The real estate markets in Mallorca, Menorca and Ibiza are still on the rise. The Instituto Nacional de Estadística, INE, has reported 706 properties sold in September this year in the Balearic Islands, an increase of 15.4% on 2013.
The demand from abroad for well-located holiday homes in Mallorca remains strong in 2014.
Looking at the first nine months cumulatively, the sale rate of real estate in 2014 increased by 17.3% compared to the previous year.
Source: INE, November 2014
After a slight decline in sales earlier this year, sales almost doubled in March and in the following months the previous year’s figures were each significantly exceeded.
The demand from abroad for well-located holiday homes in Mallorca and its sister islands remains strong.
According to the Spanish Chamber of Notaries the number of property sales to non-residents increased by 36.4% in the Balearic Islands in the first quarter of 2014 compared with the previous year. Experts explain the high level of interest from abroad with the liberalisation of the holiday rental, good accessibility of the islands and the stable value for money situation.
2014 record year
Porta Mallorquina can confirm this trend, in 2014, with an almost 60% increase in sales as of October -probably the most successful year in its nearly 10-year history.
“Primarily apartments in the price range of around 350,000, – € are currently in great demand. The marketing period for these properties in attractive locations is currently extremely short, “
says Jan Diedrich, Director of Sales & Marketing at Porta Mallorquina Real Estate. But even in the luxury sector, the real estate company has been able to increase its sales significantly. The average selling price for top properties is currently around 3 million euros.
Regionally speaking, the Northeast in particular has drawn customers this year. In the upscale sector especially, brokers were able to establish a significant market recovery. In demand here are fincas in excellent condition with high quality equipment.
Jan Diedrich is therefore pleased to be able to offer his customers an exceptional project here. Near Arta 8 luxury villas have been newly built, thus fulfilling all demands in terms of location and facilities. The villas are distributed exclusively by Porta Mallorquina and are priced at 2.5 to 3.4 million euros.