Engel & Völkers Market Report Mallorca 2017/2018
· The demand for residential property on Mallorca remains high
· One Third of the international buyers on the Balearic Islands bought through Engel & Völkers
· Engel & Völkers Mallorca reached a new high of 500M Euro of sales volume in 2017
The „Engel & Völkers Market Report Mallorca 2017/18“shows a total overview about the real estate market on Mallorca. This market report has been compiled from market analysis based on different internal and external sources. Its aim is to present a detailed, objective and transparent overview of the real estate market in the Balearic region, more specifically on the main island of Mallorca. Engel & Völkers has 17 shops on Mallorca and is the market leader for international real estate with over 25 years’ experience on the island.
Find the detailed information in our Market Report Mallorca 2017/18.
Shortage of property supply in Mallorca
The increasing demand for properties in Mallorca causes the shortage of available properties in Mallorca. The Majorcan real estate market experiences a shift to the vendor’s market. This market shift can lead to a rise in average prices for properties.
Data Source: Casafari
33% of the international buyers on the Balearic Islands trusted Engel & Völkers
For the foreign buyer’s market in the Balearic Islands the market share of Engel & Völkers was around 33%. The total volume of real estate transactions on the foreign buyer’s market reached almost 2 billion Euros.
Record year for Engel & Völkers Mallorca
Engel & Völkers Mallorca reached a new high of 500M Euro of sales volume in 2017. Here the international buyers remained the biggest buyer group in the real estate market.
Outlook: Prices for properties on Mallorca continue to rise
Prices of properties in Mallorca in 2018 are forecasted to rise further. This is caused by the excess demand, which goes along with the market shift. Increased by the ever-dwindling number of available building plots in prime locations, the upward trend will be intensified in the future, especially in the premium segment.
Read our Market Report Mallorca 2017/18 directly here.
Or read articles about our Market Report here:
Süddeutsche Zeitung | Die Welt | immoCompact | Mallorca Zeitung | Mallorca Magazin | AbcMallorca | Property Investor Today | European News | Easier.com | Diario de Mallorca | Ultima Hora | Periódico de Ibiza y Formentera | ibeconomía.com