Current trends - property prices in Mallorca
According to data from the Spanish online platform „Idealista.com“, the largest price reductions were registered in Sencelles, Son Servera, Cala Ratjada and Artá in August 2020 compared to the previous year.
Buying a house or apartment in the Balearic Islands is no longer an easy option for many potential investors due to the current uncertain economic situation. At least on the local housing market. While the demand for luxury properties on the Spanish vacation islands is increasing while supply remains largely unchanged, the prices of properties in the lower and middle segments are stagnating. This is the conclusion reached by the Spanish real estate platform „Idealista“ in its monthly price index. The average price per square meter of residential property in the Balearic Islands was €3,060 in August 2020, 1.1 percent higher than in the same period last year.
On Mallorca, registered „Idealista.com“ registered the biggest price reductions for properties in Sencelles (-12.8 percent), Son Servera (-13.2 percent), Cala Ratjada (-10.9 percent) and Artà (-10.6 percent).
In contrast, price increases for property sales were recorded in Sóller (20.8 percent) Valldemossa (+18.9 percent) and Campos (+13.5 percent). In Palma, the price difference for property purchases was -0.5 percent compared to August 2019.
