08/02/2021 by H·S·H Luxury Real Estate 0 Comments
THE NEW LANDOWNERS OF MENORCA
The changes in agricultural and livestock production in Menorca and the large number of houses and buildings in disuse on rural land have generated a traffic of investments.
Whereas before they were concentrated on the coast and in the tourist resorts, they are now oriented towards the countryside and the interior of the island. Most of the capital has come from abroad, to the extent that land ownership has been intensively developed. The island's noble families and landowners have been replaced by a large number of foreign businessmen and potentates.
In the last 10 years, Menorca has established itself on the European map as a safe asset for the great French, Swiss and Spanish fortunes. The health, construction, telecommunications, culture and textile industries have all set their sights on Menorca. The trend in agrotourism is to offer an experience in a rural environment. A parallel wave to the growth of inland tourism, which has attracted many investors to refurbish palaces and houses in village centres, thus expanding the supply of accommodation within the villages and displacing year-round residents from the traditional centres. The supply of city hotels has increased sevenfold in just five years, especially in the old town of Ciutadella, which concentrates a good part of the fifty or so active establishments. Meanwhile, the relaunching of communications with France, now also by boat, opens
France, now also by boat, opens up the island even more and favours the purchase of properties, both in the countryside and in the cities. Isolation, often a problem for Menorcans, is now becoming an opportunity for foreign investment in exclusive tourism, disused rural buildings or the rehabilitation of abandoned heritage. A trend that the uncertain scenario opened up by the Covidien-19 may accentuate ...