Balearics is the most expensive region for housing in Spain
Formentera is now the most expensive municipality in Spain.
Menorca scene
Cash payments by both resident and foreign buyers.
Balearic Government sets to work on limiting the purchase of housing to non-residents
The president hopes that Spain’s forthcoming presidency of the European Union (EU) will open the way.
Home sharing takes off in Mallorca as the cheap alternative to owning a property
"A cheaper way of property ownership..."
15% fall in Balearics sale of homes forecast for 2023
The average price of homes forecast to remain the same.
Menorca scene
Property transfer tax revenue is up 50%.
Tax cut being considered for purchase of "average-priced" homes
And a further increase in the tax on luxury properties is also being looked at.
Price of used homes in Mallorca continues to rise
The market is expected to slow in the second half of 2022.
Balearics have the highest percentage of rented homes in Spain
Getting on for 40% of homes were bought by foreigners in 2021.
Property purchases by millionaires boosts Government's revenues
2021 ends with 340 million more than in 2020 thanks to the tax levied on the purchase of homes.
Price for new homes increased most in the Balearics in 2021
Above a national average of three per cent.
Balearics most expensive for secondhand homes
Barcelona the second most expensive province.
Apartment development in Palma, Mallorca
140 new homes sold in July.
Sale of homes up 50% in the Balearics
The figures do of course reflect the influence of the pandemic on the property market.
Property
Almost 40% of properties were sold to foreigners in 2017
14,834 properties in the Balearics were sold to foreign buyers in 2017.