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          On the wanted list: Demand remains high for properties like the above on Mallorca, as well as mainland Spain, below
Demand strong, despite pandemic interruptions
This year the demand for residential property around the Mediterranean has been similar to the UK market, experiencing periods of high
and low activity. It’s mirrored the travel and quarantine requirements imposed by the governments across the eurozone and beyond.
Buyers simply postponed their viewing trips until the travel restrictions eased, creating a stampede when the travel gates were opened. Demand
has continued to be surprisingly
strong despite secondary lockdowns and property prices have remained firm, and in some cases have attained modest increases. In France following the spring/summer shutdown, one of the leading estate agents had a record month in July for sales, selling the
most properties to UK based buyers
for 30 years. The news from Italy is much the same, demand from overseas buyers remains strong together with healthy competition from local Italian buyers.
It has always been the case that the best located and most desirable properties sell well, whatever the market conditions and restrictions. There are some outstanding properties currently for sale across the price range. The
market is underpinned by low finance costs with mortgage lenders offering loans from 2% for a five year fixed rate mortgage.
We have noticed an increase in demand from those looking for a lifestyle change for properties with a secondary income. For example, we are currently marketing the Esporles Estate in North West Mallorca, which includes rental income and a successful olive oil
production business.
Mainland Spain and the Balearics
have, on average, some 300 days annually of sunshine, no wonder that demand remains high, especially if you can quarantine in a lovely villa or apartment with gardens, and swimming pool overlooking the Mediterranean Sea.
Paul Baxter

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