Mallorca 21 July 2017
On Saturday de 14th of July, Managing Director of Balearics Sotheby's International Realty Alejandra Vanoli, was broadcasted to share her knowledge about the real estate market.
Over half a thousand luxurious properties are on the market in the island at the moment. These properties have prices which go from 1 million, such as a penthouse in the historic center of Palma, to 3 million, the average price of a high standard house in the southeast of Mallorca. Nevertheless, it is also possible to find properties in that group for just over half a million euros. These prices aren’t reachable for everyone’s pockets, but have found in the international market, a constantly increasing client.
Mallorca is one of the trendiest destinations for countries like Sweden, Norway or Denmark. Scandinavian clients are recently increasing, while others decrease, such as the British, others maintain previous levels: Germans and Swiss. This combination composes 40% of the real estate sold in the Balearics in the last year, in which the local Government gained 544 millions of euros through taxes collected by property transactions. It’s a 20% increase on what was expected.
When referring to luxurious properties, Andratx and Palma’s old town are the preferred destination for clients with a high financial situation. Most of them are 40 to 45 year old business people from the technological sector, attracted by the security and the landscapes of Mallorca. This is what they ask for, according to the Managing Director of the Real Estate company Balearics Sotheby’s, Alejandra Vanoli.
According to Vanoli, they are mainly second home’s acquisitions, as the buyers only remain periods of the year in the Balearics. Moreover, they all fulfill their fiscal obligations when buying and selling properties.