Majorca property market
Commercial property market in Majorca improves
Palma.—The latest European Commercial Property Survey by the Royal Institution of Chartered Surveyors (Rics) has revealed that the Spanish market re-entered positive territory during the second quarter of the year.
According to the figures, the country also saw the number of occupiers looking for space rise for the first time since the report was compiled, lead by a surge in demand for retail outlets.
Meanwhile, investment demand has also improved, with Rics anticipating further growth in this respect over the next three months. These results are in contrast to the other nations classed as “peripheral” by the organisation – Greece, Portugal and the Republic of Ireland.
All three countries were said to be underperforming compared to the wider European market, with respondents from the locations broadly taking a pessimistic outlook. Marc Da Silva, a freelance property journalist, recently advised investors to hold off from purchasing residential property in Spain because prices are likely to fall further, potentially offering better deals than those currently available.
via Majorca Daily Bulletin.