Almost 40% of Balearic home purchases were foreign in 2016

Last year, sales were up by over 22%, which was above the national average of 14%. The total number of transactions was 15,844, the highest since 2007. Of these, 37% involved foreign buyers.

In Spain as a whole there were 460,000 transactions. The level of foreign buying in the Balearics makes the region one of the most susceptible to any Brexit impact. UK buyers head the list of foreign buyers in Spain generally, and the Balearics have the third highest exposure to the UK market out of the country's regions.

The price of housing rose by 1.9% in Spain last year and by 1.4% in the Balearics. The highest prices were in Ibiza Town (2,868 euros per square metre), followed by Santa Eulalia del Rio and then Calvia (2,435 euros) in third. Under 2,000 euros were Palma and the other larger Majorcan municipalities - Inca, Llucmajor, Manacor and Marratxi.