The Balearic real estate sector opens the US market
The real estate sector in the Balearic Islands has opened up to the US market by landing on the islands Berkshire Hathaway HomeServices, which Nova Mallorca has acquired, so that it will become the reference real estate agency for the US, as reported yesterday by the Balearic National and International Real Estate Association (Abini).
Berkshire Hathaway HomeServices is the largest agency in the United States in transactions and has more than 1,600 offices around the world, according to an association press release.
For Hans Lenz, president of Abini, the landing of the American company on the islands is very relevant at the moment because the islands have improved their connections with the United States with direct United Airlines flights between Mallorca and New York.
"Opening the door to the North American market offers us many opportunities to continue growing," they consider from Abini and highlight that the real estate market, together with the construction market, forms the second strongest industry in the archipelago with a gross domestic product of more than 20%.
Nova Mallorca was founded in 1969 and has 25 employees and offices in the center of Palma and in Puerto Portals and its CEO will continue to be Jorge Forteza, now with Berkshire Hathaway HomeServices Spain.
"Majorca and its neighboring islands have long been a favorite investment market," says Bershire Hathaway's Christy Budnick.
The price of housing continues to rise, growing 3.3% in the fourth quarter
Rental offer collapses in Mallorca
The majority of Spanish provincial capitals (32 of the 52) now have much less rental housing than there was a year ago. In the case of Palma, the drop is up to 30 percent.
The fall in rent in Spain has been evident in the last year. The supply of rental homes has decreased by 17 percent, nationwide during the fourth quarter of 2022, compared to the same quarter of 2021,...
Ibavi will guarantee the purchase of homes for people with an income of less than €68,500
The Balearic Housing Institute (IBAVI) will guarantee 20% of the mortgage down payment for the purchase of a home, a measure aimed at helping all those people with the financial capacity to pay the mortgage loan but who cannot assume this initial expense. All in all, the range of possible beneficiaries arranged by the Government is strikingly wide, since people with an income of up to 68,541...
Read more
The demand for buying flats exceeds for the first time that of renting
In 2022, the demand to buy a home represents 50% of the market, compared to 38% looking for a rental. The remaining 12% search simultaneously in both markets. This is one of the main conclusions of the Fotocasa Research report 'Radiography of the housing market in 2021-2022' prepared by the real estate portal Fotocasa, for the fifth consecutive year, with the intention of making an...
Read more
The 'Financial Times' puts sa Pobla on the map of Majorcan luxury estates
The brainy Financial Times has just put Sa Pobla on the real estate map of Majorcan luxury estates. The world-renowned economic newspaper dedicated two pages to Mallorca in its highly-rated edition last Sunday, under the heading “Where the hills meet the sea”. No, it is not about the adaptation of the balcony to natural spaces, perfected this week on the island.
...
REU in now Portalreu.com
Being consistent with our great progress as a public property portal and in accordance with SEO and SEM standards, we have changed the access domain to REU.
Now it is: www.portalreu.com Much easier to remember!
House sales soar 42% in the Balearic Islands
n the second month of the year, 1,416 homes changed hands in the archipelago.
In Spain, home sales and purchases increased by 24% compared to a year earlier and for the twelfth consecutive month, to 56,623 units, the highest figure for a month in almost 14 years (since April 2008).
Home sales in the Balearic Islands increased by 42% in February (1,416 homes), compared to the...
The purchase of housing by foreigners sweeps the Balearic Islands
Foreigners are rushing to buy homes in the Balearic Islands. According to data from the General Council of Notaries published, sales to the public from outside Spain soared 81.5 percent in the second half of 2021, making the archipelago the leading community in this respect.
Regarding average home prices, in the Balearic Islands they grew by 9.3 percent in the second half of 2021, to...