Property

Sales of homes in the Balearics go down

Majorca Daily Bulletin reporterPalma29/09/2018 15:34

Figures from the national ministry of development show that the sale of homes in the Balearics fell by two per cent over the second quarter of the year. There were decreases in only two Spanish regions between April and June: the Canaries was the other. The number of transactions in the Balearics was 4,910. In the second quarter of 2017 it was 5,012.

In Spain as a whole, there was an average increase of 11.5%, which equated to 160,287 transactions. This was the second highest quarterly figure since 2007. The regions which registered the highest relative increases were Asturias (up 22.2%), Andalusia (21%) and Aragon and Murcia both with 20.3%.

Palma was eighth among major cities. There were 1,714 sales during the second quarter. Madrid topped the list with 12,949, followed by Barcelona with 4,184. Immediately above Palma were Alicante with 2,003 and Malaga (2,338).

Sales to foreign buyers over the quarter amounted to 25,454, almost 16% of the total. Alicante province recorded the highest number.