Below we offer you the latest information relating to the situation of the property market in Mallorca when only missing four months to finish the year.
- Balearic Islands is the most powerful area of the Spanish real estate market, as both Mallorca and Ibiza and Formentera are in a clear recovery process.
- During the first quarter of this year were sold in Balears 3,066 homes, 541 more than during the same period last year, representing an increase of 21.4%. Of these, 2,361 were used and 705 new.
- In March were sold 972 homes in the islands, 24.5% more than in the same month of 2015amply surpassing average increase of the country, 16.8%. During the month of June, home sales increased 19.4% over the same month of 2015.
- The acquisition of private housing by foreigners continues to rise. International investors, show high confidence in the property market on the island.
- Mallorca has become the main destination of Swedes when buying a home in recent years, because since 2013 this trend have enjoyed spectacular growth at around 80%. They have become the third nationality at the time of acquiring housing, after British and German.
- The type of media operation is around 350,000 euros in the Bay of Palma, although in Deia, Valldemossa and in the rest of Mallorca investment far exceeds 800,000 euros.
- In Spain, the finished housing prices has moderated in July with an increase of 0.3% over the same month of 2015, compared to 1.5% June. In the case of the Balearic Islands, the finished housing (new and used) has experienced a rise of 1.7% in July, according to the appraisal firm Tinsa.
- In the Balearic Islands have registered in June the highest rates of annual variation of sale of estates (20.2%), according to data from the National Statistics Institute (INE).
- According to the record of the sale of registered homes, Balearics is the community with the highest number of transmissions (136) per 100,000 inhabitants.
- The price per square meter of housing in the Balearic Islands stood in the first quarter at 2,122 euros, the second most expensive of all communities after País Vasco, which stood at 2,190 euros, according to the General Council of Notaries.
- The markets of the rental and resale property in the Balearic Islands are experiencing a boom evident reflecting increased demand experienced in recent times.
- Balearic Islands is experiencing strong upward pressure by foreign demand, especially in high-end and luxury sector, which has led to an increase in
- Calvia, is one of the most expensive areas of Spain, at a rate of 2,835 euros per square meter, and and is encouraged at a rate of 11.4% interannual and could regain its highest price in just over a year.
As a specialist in Real Estate Law in Mallorca, we offer comprehensive advice in the process of buying and selling property. If you intend to purchase a property in Mallorca from a foreign country like England or Germany, you should consider that both the jurisdiction and the processes to be carried out and the roles of professionals involved in it are different. The presence of a lawyer is essential to be responsible for providing obligatory advice to clients on legal, tax and legal liabilities acquired during the action of sale. No doubt to contact us, we will attend you with no obligation.