Palma, Mallorca

Sale of homes increased almost 30% in July. | Alejandro Sepúlveda

Andrew EdePalma07/09/2022 08:23
TW
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Figures from the College of Registrars indicate that there was a 15% increase in property sales in the Balearics in July, while the national figure - by comparison with June - was just 0.1%. Only the Canaries, 20%, had a higher percentage increase, and there was only other region - Valencia - where there was a double-digit rise (11%).

For the sale of homes in particular, there was a 27.7% increase in the Balearics, whereas there was a 7% rise nationwide.

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In Spain, there is a general slowdown in the property market. The director of studies at the Pisos.com property website, Ferran Font, said on Monday that this will become more evident over the coming months. "The residential market has so far experienced an incredible boom in 2022, but from now on the sales figures are not going to be so great." The impact of inflation will be reflected in a cooling of the real-estate sector and transactions will become "slower".

For now, however, the market in the Balearics isn't conforming to this predicted slowdown.