Mallorca yachting reels in overseas property buyers

Overseas property investors find owning a property on Mallorca very attractive due to the major yachting events hosted by the island each year.

Annual Yachting events, such as the Superyacht Cup, are proving to offer a welcome boost to the island’s property market.

The Superyacht Cup is in fact Europe’s longest superyacht regatta currently in existence, and is celebrating its 16th birthday this year.

This cup attracts hundreds of superyachts to the event, which allows some of the world’s most impressive and biggest yachts to come together at the Bay of Palma.

However, the four day event is by invitation only. Marc Pritchard, sales and marketing manager of estate agents Taylor Wimpey de Espana, commented on the widespread appeal of the island and the yachting events.

He said: “Indeed, international events of such magnitude continue to aid Mallorca’s reputation as the place to be and while many sailing devotees are attracted to such events, many more stay for Mallorca’s sun soaked climate, striking blue flag beaches and high class restaurants”.

The social events on the island, as well as it being a sunny location, make it a popular destination and a worthwhile investment.

Pritchard added: “There are many benefits to be had from owning a home in Mallorca as it can offer a great rental income for owners throughout the year. The Balearic Island offers a wonderful quality of life and superb properties that are so often desired by tourists and potential home owners.”

Transferring money to Mallorca

If you are looking to invest in Mallorca, think carefully about how you will send money from UK. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Mallorca – which you will inevitably have to do if you are looking to make a property investment, be sure to compare prices before you buy your overseas currency.

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