Due to the economic situation, we can not guarantee customers access to a growing number of distressed Mallorca property opportunities. These forced sale opportunities offer investors the opportunity, excellent long-term returns or for lifestyle buyers the chance to buy luxury Mallorca at very low prices.
While we know that the Mallorca property market and the broader national and international economic “complicated” shall be preserved, we believe that some buying opportunities arise, especially if the current owner has more influence, have cash flow problems and are under pressure from the banks.
Among the options now available on the market – a spectacular 5-star boutique hotel enjoys going on one of the best views of Mallorca, a developer of luxury villa in Pollensa, a house with sea views in Costa de los Pinos, a luxury in the South West of Mallorca Finca near Andratx and a wonderful home front near Porto Cristo.
The key to our customers is the availability of funds to banks in Spain to purchase are still the tap water of loans closed, or at least the value of the ratio of loans require inputs stake of almost 40% after fees, for non-residents and 30% the residents.
Although the difference of the luxury market, where prices often requires far more than the question of the underlying values??, prices, the urgency is reflected for a sale, a thorough market research and due diligence is always required that all foreclosures are “cheap” in particular then, if the assets are in excess of the underlying value of the property. In such cases pending bank foreclosure may be the only option, even if the documentation is much more complicated.
