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2016, the summer of records in Mallorca

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In a moment in what we find just a month of the arrival of autumn, we can certainly say that this summer may be considered as the summer of records in Mallorca.

First, the scheduled airlines carried about 39 million seats this season at airports Balearic, 4.1 million more compared to last year according to data from the airlines provided to the Eurocontrol agency.

Similarly, Mallorca has pulverized during last July its tourist records in terms of passenger arrivals, hotel occupancy, expenditure and activity in the fields of restoration, complementary and commercial offer. A fact to note is that not even the “Brexit”  is affecting the situation of the Balearic Islands, although the British economy has suffered the greatest delay since 2009. The English are, after Germans, most travel to the islands during the last June its presence in Mallorca 11 points was above referring to the same month of last year.

As for investment in real estate market, it has kept the upward trend that began in 2015. International customer requests mostly luxury properties . 2016 will be considered a record year Real Estate Sector, from January to March have sold 3,067 properties corresponding to an increase of 21.5% compared to the previous year. As for prices, it has experienced an increase especially in the southwest, north and the capital Palma (2% to 6%). Despite this growth rate, the purchase price index of 2016 is still almost 25% below the level of 2007 according to data from IBESTAT. It is equally important to assess that foreign demand on the islands appears heavily concentrated in areas that are showing a significant revaluation, as the old town or the neighborhood of Santa Catalina in Palma to which coastal populations are added. Other data, provided by the Ministry of Public Works is that of the 3,122 homes purchased on the islands between January and March, 988 are in Palma  and 307 in Calvia, the two municipalities with the highest number of transactions.

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A clear example of this growth is the fact that the growing demand for of high standing properties in Mallorca, within good moment in the real estate sector, has given a boost to construction activity on the island.
So, we can say that Mallorca is the most profitable destination right now both in tourism and real estate investment terms.

We at Vogue Properties have an unrivalled reputation in the Balearic Islands for providing you with an excellent service unmatched by other Mallorca Real Estate professionals. With more than 15 years experience selling and renting properties in Mallorca, you can be assured that all of your needs are well catered for whether you are purchasing a luxury villa in Mallorca or renting a beachfront apartment in Puerto Pollenca.

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