hours flying time from most northern European cities and more than 80% of buyers in Mallorca are not Spanish. Properties on the island are also popular with Germans, Austrians, Swiss and buyers from Scandinavia.

Overseas buyers are attracted by the pretty inland villages, beautiful coves, marinas and beaches, imposing mountain ranges and 24 golf courses. Upmarket design is also helping to attract buyers. The Philippe Starck designed superyacht marina Port Adriano, Nikki Beach and Jumeirah Port Soller Hotel and Spa all opened in 2012.

These kind of venues are proving to be a hit, particularly with the Russians, 200,000 of whom visited Mallorca last year. Almost 23 million passengers used Palma International Airport in 2012 and the airport has been extended and has an increased number of flights for 2013 including London Heathrow, Vienna, Helsinki and Belfast.

Ibiza is also enjoying a surge in flights with British Airways adding a direct London Heathrow service to their hugely popular London Gatwick and London City Flyer timetables.

Via : propertywire.com

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