The Mallorca municipality where house prices have risen the most in the past year
Prices do vary considerably from municipality to municipality
Felanitx, where the percentage increase in price is over 50%. | Gori Vicens
Palma04/12/2024 08:43Updated at 09:32
Reports about Mallorca's housing market and the prices of homes can at times perhaps appear to be somewhat contradictory. For example, in August the College of Notaries indicated that house prices in the Balearics had fallen by 6.2% in May and by 5.9% in June. However, this was set against sharp increases in previous months, such as 24% in February.
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@ Just Togetpublished : Yes and it will be Interesting who the buyers are going to be. Over the last 20 years Felanitx has become heavily populated by arabs from north Africa, mainly Moroccans. No doubt partly because many houses in the town centre were unrenovated and cheap to rent. Examples of illegal multi occupation have regularly been recorded. The council started adding arabic to their public notices several years ago, a good indication of the change in demographic, a change which surely contributed in keeping prices lower. Now european estate agents have moved in and are buying/renovating to resell. Will the demographic swing back as the North Africans are priced out or will european buyers be reluctant to buy when the neighbours are culturally very different. A fascinating conundrum with significant consequences.
Where is the source? Could you link it? Thank you
And that is because Felanitx got cheaper by comparison so people started buying there so greed set in as usual.