The 20 Engel & Völkers Shops based on the three Balearic Islands Majorca, Ibiza and Menorca have witnessed a positive year in 2012 and enjoyed an exceptional start to 2013 with a strong first quarter. The high level of international demand for second homes has played a particularly key role in this growth. Increased sales activities and stable to growing prices in the upper market segment have reinforced this trend.
“This positive development indicates that buyers still have confidence in the property market on the Balearics. The islands rank amongst the most popular holiday regions and most sought-after locations for second homes in the world. With growing turbulence in the Eurozone and fears for the stability of the common currency, the prospect of buying a house on any of the three islands is increasingly seen as an attractive asset investment,” said David Scheffler, Managing Director of the regional office at Engel & Völkers in Spain. The Balearics continue to offer outstanding medium and long-term opportunities for secure and stable property investments.
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