Here comes the sun - good news from Mallorca real estate market!

There is still every reason to continue following your dream of buying a house on the Balearic Islands!

Today Engel & Völkers is looking forward to the ‘new norm’ and welcoming owners and buyers back on the island in the next couple of weeks. 

The strategic geography of Mallorca and of all the Balearic Islands means that the controlling or closing of its borders is quick and uncomplicated. This capacity to control or stop all incoming traffic enables the Islands to easily cope with the confinement and treatment of COVID-19 patients.

Deals have continued to complete, particularly offers made pre-lockdown where all the documentation and Spanish bank accounts have been in place, buyers have not been shy; they recognise that Mallorca provides a safe environment and a high quality lifestyle. Sold by Engel & Völkers this month, take a look at this fabulous villa with a holiday rental license in romantic Alcanada, Alcudia. To date we have seen no tendency for prices of properties to fall and actually do not expect this to happen as a direct result of the pandemic. Bargain hunters will need to keep their eyes peeled!

Interest is serious and virtual live viewings have become a part of real estate life. Start your search and book your virtual viewing from wherever you are in the world.

What makes Mallorca a good buy?

Spain is actively keen to stimulate and keep the real estate market moving to create turnover and jobs. Mallorca adds a big chunk to the income produced by the sector, the overall transaction volume of the Balearics being over 20% of the island's GDP since 2006 and it is the main economic driver directly after tourism. Engel & Völkers Market Report Mallorca 2019/20

Put off by Brexit? Don’t be. We remind you that investing in a property with a value of over 500.000 € entitles non-EU nationals to easily obtain residence and work permits in Spain.

Environmental savvy  with more restrictions coming into place, already 40% of Mallorca’s land is strictly protected. This in turn results in a more desirable landscape for homeowners and investors adding value to real estate. The locations of the island that are in most demand have practically no available building plots and this is pushing the market into recycling / reconverting existing buildings that meet sustainable home guidelines. 

The market for international purchasers in Mallorca reaches right across Europe. The dream of owning a home in a naturally protected, warm and sunny environment that has a modern infrastructure and that is exceptionally well connected to the rest of Europe remains very strong. 

There are very few alternatives that can deliver the qualities of Mallorca and Europeans are eager to return as soon as possible.  It is amongst the safest locations in the Mediterranean  that has an infrastructure ready to support up to twice its usual population.