Favourable FX rate sees Brits eyeing up luxury homes and yachts in Mallorca
- GBP/EUR exchange rate reaches 7.5 year peak (Currency News)
- Balearic property transactions up 29.2% in 2014 (Spanish government)
- Luxury beach properties from €230,000 (Taylor Wimpey España)
With the sterling to euro exchange rate hovering around the 1.39/1.40 mark, having this month reached the best rate in more than 7.5 years, many Brits are seeing now as the perfect time to invest in luxuries across Europe and in Mallorca, luxury shopping is easy to do. The largest of the Balearic Islands, Mallorca offers high end goods at high end prices from designer clothes to yachts.
With the favourable exchange rate, Mallorca’s temptations have become even more attractive to British buyers and many keen sailors are looking to do the double while the price is right and buy that holiday home and yacht that they have always dreamed of. The forthcoming pensions freedom day in the UK makes the proposition even more exciting.
Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España and resident of Mallorca comments,
“Mallorca is known for its idyllic climate, stunning beaches and fantastic sailing clubs. Porto Cristo is one of the most beautiful places on the island and a popular marina with those stopping off for a day or two of shopping and with those looking to spend longer periods of time on Mallorca.”
Mallorca is a favourite of the sailing community and the island frequently hosts world cups, regattas and other events. From serious competitions to regattas held purely as social events to celebrate a love of sailing, the calm waters and glorious sunshine of Mallorca position it perfectly as a host island.
Many of those who visit Mallorca are quickly drawn in by its unique charms and discover it is the perfect location for the second home they have always dreamed of. Property sales on the island are on the up. In fact, transactions across the Balearic Islands increased by 29.2% from 2013 to 2014, according to data from the Spanish government.
Property on Mallorca offers incredible value for money in light of the current exchange rate. Taylor Wimpey España’s stunning Cala Anguila II site, where prices start at €245,000 for a two bedroom apartment, is just 3 km from Porto Cristo. One of the last remaining developments with direct access to the beach on the island, it features high end apartments arranged in small clusters around generously proportioned communal pools. Designer fixtures and fittings, air conditioning, double glazing and security doors are all included as standard.
Also near Porto Cristo, Cala Magrana III, where two bedroom apartments cost from €230,000, is just 600m from the beautiful Cala Anguila beach. The apartments enjoy spacious terraces, gardens and/or roof terraces, with key ready properties that are perfect for those looking to make their Balearic dream come true.
For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.