Mallorca leader in the sale of luxury homes

The demand of foreigners for luxury properties in Majorca has increased. Especially Scandinavians and Russians acquire more villas and apartments on the island, than in any other region of Spain. During 2012 alone, foreign buyers have invested about one billion euros in the Balearic Islands . In 2013, this amount was slightly exceeded.

As the newspaper " Ultima Hora " writes, referring to the Spanish Notary Association and the Spanish Tax Agency ( AEAT ), 729 properties in the luxury range (from 0.5 million euros) changed owner in 2012 on the islands . Most of the buyers were foreigners. The average amount per transaction involving apartments and chalets was 1.1 million euros .

In 2013, the total investment of one billion euros was exceeded , because more transactions happened in the high -price segment, where prices have been around three to four million euros and more (one particular case, for example, in Port d'Andratx involved a six million euro property).

The Notary Association appreciated the increased demand as a sign of confidence of foreign investors in the economic development of the island. Besides Scandinavians and Russians, British and Germans are usually acquiring properties in the Balearic Islands .

Source: Mallorca Magazin

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