The increase in foreign buying in the Balearics was below the national rate.

18-04-2017MDB

The General Council of Notaries' report for property sales in the second half of 2017 points to there having been 49,553 transactions involving foreign buyers in Spain as a whole. This was an increase of just over fourteen per cent.

In the regions, the highest increases in relative terms were in Extremadura (up over 50%), Cantabria and Navarre. Below the 14.1% national increase were four of the main coastal regions of Spain, with the Balearics having been one of them. The rise in the Balearics was 5.3%, lower than Andalusia (12.8%) and the Canaries (8.7%) but above Catalonia (2.5%). In the case of Catalonia, the growth was in marked contrast to an increase of 19.8% in the first half of 2017.

Although the Balearics growth was relatively low, foreign buying still amounted to 40.5% of all transactions, the highest proportion in the country. Below the Balearics were the Canaries with 37.6%, Valencia (37%) and Murcia (28.4%). The lowest proportions were in Extremadura, Galicia and Castile and Leon, all below five per cent.

As for prices, the average per square metre paid by resident foreign buyers was 1,420 euros, an increase of 4.6% over the second half of 2016. Non-resident foreign purchasers were paying more - 2,027 euros, a rise of 8%.

By nationality, Moroccans registered the highest percentage increase - 35.6% - followed by Ecuadoreans and Portuguese. With the British, there was a rise of 7.8%, which represented a notable recovery. In the second half of 2016, i.e. after the Brexit referendum, there was a 23.6% slump. In the first half of 2017, there was a further decline, one of 16.1%.

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James Worrall / Hace 5 months

Just got back from Deia, Mallorca where they are building 22 - 2/3 bed houses. To buy one will set you back around $1 million. Is this what the Majorcans call Affordable housing? . Be nice to see them full with Majorcan families next year.

+2-

Stuart Mead / Hace 5 months

Don’t worry. The English will leave Majorca once brexit arrives and you can go back to nothing..You don’t like us anyway so why should we spend our money there?

+6-

John / Hace 5 months

@Richard. The south of france I referred to was the Côte d'azur. Prices like-for-like are more expensive there, and they don't have the beaches or calas like we have. The cruising for boaters here is also beyond comparision. A price study makes Mallorca look like a bargain.

+-5-

Richard / Hace 5 months

John I agree with your broader comments but I know the south of France well and really, it’s cheaper to buy a country house there if you know where to look. Tim, I suggest you moderate your language and follow the estate agent websites, you can see prices increasing by the day, largely because there’s a shortage of food houses. Regarding your properties, maybe you should make sure they are what the market wants, at the right price. I bought some land recently which has gone up by 10k a month in the last six months. Like everywhere you need to be smart.

+-3-

John / Hace 5 months

I've just returned from a visit to the south of france and Ibiza, and properties here are not expensive here at all. It's just that many people coming here think that it will be as cheap as Turkey or the Spanish mainland for some reason. This is a beatiful paradise island with it's calas and mountains, food and culture, and far superior to these other places, if you cannot afford it have a look at somewhere cheaper. We do not need so many low-spending tourists here, - that's a fact, we don't have the water, the powers to police them, or the cheap accomodation for all the staff requured at the all-inclusive "hotels" now. Regarding proprtt sales, banning holiday rentals will raise prices in apartment blocks because higher-spending buyers don't want a stream of cheap tourists living next door to them, with the lifts over-occupied and the noise from arrivals and departures etc.etc.

+-9-

John / Hace 5 months

I'vw just returned from a visit to the south of france and Ibiza, and properties here are not expensive here at all. It's just that many people coming here think that it will be as cheap as Turkey or the Spanish mainland for some reason. This is a beatiful paradise island with it's calas and mountains, food and culture, and far superior to these other places, if you cannot afford it have a look at somewhere cheaper. We do not need so many low-spending tourists here, - that's a fact, we don't have the water, the powers to police them, or the cheap accomodation for all the staff requured at the all-inclusive "hotels" now. Regarding proprtt sales, banning holiday rentals will raise prices in apartment blocks because higher-spending buyers don't want a stream of cheap tourists living next door to them, with the lifts over-occupied and the noise from arrivals and departures etc.etc.

+-7-

Tim / Hace 5 months

Total crap 2 properties for sale not even a nibble

+-4-

Richard / Hace 5 months

Perhaps lies, damn lies and statistics...however: perhaps just capricious U.K. buyers. The real facts are that property here is getting very expensive again. Meanwhile people ready to retire are starting to get sensible about exchange rates (ie they may get a little better over the next few years but we have seen the last of 1 pound = 1.50 euros) and are balancing that against a strong stock market for their pensions (for now) and residency implications next year on Brexit and the frankly sorry state of the U.K. and saying, ‘what the hell’ and retiring early and hopefully coming here to add more wealth to the island (more, at leat, than a cruise ship passenger). As I regularly say, Mallorca is not perfect but now is the time to jump in and buy if you are about to retire. Sales are booming and a lot of people are going to be priced out if they don’t act fast...

+3-

Henry James / Hace 5 months

Lets see how many of these properties are put up for sale following the crack-down on holiday lettings and lets see how many Brits buy property in Majorca from this point on.

+11-