Engel & Völkers Licence Partner Pollensa > Blog > 2020/2021 Market Report: Engel & Völkers presents current property market developments in the north of Majorca

2020/2021 Market Report: Engel & Völkers presents current property market developments in the north of Majorca

In the course of your planned property purchase in the north of Majorca, you can obtain comprehensive information about the current market situation in the new Engel & Völkers market report and draw valuable conclusions for your project.

A relaxed atmosphere, beautiful nature and heavenly beaches give the north of Majorca a special charm. According to Engel & Völkers, the mild temperatures all year round and the distinctive towns of Pollensa, Puerto Pollensa and Alcúdia are also good reasons for prospective real estate buyers looking to purchase a villa or flat in the north of Majorca. Whether you want to settle near the coast, in particularly quiet surroundings or in the centre of one of the beautiful residential areas in the north of Majorca, purchasing a villa, a townhouse or an apartment in collaboration with real estate agency Engel & Völkers will be worthwhile for you.

The new Engel & Völkers market report for Mallorca shows that families and professionals in particular are among those interested in buying a villa in the north of Majorca. They appreciate the Mediterranean lifestyle on the island and also see the MySchool international school located here as a convincing reason to buy property. For example, the north of Majorca is seeing an increase in international property buyers who want to make their dream of owning a villa on the coveted Balearic island come true.

In addition to the excellent infrastructure in the north of the island, which is characterised by the very good motorway connection to Palma, its various hospitals offering ideal care provision also contribute to the popularity of this sought-after residential location, according to the 2020/2021 Majorca Market Report. Likewise, the planned reopening of the Four Seasons Group's Hotel Formentor in 2023 is an important factor for the attractiveness of the north of Majorca and equally for stabilising the real estate market. There are also top-class restaurants in this part of the island as well as the opportunity to enjoy sports thanks to its two golf courses and various options for water sports. Buyers of real estate in the north of Majorca are particularly interested in properties that are furnished in a modern, minimalist style; in addition, finca country houses in rural areas as well as villas and apartments with sea views are highly sought after by buyers.

The north of Majorca is an ideal location for buying real estate

A look at the current 2020/2021 Majorca Market Report reveals that so far the Coronavirus pandemic has not had a negative impact on the high demand for exclusive properties in the north of Majorca. For example, the average price of villas and apartments has remained largely the same in 2020, as can be seen by comparing the average prices for these properties in prime locations in the north of Majorca in 2019 and 2020. These have remained almost unchanged; only villas have sold for a higher price of EUR 6,000,000 in 2020, up from a maximum of EUR 5,700,000 in 2019. Pollensa and Alcúdia are also particularly sought-after locations, which, thanks to their proximity to beautiful Majorcan landscapes and the Mediterranean Sea, always attract prospective real estate buyers wanting to purchase a property.

The average purchase prices for villas and apartments in 2020 also show that exclusive properties in both prime and good locations in the north of Majorca remain extremely popular. For example, the average purchase price for villas in the prime location of Formentor in 2020 was up to EUR 6,000,000, with apartments in this location fetching a maximum of EUR 400,000. In the very good locations, which include Escorca and Pollensa, our Engel & Völkers real estate agents also recorded average prices of between EUR 2,500,000 and EUR 3,500,000 for villas and up to EUR 400,000 for apartments in 2020. In Puerto Pollensa and Puerto Alcúdia, which are also among the most sought-after residential locations in the north of Majorca, purchase prices of up to EUR 350,000 were also achieved for apartments according to the current market report, with sea views representing a strong purchase argument and at the same time a relevant price factor.

- Market report Engel & Völkers

Make your house purchase with our professional real estate agents

Our real estate agents at Engel & Völkers forecast continued stability for the Majorcan property market in the future. This forecast is not just based on the fact that the average transaction price has not flattened even in times of Corona; in addition, demand continues to rise, especially for properties in rural areas. It is not only buyers from Germany who decide to purchase a villa, a flat or a townhouse in the north of Majorca; top-class properties for sale in this exclusive property location are also highly sought after by prospective real estate buyers from the United Kingdom and Spain. Find out about further developments in the property market on Majorca and read the new market report from Engel & Völkers Majorca North or contact our local estate agents here for a face-to-face meeting.

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