There are signs that the underlying rate of business transfer price drops have reached their max. Since the devastating crisis caused by the Coronavirus, some business owners have been forced to make radical price drops on the sale price of their businesses, due to financial incapacity to ride the storm or due personal family situations.
Whilst at the beginning of the crisis there was a complete drop in the market due to the unknown, the last two weeks, we have seem a surge in enquiries from speculative buyers looking to get a deal, this coupled with the launch of phase 3 in Spain, more people on the streets getting back to some kind of normality has bred confidence once again in buyers.
We have experienced a competitive streak between investors, with some prices achieving above the bottom line price, and with the airport due to open its doors again mid June, there is great positivity, that the island will pick up.
We have many clients waiting to be able to get to Mallorca from various european countries to invest in the island.