Alex Trelinski
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’.
Interviewed 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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“It’s outrageous as they speculate too much with prices and are waiting for a foreigner to pay what they want,” Bermejo added.
The agent stated that ‘Mallorcans complain but they are the ones selling properties to foreign buyers to earn more money’.
She said her client base of both of buyers and sellers are very much from the island.
“We always give priority to those from here to fill our portfolio,” she commented.
Maria Antonia Bermejo observed that clients include people who may have multiple properties and decide to concentrate on living in a villa, while selling the rest to cover rising expenses.
Another issue is the high cost of living on Mallorca which means owners are selling up to move to the mainland.
She said the biggest demand is among people aged between 25 and 35 looking for their first home.
Since the hike in rental prices, choosing to buy is a better option- according to Bermejo- as a mortgage will not cost much more, or be even cheaper.
