Article
Brits in Balearic Buying Bonanza
Published: Thu 13 Jun 2013 at 08:45
Updated: Thu 13 Jun 2013 at 08:46
Brits are still leading the way when it comes to snapping up property in Spain, accounting for over 16% of the foreign market in 2012.
According to the Bank of Spain and the Real Estate Registry’s annual report, it is the Balearic Islands that are leading the way. However, it is surprising by just how much they are leading the way. The report reveals that just under a quarter of all foreign property bought in Spain is focused on the archipelago.
Majorca in particular is doing very well, though the island has remained remarkably robust throughout the economic troubles of the mainland.
Vibrant Tourist Seen
This is largely due to the vibrant tourist scene on the island, with thousands of Brits enjoying holidays to the Balearic Islands and taking in the summer sun, sand and ubiquitous sangria.
So good is the living in the Balearics, it is little surprise that we are so eager to buy a second property here. When you consider the cheap flight only deals that are available at Jet2.com, things become ever clearer.
As with the rest of the tourist industry, a huge year is expected for holidays to the Balearic Islands. Some even feel it could be the biggest year ever on record. The climate and the beaches are likely to appeal even more after a seemingly never-ending winter here after all.
However, with its amazing architecture, glorious golf courses and numerous other attractions, festivals, restaurants and clubs to visit, hotel visitors or villa residents rarely spend too much time in any sort of property.
