New real estate association for luxury properties Mallorca

New real estate association for luxury properties Mallorca

Mallorca Gold has joined 13 other major international real estate agencies to found a new association for the Balearic Islands. The Asociación Balear Inmobiliaria Nacional e Internacional (ABINI) will help real estate companies which specialise in the luxury sector be heard during the planning process for new industry regulations. The government announced that it would counter the wild growth in real estate agencies. In the future, for example, there will be an obligation to take out insurance which will cover situations arising from erroneous advice, there will be a register for all brokers working on the island and there will be an examination for specialist knowledge. This should prevent any quick starts into the real estate business with the hopes of making quick money.

Regulation strengthens Mallorca's professional real estate agents
Professional real estate agencies like Mallorca Gold benefit from the regulation that the government wants to use to prevent unfair competition in property sales and rentals in the Balearic Islands. ABINI is in favour of a long-term healthy real estate market in the Balearic Islands and wants to campaign for the release of building land, the good use of existing resources and streamlining the building permit procedure.

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