The number of property sales registered in April in the Balearic Islands (Mallorca, Menorca, Ibiza and Formentera) was of 1283 properties, which represents a decrease of 58.7 percent compared to the figures of last year.
This decline in the islands is eleven percentage points higher than recorded for whole Spain, where there were 29217 recorded operations, 47.6% less than in April of 2008.
In the Balearics Islands just as in Spain the major drop was registered in the property resales market whose sales fell by 61.1 percent, while the new property transactions fell by 56.6 percent.
While estate agents in the Balearic Islands are trying to their businesses float, property buyers and investors in the Balearic Islands are waiting hesitantly for the right moment to purchase.
Propiedades Magazine the leading Mallorca property magazine has recently helped in launching a property portal called http://www.yovi.es. The website offers over 12.000 properties from more than 45 exclusive estate agents an private sellers.
http://www.yovi.es offers many innovative features like being able to search for urgent sales and properties that have been lowered in price.
