While used properties are selling well, the market for new homes is sluggish.

While used properties are selling well, the market for new homes is sluggish. | Miquel Àngel Cañellas

Majorca Daily Bulletin reporterPalma10/05/2016 00:00
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There is more sign of the renewed buoyancy of the Balearic property market, sales having increased in March by almost 25% over March 2015. This represented 972 transactions and was the second highest level in the country, as determined by the number of sales for every 100,000 inhabitants. The Balearic percentage was 108, exceeded only by the Canaries with 127.

In real terms, Andalusia registered the most sales - 6,299 - followed by Catalonia, Madrid and Valencia. There was sales growth in all but two regions - Galicia and La Rioja - with the Canaries (at 52.7%) having experienced the highest growth. In the country as a whole there was an increase in sales of 16.8% compared with last year (31,925 transactions in all). There was, however, an 8.2% fall in sales by comparison with February.

For the first quarter from January to March there was a 9.2% increase over the first quarter of 2015, helped mainly by the sale of used homes. New property sales dropped by 13%.