Confidence growing in the real estate market this year
Mallorca properties market
Come the end of last year, First Mallorca, which currently operates out of five offices with 42 multilingual staff, has produced 16 percent more sales than in 2011.As market reports show the average selling price fell from 1.1 million euros in 2009 to 810.000 euros in 2012. The German purchasers nearly doubled in 2012 while Spanish buyers almost vanished from our statistics.
A new front-line property in the area of Puerto de Andratx sold this autumn for a sqm price of approximately 23.500 euros.
Whilst the apartment market is experiencing healthy demand, First Mallorca, is also noticing a stronger interest by investors for exceptional fincas with extensive land. Enjoying the same attention are attractive building plots with uncompromised privacy and “a world on its own”.
The rental market is strong with German clients heading rental contracts by over 50 percent. The contracts are mostly with Spanish owned properties, the British coming a close second.
The Germans top the table of purchasers accounting for 45.68 percent of the market followed by the British on 24.13 percent, the Swedish with a 12.93 percent share of the market, the Austrians on 4.31 percent, with the Russians a similar share.
PROPERTY SALES l Total number of sales: 116 l Turn-over of sales: 94.004.240 € l Highest sale: 5.600.000 € lLowest sale: 80.000 € l Negotiation margin: 10.87 percent l Average property price: 810.381 €