Homeowners and anyone seeking to buy-to-let property in Mallorca will be pleased to learn that the island has been awarded the rights to host the Global Ocean Race 2011-12.
The major yachting event is expected to attract over twenty entries from at least eleven countries, in addition to thousands of sports fans from around the world, driving up demand for rental homes in Mallorca.
Mallorca, which has long been a popular destination for Brits buying homes abroad, attracts around 23million tourists annually.
Holiday homeowners are generally attracted to the island's great weather, vast array of homes, luxurious facilities, stylish restaurants, chic shops and attractive coastline.
Victor Sague, sales and marketing director at Taylor Wimpey, says: "The local area is already noted for being fashionable, desirable and fantastic for boat owners and beach lovers alike. News of the Great Ocean Race will only increase [property] demand for this attractive location.
"Mallorca's property market has not been affected by the recession like some regions in mainland Spain mainly due to the lack of stock available compared to the demand for homes in Mallorca. Spain as a whole is a very fragmented market and good locations and quality property will always sell well whatever the market conditions. International events just add to their appeal. We'll certainly by reserving our front row seats for the Race next year!"
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