Property market in Mallorca

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If last week we talked about the recovery of the property market in Mallorca, it’s important to consider that this is related, no doubt, to buying and selling shares held by foreign residents and non-residents on the island.

In the second quarter of this year, the percentage of transactions by the buyer profile has increased by 30.1% compared with the same period last year, becoming one of the most marked increases at state level and distributed as follows: 34.5% of sales to foreigners in the Balearic Islands falls on Germans, followed by the British with 19.4% of cases, third Swedes appear, with 7%. Therefore it is fair to say that the property market in Mallorca is currently driven by demand from buyers with high purchasing power of non Spanish nationality highlighting the fact that of all home purchases by foreigners in the islands during 2014, 16.3% of cases the property had a value equal to or greater than half a million euros.

All this puts the Balearic Islands like the second Spanish community in what concerns real estate business, with sales of almost 8.3 housing units per thousand population during the past year, second only to Valencia with 9.4 operations per thousand. If the above, we add the great success of the summer season on the island with a total of 4,287,278 tourists arrived mainly from Germany, the UK and the Nordic countries as well as the fact that Mallorca is the destination most wanted the season we anticipate that the trend when it comes to real estate transactions refers continue unstoppable.

Vogue Properties have an unrivalled reputation in the Balearic Islands for providing our clients, with an excellent service unmatched by other Mallorca Real Estate professionals. With more than 15 years experience selling properties in  Mallorca, you can be assured that all of your needs are well catered for whether you are purchasing a property in Mallorca.

Visit some of our featured properties:

Property for sale in Costa de’n Blanes, Calvia, Mallorca.

– Property for sale in Pollensa, Mallorca.

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