Brits make the most of exchange rate in mallorca

The pound has reached a 7.5-year peak against the euro, according to Currency News, making property in Spain more affordable. Now, British buyers are making the most of it in Mallorca, according to developers.

Property sales on the island are already on the up. In fact, transactions across the Balearic Islands increased by 29.2 per cent from 2013 to 2014, according to data from the Spanish government.

With the sterling to euro exchange rate hovering around the 1.39/1.40 mark, though, the number of Brits in the area is rising. The largest of the Balearic Islands is famous for its high end goods at high end prices, but now its offerings - from designer clothes to yachts - are more affordable.

"Property on Mallorca offers incredible value for money in light of the current exchange rate," says Marc Pritchard, Sales and Marketing Director of homebuilder Taylor Wimpey España.

Indeed, prices start at €245,000 for a two bedroom apartment in the developer's stunning Cala Anguila II site, while two bedroom apartments cost from €230,000 in Cala Magrana III, 600m from the beautiful Cala Anguila beach.

Pritchard adds: "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.”