BUYING and selling of property amongst the foreign community in the Balearic Islands registered a year-on-year upturn of 6 percent in the third quarter of this year, Central Government reported yesterday.

The Housing ministry confirmed that between the end of June and September there had been 445 transactions undertaken by foreign residents, compared to 420 in the same period last year.

In terms of the type of purchase made during the third quarter this year, foreigners bought a total of 134 new properties and 311 second hand.
Nevertheless, housing market cumulative figures for foreigners in the Balearic Islands over this year are still negative. With 1'730 transactions having taken place in the first three months in 2008 and only 1'193 during the same period this year, this means that there has been a 31 percent slump in property movement.


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