The Engel & Völkers Market Report Mallorca 2020/2021 - now available!

All of our lives have changed due to Corona and suddenly we see our immediate surroundings in a completely new light. Our own home has gained fresh importance. It has become the centre for living, working, education, and an oasis of relaxation, too. 

Mallorca stands out as a safe haven for properties, especially in these challenging times. Those who purchase a property in Mallorca, whether as a financial investment, holiday home, or primary residence, can rely on the stability of the market. We are passionate about paving the way to our clients’ dream properties, advising them, and finding the properties that correspond to their wishes. 

Engel & Völkers has been present in Mallorca for more than 30 years. This makes us proud, and as a leading real estate company, we are obliged to provide our customers with a thoroughly researched overview of the market. Everything that you, dear Mallorca enthusiasts, need to know in connection with buying and selling properties can be found in our Engel & Völkers Market Report Mallorca 2020/21.

Engel & Völkers Mallorca’s Market Report investigates the current market developments in detail and is based on independent sources such as the Spanish Ministry of Development (Ministerio de Fomento), the market research firm Casafari LLC, the Spanish Notary Association (Registradores), and the property valuation company Sociedad de Tasación.

How has Covid-19 impacted the property market in Mallorca? Are property prices dropping due to the Corona crisis and what is the situation like in the premium segment? An overview of Mallorca: What do properties cost in the different regions? On approximately 40 informative pages you, as a prospective buyer, owner or investor, will find everything you need to know about the Mallorca property market and its latest developments. 

The market development in the Balearic Islands: Real estate agent insights by Engel & Völkers

Covid-19 is also impacting the property market in the Balearic Islands to varying degrees, depending on the property segment and the clientele. According to a market analysis conducted by the Sociedad de Tasación (an independent expert company for the valuation of properties and market analyses), no decrease in prices was registered in the Balearic Islands' overall market in 2020 contrary to many expectations. 

The significant decrease in the number of transactions was only slightly reflected in the development of transaction volume. The curve of constantly increasing prices therefore levelled off but was not disrupted. The analysis also suggests that prices in the luxury segment are distinctly stable, as demand continues to be high. This is proven by the fact that international buyers made up 44% of the transaction volume in 2020, which increased from the previous year; compared to 2009, this proportion has almost doubled.

Mallorca property Market in Times of Covid

As one of the most attractive destinations in the whole of the Mediterranean, Mallorca stands out as a secure property location, especially in these challenging times. Those who purchase a property in Mallorca, whether as a financial investment, holiday home, or primary residence, can rely on the stability of the market. Property prices in the premium segment have not been impacted by the Covid-19 pandemic and remain largely stable. 

The consistent increase in the average price once again confirms the strength of Mallorca as a premium property location. International buyers appreciate the security of their investments and search for suitable properties in all of the island’s regions. The desire to have a property in Mallorca has been further reinforced due to Covid. There is barely any room for negotiation and purchasing decisions are made more quickly than ever. 

Engel & Völkers Mallorca: Your real estate agent of choice!​

Over the past 30 years, Engel & Völkers has managed to establish itself with a total of 19 property shops in Mallorca, in which over 150 professional, multi-lingual real estate agents are available to help you. In 1990 our first real estate shop outside of Germany opened on Mallorca to open up a market in which we now have a market share of nearly 30% of all real estate transactions by foreign clients. They are the company’s most important group of buyers in the Balearic Islands by far. 

Engel & Völkers is the market leader in Mallorca! In comparison to 2009, the transaction volume which was generated by Engel & Völkers Mallorca has more than quadrupled - at 410 million euros, the financial year 2020 was concluded at a high level. The slight decrease in the transaction volume compared to the prior year (2019: 470 million euros) can be largely attributed to the strict travel restrictions introduced together with the lockdowns in spring. As the market leader, the company has proven its high level of competence and its results are significantly above the performance of the overall market. 

We are highly optimistic about the future and predict positive development in the overall situation. The Government of the Balearic Islands’ commitment to sustainable, high-quality tourism, promoting various projects in the field of artificial intelligence, and environmentally friendly energy production fit in with our ambition of providing discerning clients with a first-class product: your property in Mallorca. 

You can find out everything you need to know about buying and selling properties in Mallorca in our  Engel & Völkers Market Report Mallorca 2020/21 and of course by talking to us - in person or on a video call!
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