Real Estate Market in The Balearics on The Rise
Recovering faster than the rest of the Spain
Although figures are nowhere near the number of sales that were made before the economic crisis, the latest figures from the national statistics office are promising.
In Spain, the number of apartment sales rose by 2.2 percent last year, the first increase since 2010, whilst in the Balearic Islands the increase was an astonishing 18.5 percent.
But to put it in perspective; in 2007, pre economic crisis, there were more than 20,000 units sold in the Balearic Islands. However in 2014 the number of new apartment owners was just over 9000. An increase of 1450 on 2013, so a good growth rate but still no where near previous figures.
The real estate market in the Balearic Islands is traditionally divided into two parts, and whilst the crisis hit the normal housing market hard, brokers of high quality vacation property reported decent growth rates, even soon after the crisis hit.
