We know that it is one of the most important decisions of your life. Whether you're doing it from an investment perspective, or you're determined to find the home of your dreams. As an expert real estate agency in Mallorca, We have great news! This 2020 is a good year to buy houses. And, in case you have doubts, we justify this statement with arguments.
THE EURIBOR IS ON YOUR SIDE
In the end, whatever the reason, buying a house in Mallorca always involves a financial operation. Except for a few privileged people, the common of the people access to a property in property requesting a mortgage loan. No matter how much money you have to borrow from the bank, a mortgage involves paying interest. Although there is a fixed modality, the usual is that a variable interest is applied.
But how is that interest calculated? Well, taking into account basically two factors, the spread and the benchmark. In Europe, we have a reference for interbank operations, it is the Euribor. In Spain specifically, the Euribor is the rate that marks the interest in 90% of mortgages. And, currently, we have a negative Euribor with no prospect of it going up. He thinks that the ECB is not going to abandon its expansionary policy, to stimulate access to money so that the economy moves.
THE RENTAL MARKET IS ON THE RISE
Why did we mention renting flats in Mallorca, if what we were talking about was buying a house? Well, because they are two closely related aspects of the real estate market in Mallorca. If a lot of rent is demanded, its prices go up and it may hardly pay you to rent because home sales catch up.
Also, there is another reason why you are interested in buying a house at a time like this. The request for rentals does not stop increasing throughout Spain. It is the perfect opportunity to buy a house in Mallorca and rent it. At the very least, you will amortize the mortgage payment with what your tenants pay you, and more often than not, the amount you charge exceeds the amount you pay to the bank. It is a round financial operation! And this year more than ever.
2020, A PECULIAR YEAR
When the year began, none of us could imagine the radical change that our lifestyle would take. And globally! With the health crisis as the absolute protagonist, we have discovered that our home is our best refuge. Of course, many of us have discovered all the shortcomings of space and location of our apartment.
Therefore, it is time to invest in the purchase of a house in Mallorca. The Balearic island has all the services and a wide cultural and leisure offer. Not to mention its ideal beaches. Everything, with dimensions in which transport is very affordable because there are no large crowds.
Living in Mallorca seemed like an option reserved for the most fortunate. Now, with the generalization of teleworking and changes in work habits, it is more within your reach than ever. Finally, 2020 has become the year to make your dream come true and buy a house in Mallorca.
En Xarxa Homes we know the market like no one else Mallorca real estate. That is why you can believe us if we tell you that 2020 is a good year to buy houses. If you are looking for residence in a perfect destination like our island, be sure to visit our website. We have the most select offer of purchase of flats in Palma. We also help you if what you want is sell your house in Mallorca. Discover all our portfolio!