Porta Mallorquina increases turnover

Real estate business flourishes despite pandemic

Concrete gold remains a popular currency even in times of crisis. Represented all over the island, Porta Mallorquina Real Estate reports an 11 percent increase in sales volume during the last financial year, while the commission made on property sales rose by 8 percent overall. The average sales price for houses was around 980,000 euros and for apartments 362,000 euros.

The most expensive property sold was a villa in Andratx, which changed hands for 6.8 million. Just under 70 percent of the buyers were from Germany, Austria, and Switzerland. The proportion of British buyers continued to decline in 2020, while the Nordic countries remained constant compared to previous years.

Online viewings popular

Timo Weibel, director of Porta Mallorquina and himself the owner of two real estate shops on the island, describes how estate agents experienced the first Corona year:

“After a short period of shock during the first lockdown in mid-March, interest recovered very quickly. The total number of purchase enquiries fell by around a third, but the clients who contacted us were all the more determined to realise their dream of owning a holiday property on Mallorca.”

The estate agents kept in touch with their clients abroad via Skype, Zoom, etc., and most properties were viewed online in advance.

“Some clients even purchased just on the strength of the video, many not even travelling to Mallorca to complete the transaction but having it done by power of attorney with legalisation and apostille carried out at a notary’s office in Germany,”

Timo Weibel remembers.

Second half-year clearly better than the first six months

From June to October, the sales advisors were constantly on the move: “Either with viewings or at the notary’s office,” Weibel continues. During the third and fourth quarters, a good two-thirds of the total volume was secured and documented.

Spaniards still account for the strongest group but here, too, the percentage of sellers from Germany increases from year to year. In the meantime, they have become the second-largest group in the nationality-ranking of sellers forming around 30 percent.

This development comes as no surprise to Timo Weibel:

“For a good five years now, Germans have been the strongest group of buyers on Mallorca. Since holiday properties are sold faster than main residences, it is only natural that the Germans represent an increasingly larger share here too.”

New property shop in the ILLES gym Santa Ponsa

In order to offer owners and prospective buyers even more on-site service, Porta Mallorquina has now opened another location between Santa Ponsa and Portals Nous. The new real estate shop is located in the well-known business park of Son Bugadelles, in Carrer de Son Thomas 2, directly in the foyer of the fitness studio ILLES.

This new real estate shop replaces the previous location in Portals Nous. The owner and partner of Timo Weibel, Mirjana Antic, is delighted with the new location:

“The shop is equally easy to reach from both from Santa Ponsa and Portals Nous, and our customers are happy that they have no parking problems.”

This means that Porta Mallorquina Real Estate is once again represented with eight locations in Mallorca, although Timo Weibel believes that even more shops on the island may be necessary for the medium term:

“Ten shops should certainly be feasible.”

The year 2021 initially started somewhat quieter than the previous year, but by the beginning of March sales figures were already back at the level of 2020. Timo Weibel continues to look ahead positively:

“The number of inquiries is at a record high and many customers are waiting, so to speak, for the ‘green light’. Due to the low covid incidence figures for the island, they hope that the general situation will continue to ease in the coming weeks until it will be possible to travel without quarantine or testing obligations.”