Property prices beginning to rise in Mallorca

There is growing evidence to suggest that both sale of property and its prices are going up in the Balearic Islands as a whole. One of the clearest indicators seems to be the contrast with 2011. The Balearic government released figures that showed a 17% fall to the end of that year, for example. By November 2012, however, statistics were pointing to sales having risen by 9.1% in Mallorca since the September of the previous year. From August 2011 to that time, 33% more properties were registered as being sold, and by December was reporting Mallorca as having the second-highest number of property sales in Spain behind Castilla La Mancha.

Analysing the 2013 market in Mallorca, opinions from a variety of local agents conclude that registration of sales has actually grown every year since the “crash” year of 2009, and agrees that 2012 was the year in which the market really began to stabilize. What were the clients’ current choices? Any properties with perfect sea views and/or of absolutely contemporary design.

Mallorca on top of the other property markets

There are other indicators too, which often come down to the experience of individual agents. In February last year that there was a widening gap between what the client was prepared to pay and the price which vendors had in mind. They may well have been leading a recovery in their anticipation, because by this year, and giving detailed property price figures, kyero.com was claiming that, “The Mallorcan property market appears to be more robust than in the rest of Spain.”

Some of the latest news comes from Tinsa, the valuation company, which gives a 3.3% price rise in the Balearics and Canary Islands by April 2013. The rest of Spain declined by 10.5%. It is hard to find negative news regarding Mallorca house prices at the moment, and though of course this is good for the market, it does suggest that now is as good time as any to buy your Mallorcan home. Why wait for a mythical time in the future that may or may not come?

Balearic Properties is one of the leading companies in Mallorca with a portfolio of more than 2400 properties for sale.

By +Maria