Homes & Holiday AG
MARKET STUDY HOLIDAY PROPERTY MARKET BALEARIC ISLANDS 2018: 70% of the properties on offer are in Mallorca, Ibiza consists of 80% luxury offers and Menorca offers low entry prices. (news with additional features)
DGAP-News: Homes & Holiday AG / Key word(s): Study/Real Estate MARKET STUDY HOLIDAY PROPERTY MARKET BALEARIC ISLANDS 2018 70% of the properties on offer are in Mallorca, Ibiza consists of 80% luxury offers and Menorca offers low entry prices.
Holiday properties in Mallorca, Ibiza and Menorca are very popular with foreign investors. More than one in three buyers does not live in Spain, and property transactions in the Balearic Islands have more than doubled in the last five years. In the first quarter of 2018, the STI Center for Property Studies (CRES) was commissioned by Porta Mondial, an estate agents specialising in holiday properties, to analyse the holiday property market in the Balearic Islands, analysing over 6,500 online property offers from the largest brokers on the islands. The result is a representative image of the current market offer with a neutral price comparison list. On all three islands, the relatively small supply of holiday homes in the northern parts of the island is striking. In Ibiza, the Sant Joan region accounts for only 4% of the offers, Mallorca’s north comprises 10% and Menorca, too, at 12% does not have many properties in the northern part. Depending on location and how well the largerproperty is equipped, average prices range from EUR2,200 per square metre to over EUR8,300. The largest price range is covered in Mallorca, Ibiza is in the upper third due to the many luxury properties, while Menorca is in the lower price range due to more medium and simple properties. Prof. Marco Woelfle, head of the study, states: “As a rule of thumb, upper prices in Menorca roughly correspond to the entry prices in Ibiza”. Together, the Balearic Islands have more than 1,100 km of coastline. In the present market study, CRES market researchers also analysed the price differences for the front line to the sea per island. The highest surcharges for direct coastal or beach locations were determined with an average of 4,700 Euro/square metre on Mallorca. According to the study in Ibiza and Menorca this situation is not so important. Prof. Woelfle explains this with the fact that “most of Ibiza’s holiday properties are in a special location anyway and this has already been priced in in advance with the relatively high average level”. Similarly to Menorca, many properties are concentrated in coastal locations and the front line is not as pricey as in Mallorca. There are many different locations on the largest Balearic island, from the lowlands in the centre of the island to the front line to the sea, which explains the relatively high price differences. Overall, the holiday property market in the Balearic Islands is well mixed. While Ibiza may be less suitable for property investment due to the high price situation, Mallorca offers a wide selection. Menorca could be an alternative for those who are looking for a summer house on a Spanish island at moderate prices. Porta Mondial’s Sales Manager for Spain, Thorsten Kaiser, can confirm this from his experience: “Menorca is becoming increasingly attractive for foreign buyers. At the moment the French and British are very active here, but German customers are also increasingly discovering the island.” He currently sees potential for value growth on all three islands: “Demand in Mallorca remains high. At the moment we do not see any regional focus in property sales, the finca in the country is just as in demand as the old town apartment in Palma or a house directly by the sea. On Ibiza, demand is currently much higher than supply, and we expect prices to continue to rise here.” Press contact, interview and picture enquiries: About Homes & Holiday AG and its subsidiary Porta Mondial Additional features: Picture: http://newsfeed2.eqs.com/homesholiday/713225.html Subtitle: Mallorca bietet nicht nur das größte Angebot, sondern auch die größten Preisspannen. Ibiza mit den vielen Luxusimmobilien ist in etwa dreimal so teuer wie Menorca, hier bestimmen Ferienimmobilien der einfachen bis mittleren Kategorie den Markt.
14.08.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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