The Market Centre concept (MC) has also demonstrated its increased profitability. The three Spanish MC’s in Barcelona, Madrid and Valencia brokered sales totalling 408.4 million euros representing a 71% increase over the same period in 2016. Real estate sales were up by 55% and rentals increased by 30%.
Demand for premium property in Mallorca & Marbella
There has been extraordinary increased demand for premium properties in areas such as Mallorca and Marbella. Engel & Völkers Mallorca with 17 shops and more than 25 years’ experience on the island, reported sales increase of 24% over the same time last year with total sales transaction volume of 270.5€ million euros. The average price of property sold during this period also increased by 9% to 1.2 million euros.
The main buyers are German speaking, British and Scandinavian with increased Spanish and French investors coming into the market. The Brits continue to buy in Mallorca and in some areas of the island Engel & Völkers has reported increased sales to British investors.
The resurgence of the market in Marbella, which is currently enjoying its best period in years, demonstrates increased demand from premium real estate investors. In the past two years developers have started to construct new modern, quality projects in a wide range of prices. There’s also demand for property to refurbish. There’s growing interest from German, Swiss, Belgian buyers together with long term Dutch and Scandinavian investors.