Property News

Building With Confidence In Menorca

The continuing economic crisis has impacted heavily on Menorca’s property market which at present shows no signs of recovery, albeit that certain pockets such as the luxury sector have not been so badly affected. The latest statistics released by the Housing Price Index of the National Statistics Institute, show that private housing in the Balearic Islands has fallen by 15% in the second quarter compared with the same period in 2011, the biggest decline since 2007.

As the 2012 summer season draws to a close, this will put many second homeowners in a quandary about what to do with their properties during the months ahead. Obviously, for various reasons, some people may have to sell no matter what. But, what are the options for those people with holiday homes on the island who can ride the storm..? Residential and swimming pool construction expert Arturo Sintes of Menorca Villas and Piscinas Menorca looks at the holiday home market and explains why now has never been a better time to assess the property you have and plan for the future.

Smart Way To Sell Property In Menorca

QR Boulevard is a new company that is offering home owners who want to sell or rent out their property in Menorca the opportunity to allow potential buyers to access full details instantly via a simple scan with their Smartphone.

Each of our clients is supplied with a QR Code property board measuring 60 by 40 cm that invites interested parties to ‘scan’ the code with their Smartphone. We work both with estate agents and also direct with homeowners.

Spending Power of Menorca's Second Home Owners

Second home owners and their guests make an important economic contribution to Menorca, but very little has been done to calculate exactly what financial benefits this overlooked sector brings to the island. In a depressed tourist climate, can Menorca afford to ignore this significant yet untapped revenue stream…?

A recent study, conducted by ABC Menorca, calculates the financial benefits brought to the island by second home owners, and investigates the expenditure made by home owners, their guests and their clients, when spending time in Menorca. It also addresses the issue of unregistered tourist accommodation, estimating the market size, and proposes one means of resolving this problem.

Prehistoric Des Res For Sale

An unusual piece of property came up for sale recently when the owners of the ‘Taula’ on the Camí de Binissafullet (Sant Lluís district) decided to put it on the market. The asking price of 130,000 euros will buy the purchaser 16,000 sq.m. of land which includes the ruins of a Talayotic village (c.1400-800 B.C.) and a small pine grove.

The Council had been interested in acquiring this piece of Menorcan history but were unable to afford the purchase price, especially with the current cutbacks in spending.

Bonnin Sanso are the estate agents faced with the task of selling the archaeological site and land, but Director Joan Torres said that they had been unable to find out from the Council what restrictions would be applied. The company has now moved its board from the position shown in the photograph to a ‘more discreet’ location.

Photo: Diario “Menorca”
Text: Sam Jasper