Costa News Spain Breaking News | English News in Spain.
A MALLORCAN real estate agent has blamed some ‘locals’ for pushing up property prices because of foreign buyers.
Maria Antonia Bermejo from the Gestpropiedad company says that supply of homes is scarce due to ‘exorbitant prices’.
Interview by the Diario de Mallorca newspaper, the agent said: “We are talking about €300,000 or €400,000 for a flat covering just 80m2.”
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Bermejo continued, “It’s outrageous since they speculate too much about prices and are just waiting for a customer to pay the price they want.”
The agent stated that ‘Mallorcans complain but they are the ones selling properties to foreign buyers to earn more money’.
She said that her buyers and sellers come primarily from the Island.
She commented, “We always give preference to those who are from here when we fill our portfolio.”
Maria Antonia Bermejo noted that some clients may own multiple properties but decide to live in one villa and sell the others to cover increasing expenses.
A high cost-of-living on Mallorca means that owners sell up and move to mainland Spain.
She said people between the ages of 25 and 35 who are looking to buy their first home have the highest demand.
Bermejo believes that buying is the better option due to rising rental prices. A mortgage will cost less or even be cheaper.
