Is this a good time to buy an apartment in Majorca?

[RSDonovan]

I would like an apartment in Majorca so myself and my family and friends could visit it when they wished.

With the current Euro-crisis I guess there is an upside and a downside!

Can anyone who has done similarly please tell me the pitfalls to avoid, and point me in the direction of a website that gives a good, independent view.

Thanks

[MoonRocker]

Well there's thousands "Se Vende" so I'd say you could get a good deal but you'll be stuck with it forever so choose wisely and make sure you get it cheap.

[Sqad]

\\\\Is This A Good Time To Buy An Apartment In Majorca?\\\

Too bloody right it is........it's a buyers market.

You may have to shop around as the Spaniards and Expat's refuse the drop the asking price, despite no interest in their property.
There ARE bargains about,but few and far apart...........

I would try the Spanish Banks to see if they have any repossessions on their books and ALWAYS deal with reputable estate agents.

Also before you buy, seek the help of an English speaking lawyer.(abogado)

[bob561941]

don't buy the Spanish local government are inspecting all foreign owned properties and if they find the properties are rented out, they will hit you with a charge of £14,000 .00

[RSDonovan]

Well I don't intend to rent it out, just allow family and friends to use it and contribute just enough to cover expenses.