The international Real Estate Agency Engel & Völkers, well-known for the intermediation of high-class properties worldwide, actually with 521 shops in 38 countries, reports a record year 2013 on Mallorca with sales up by an average of 30%.
However in the South West, where 40% of all property sales on the island were made last year, E&V sales were up by 70% over 2012. In addition, unprecedented multi-million Euro sales were made with a top sale of 10M Euros and an average sales value of 1.36M Euros. In south west Mallorca, Engel & Volkers has 50% market share of the premium market for properties of 7M Euros and above.
Last year demonstrated that buyers are now prepared to invest money once again in holiday homes since the crisis began and the average spend this year, outside of the southwest region, has been in the region of 750,000 Euros. All the offices report that buyers (mainly German speaking, British, Scandinavian and Russian) are making offers faster in fear of losing the deal and that more completed deals are closing near to the asking price with average negotiation between 5%-14% off the asking price.
Spain’s real estate sector is showing the first positive signs of recovery. According to data from the *Spanish National Statistics Institute, the first small prices increases since 2010 of 0.7% have been registered with a 2% increase in the Balearic Islands as the top region for price recovery in Spain. Read more
See more properties for sale at the Mallorcan South coast with Engel & Völkers Mallorca South