Spanish Notaries registered 9280 property sales in 2014 in Balearics. About 2250 of these sales are done by foreign buyers in Mallorca. About 15% of these foreign sales were for properties above 500.000€. This compares to just 7.4% in Andalucia and 6.5% in Catalunya.
This proves the fact that the Balearics is the only region that proved to survive the crisis where a melting pot of nationalities has kept the property market busy and buoyant. Sales went up by 18.5% in Balearics compared to 2013.
Scandinavian buyers did about 10% of the transactions, about 225 in 2014
Ahmet Senoglu, Partner at Mallorcaresidencia follows the market very closely and his market update reports are well known.
He comments the following about the Scandinavian market: “- The strong EUR vs SEK is affecting the Scandinavian sales slightly negative in 2015 but there is still an increasing demand from Scandinavians for properties in Mallorca. Most of the Scandinavian buyers are aged 45 plus using their second home for holidays. There is also some increase among younger Scandinavian families moving for long term to Mallorca thanks to the Swedish school. Our clients prefer Palma and Southwest of Mallorca areas for their new purchases. I can say that the demand is solid for the first half of 2015.
Read the press release here.
