If you are looking to relocate now is the time!
Property prices in Mallorca are creeping up for the most sought after locations and sales are also rising, including at the lower end of the market. The latest real estate analysis of the island’s property markets shows that the recovery is well underway with prices up by an average of 10% for the best quality homes in the top destinations.
A flux of foreign buyers, have fuelled the initial price increases of 10% to 15% for top quality properties in high demand prime locations.
Prices are stable in the West of the island with no significant increases recorded over last year while in the centre and South sales up by over 120% over this time last year. Prices are stable with increases of up to 10% for top locations.
Hot spots in the North include Pollensa Town and the Port with increasing interest for the coastal areas of Mal Pas and Alcanada.
In the North East prices are stable here the lower end of the market selling well for properties under €500,000.
In the South East the sales picture is similar to this time last year with prices remaining stable. The area continues to represent good value and investors are currently buying a range of properties from €300,000 to €3 million.