Balearic property sales improve

Monday, March 14, 2011

Balearic property sales improve

There was a 14.5 per cent increase in property sales in the Balearics last year compared to 2009, according to the latest figures released by the Public Works Ministry.

For the first time in three years, there was a rise in Balearics property sales, outpacing the overall 5.9 per cent year-on-year rise in Spain property sales.

According to the official government data, a total of 491,000 residential properties in Spain were sold in 2010, with 10,860 properties in the Balearic Islands of Ibiza, Majorca, Minorca and Formentera sold.

Ignacio Osle, Sales and Marketing Director of Spain property developer Taylor Wimpey de Espana, comments: "Over the past 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily. The largest Balearic Island offers something for everyone from amazing sandy beaches to stunning scenery, idyllic coves, traditional architecture and wide range of sports and leisure activities."

The Spain house builder reports that the Majorca property market, which has long been a favourite destination with British holiday makers, has been particularly active.

Osle adds: "Majorca remains one of the most sought after holiday and second home destinations in the Mediterranean. The local property market remains buoyant with foreign buyers keen to get a slice of island life by purchasing high quality, well located properties from as little as €143,900 (£124,500)."

To read our guide on buying in Spain, click here.


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