John F. Kennedy once said “When written in Chinese, the word ‘Crisis’ is composed of two characters, one represents danger, and the other represents opportunity”. This statement also applies very well to the current market for commercial real estate during and after the COVID19 pandemic. While the luxury property market in Mallorca has proven to be very stable in all crises, the commercial property market is showing signs of weakness. Due to the crisis, many entrepreneurs had to close their companies. They mostly lacked the necessary liquidity to “still get through the winter” and wait for the new start in 2021. This leads to the “opportunities” described by Kennedy, to possibilities and perspectives for investors to make investments in Mallorca at a reasonable price level, to take over companies, to build up businesses, whether in the hotel industry, gastronomy, trade or services.
Are you interested in a commercial real estate in Mallorca? Do not hesitate to contact the experts from Minkner & Bonitz, in Santa Ponsa (+34 971 695 255), Palma (+34 971 425 016) and Port Andratx (+34 971 672 250).
