This week Engel & Völkers Mallorca has published their latest Market Report Mallorca 2014.
- German Speaking Dominate Top End Sales
Following record sales in 2013 of plus 30% up over the previous year E&V Mallorca with 16 offices across the island has clearly turned a corner. Now celebrating 15 years on the island, E&V’s local expertise combined with a powerful international network on 5 continents and a stronghold in the German speaking buyer market, has helped it through the crisis years emerging as island leaders in the quality second home market and in 2013 Engel & Völkers had 50% market share of the premium market for properties of 7M Euros and above.
- Mallorca’s Potential in Comparison to other Hot Spots
In comparison to other second home, warm hot spots such as the Cote D’Azur and Miami, where prices can be twice/three times that of a similar property with sea views in Mallorca, there is clearly more potential for market growth. Mallorca has 554 kms of coastline and 40% of its territory is protected, these factors combined with strict building regulations maintain the supply/demand balance.