Figures from Spain’s National Statistics Institute show that last year was the strongest for the Balearic property market since the global economic crisis. 10,605 property sales took place in 2015, the highest since 2008 – an increase of almost 15% year-on-year.
The same data showed an 11.1% increase in property sales across Spain as a whole, highlighting once more the relative strength of the market in Mallorca and Ibiza. A separate study by property website ‘idealista’ revealed that while property prices across Spain declined by 2% in 2015, prices of Balearic property rose by 3.3% with some of the most popular tourist areas such as Andratx rising by up to 8%.
Alejandra Vanoli, Managing Director of Mallorca Sotheby’s International Realty, says, 
“These figures really reflect what we are seeing on the ground here. Last year was a record one for sales since the Sotheby’s International Realty Balearic operations opened – helped by our new Scandinavian department and the opening of our rentals division. Resales have once again provided the driving force behind the strong Balearic market recovery – 80% of sales are of resale property, proving that buyers love a well-looked-after, established home.”
“In addition, expectations are that 2016 will be a great summer season for tourism,” continues Alejandra. “There are new low-cost flight routes from the UK from London Stansted Airport, and a rush is on to book the no-frills seats before they run out. In fact, ABTA has urged any Brits wishing to book a holiday in Spain this summer to do so as soon as possible as current hotel allocations are nearing capacity and there is no guarantee more space will be available. This again, is where our new rentals department comes into its own.”
While demand from the tourist trade looks like it will be very high for the summer of 2016, more and more beds are being added to Mallorca’s hotel stock all the time. Among the new hotel openings for the summer season are two refurbished Meliá Hotels under the ‘Sol’ brand. In addition, five new luxury boutique hotels will be opened in Palma by 2017, bringing the number in the city to 23 and cementing its place as the European city with the most boutique properties.
On the Market in Mallorca (see more in gallery):
Ref 7453 – Modern Villa, Port Andratx
Set in Mon Port with the ideal orientation to the southwest, this modern newly-built villa offers magnificent views of the natural harbour of Port Andratx. The generous living area, including the guest apartment, is divided into four bedrooms with en-suite bathrooms, a bright living/dining room with fireplace and a designer kitchen equipped with Gaggenau appliances. The outdoor area boasts open and covered terraces with a beautiful pool enjoying breathtaking views. The perfect place to relax.
Four Bedrooms, Five Bathrooms
Built Area 450m², Plot Size 1,391m²
Price 5.7 million euros (approx 4.4 million pounds)
Contact Mallorca Sotheby’s International Realty via www.mallorca-sothebysrealty.com
Ref 7122 – Luxury Apartment, Cas Catalá Nou
This unique, luxury apartment is located in the privileged residential area of Cas Catalá Nou with exceptional views over the bay of Palma. The property comprises an open-plan lounge, dining and kitchen area, three bedrooms, two of them with en-suite bathrooms and dressing rooms, guest toilet, covered terrace, service room and private garden.
Three Bedrooms, Two Bathrooms
Built area 213m²
Price 2,488,850 euros (approx 1.92 million pounds)
Contact Mallorca Sotheby’s International Realty via www.mallorca-sothebysrealty.com
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