Mallorca real estate market
The Mallorca real estate market is heating up!
Why these boring statistics will interest you...and why they aren't actually very boring at all...
Especially if you want to know more about the Mallorca real estate market.
Mallorca real estate market UPDATE
The General Council of Notaries is a trustworthy source for information and provides up to date figures on real estate market transactions in Mallorca.
Data for the 3rd quarter of 2015 indicates that Mallorca and the Balearic Islands as a whole saw inter annual price rises of 9, 3%.
When you compare that to the Spanish National average which stands at 2, 7%, then you start to get an idea of how the Mallorca real estate market works, and how it does so at a completely different rate to the rest of the country.
That is not to say that the Spanish figures are uniform. Some areas in Spain show up much better than others, and the National favourite is Galicia, with an inter annual price rise of 13,3%, while the Basque country and Navarra are suffering slumps of up to -16,4%.
The bottom line remains that the Mallorca real estate market is looking buoyant and in far better health than anywhere else in Spain.
Mallorca real estate market REPORTS
In order to get a really good idea about the Mallorca real estate market, we have looked at reports over the last 2 years, and it would seem that both prices and sales transactions in Mallorca real estate have experienced a very definite rise.
Having said all this, there is another factor at play which needs to be looked at.
The Mallorca real estate market is a two tier market and the rise we are seeing in property sales is very clearly in the highest brackets of the luxury sector, high quality Mallorca real estate in the most privileged areas and bought by international buyers.
Mallorca real estate market in POLLENSA
The real estate areas which are outperforming the rest of the island are primarily concentrated around Palma and in the north east of Mallorca, in the Pollensa area.
It isn't hugely surprising either.
While the south has its obvious attractions; near the airport, capital, Palma Yacht Club, top golf courses etc. The Palma area is also far more crowded, and whereby the top end Mallorca real estate is located in the more exclusive areas, the density alone takes away from it a bit.
In the north east however, the Mallorca real estate market is different and its mere remoteness is a luxury.
Nothing is really remote in Mallorca of course. The island is only 3640 km2 and the new motorway gets you from Pollensa to Palma airport in 45 minutes, less than the average UK commute!
Mallorca LUXURY real estate market
A word on the luxury Mallorca real estate market.
Diversity is the island's best playing card. Diversity in every form; geographical, cultural, social... So, while the south of the island continues to attract beer soaked hoards of brits and hen night parties, the north of Mallorca has remained adamantly genteel and the Mallorca real estate market in Pollensa reflects this.
The north of Mallorca has always drawn an eclectic crowd however, and artists and adventurers have long known of the mountainous splendour of the Tramuntana villages and Pollensa area. This is also the home of some very illustrious residents and the Mallorca real estate market in the area is nothing if not exclusive.
Mallorca real estate market BUYERS
The attraction of real estate in the north is aided hugely by the cosmopolitan resident community.
Foreign second home buyers and those looking to relocate or retire in Mallorca are wise to invest in Mallorca real estate in areas where they will have the added benefit of likeminded individuals and an active social life.
That is not to say that a property buyer moving to Mallorca won't mix with the local community, learn to speak the language and integrate fully into island life. You can, and you should definitely try. But its always nice to know there are those who have done it already and are happy with their decision.
On more news and up to date info on the Mallorca real estate market,
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