The sale of homes in the Balearic Islands returns to the figures prior to the 2008 crisis
The Balearic property market is undergoing a revolution in many ways. While only 1% of rental homes in Palma fall below 600 euros, the sale of homes registered its best month of November since 2007, with figures close to the years prior to the global crisis. In the eleventh month of 2021, the Islands recorded 1,496 operations to buy and sell homes. Compared to the same month a year ago, registrations have shot up 70.8 percent. According to the latest data from the National Institute of Statistics (INE), the Islands also lead the percentage growth in Spain, since the average increase in the country was 34.7%. That is, half of what is documented in the Balearic Islands.
If we take into account the total number of properties transferred, 5,339 were registered in the entire month of November. The last time such data was recorded was in November 2007, the year before the start of the global crisis, in which there were 5,349. In 2008, just one year later, the number dropped dramatically to 3,803. Although the lowest data of the decade was slow in coming: in 2014 it reached 3,060 transmissions.
As for the annual variation of transmission of farms, the Balearic Islands is the second community with a higher percentage (26%), only behind Cantabria (33.8%). The third is Andalusia, with 23.3%.
The months of September, October and November are usually crucial for both clients and companies because, after spending the entire summer evaluating homes, purchases tend to be “more thoughtful and less impulsive”.
The communities that present the greatest annual increases in the number of home sales in November are, therefore, Balears (70.8%), La Rioja (56.4%) and Cantabria (49.9%). As can be seen, the difference with respect to the second is more than 14 percentage points. The national average stands at 24.4%. Thus, 20.7% of the houses transmitted by sale in November are new and 79.3 percent are used.
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According to Francisco Iñareta, spokesperson for idealista, “the number of families competing for each rental home does not stop growing, which shows the effects of the destruction of supply that all the political measures adopted in the last 6 years are causing. With hardly any housing on the market, the possibilities of accessing a rental are drastically reduced, making it...
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The neighborhoods of Nou Levante and La Soledat will be able to energetically rehabilitate their homes with European subsidies
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One out of every three homes in the Balearic Islands is either vacant or only used for a few days a year.
In the midst of a housing emergency in the Balearic Islands, where real estate listings show barely twenty apartments available for rent under 1,000 euros in Palma, and with the highest property prices in all of Spain, there is a paradox: one out of every three homes is either vacant or a second residence that is only used for a few days a year.
Data from the 2021 Housing...
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Reasons why collaborating between agencies benefits everyone and reduces the risk of scams.
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Collaboration between real estate agencies is not only a beneficial practice for everyone involved in the buying and selling process, but it is also an effective strategy to reduce the risk of fraud. This collaboration allows the pooling of resources, experiences, and knowledge, resulting in...
Loving Networking Can Make Your Life as an Entrepreneurial Agent Easier
Ah, networking! That magical art of making friends at conferences and business parties that, in theory, will help you conquer the real estate world. If you love networking, congratulations! Not only will you look incredibly busy with business cards and LinkedIn contacts, but your life as an entrepreneurial agent could turn into a truly epic adventure. And if you haven’t jumped...
Discover Vicky Vich
Who is Vicky Vich?
Today we are getting to know one of the key personalities of our REU family better, the REU Club Events Ambassador, who energizes REU meetings by perfectly combining the unique qualities that make her personality that of a true Empress by nature.
José Manuel Puga interview
Patricial Pal, de REU Ambassadors Sections, entrevista a josé Manuel Puga, CEO & Socio Fundador de la Asesoría Puga & Alarcón.
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Networking Event 25 of May
We already have a date for the next REU meeting. Make a hole in your agenda and come meet new people and generate new opportunities!
Now is the time to strengthen strategic relationships within the sector. Come share with us on Thursday, May 25, 2023 from 7:00 p.m. to 9:30 p.m.