© Finest Selection Group
Mallorca's growing luxury property market
Transactions on properties over 1 million € increase 50%
2016 was a wonderful year for the Mallorcan luxury housing markets. Data on property transactions over 1 million euros has just been released showing that there has been a 50% growth in this kind of deals in the last two years.
This success has been largely due to foreign buyers purchasing properties on the island. Mainly Germans and Brits, but also Swedes, Danes and Norwegians have bought houses in Mallorca amounting to 1500 million euros. Luxury villas have seen a 20% increase in the average price compared to 2015, from 1.7 to 2.1 million euros.
Palma has become the luxury property market's favourite location, followed by the south-west, mainly around the towns of Calvià and Andratx. Foreign buyers have chosen these areas because of the security they provide, as well as the high-quality education and healthcare infrastructures, variety of restaurants and bars and closeness to the airport.
More inspiration...
If you're also looking for an investment on the island, want to purchase a holiday pad in Mallorca or are thinking about moving here permanently, take a look at our selection of properties for sale.
