Spanish bank bargains are boosting the property market on holiday islands Ibiza and Mallorca as a stream of quality, well located apartments and villas are released for sale to international investors and holiday home seekers.
A series of special summer sales through specialist brokers, Walker Property Spain, offer 100s of bank-owned bargains at prices from sub €100,000 to €1,000,000 throughout June and July with optional mortgages, rapid closures and post sale help on the ground with furnishing, rental licences and letting management.
There are beachside apartments, central resort condos, medieval conversions, city lofts and a 4-bed modernist house right on the beach reduced to €1M.
Prices in the Balearic Islands have fared better than the 44% peak to present average drop for the whole of Spain and the Mallorca market is expanding after the lifting of a decade-long moratorium on new developments.
Said Ben Walker, a Spanish property consultant: “Ibiza and Majorca have not been this affordable for 10 years, but the bank-owned bargains we are offering still carry a premium for being located on these very important real estate islands.
“Private sellers are showing increased realism this year, which means there are eye-watering off the market deals for investors with €8M or bigger budgets.
His firm has up-to-the-minute showcases of the best deals and provides serious buyers with direct access to most of the bank stock available on a daily basis.
Fly to Buy services include advance NIE number provision that saves buyers time and money and pre-approved mortgages from leading lenders.