Real Estate prices have been rising throughout the island in 2018 with many of the top agents reporting a record year both for sales and prices.
Among the top areas of interest to buyers are Palma Nova, Calvia, El Toro / Port Adriano and the Andratx areas of the island. Of particular note is the amount of property for sale in Santa Ponsa being snapped up at short notice by interested purchasers.
We spoke with a few of the key estate agents in the south all of who are feeling positive about the level of interest they have been seeing for 2018. Although many report that the market is fiercely competitive at the minute, all are looking forward to 2019 as the year that the Mallorca property market really takes off again.
In the Balearic Islands property in places such as Ibiza has been seen in recent years as being too expensive with unrealistic prices. As an alternative home buyers have increasingly been looking at the island of Mallorca for a way to get value for money while enjoying that legendary Balearic weather.
Estate Agents on the island have recently formed the Mallorca Real Estate Agent Association (MREAA) as a way to ensure that prospective buyers have a way to ensure they’re getting a reliable service. This can only be a good thing for the island in general in our opinion.