”Palma remains Mallorca’s top destination for culture, sport, gastronomy and shopping.“ Terence Panton Managing Partner of Engel & Völkers Palma Centre & East 18 years on Mallorca and 18 years with Engel & Völkers ”Palma is one of the most popular destinations in the Mediterranean and offers ideal buying conditions.“ Hans Lenz Managing Director of Engel & Völkers Palma Southwest Born on Mallorca, 7 years with Engel & Völkers Number of Real Estate Transactions Palma, the capital city of Mallorca, is highly popular and Real Estate Transaction Volume among residential property purchasers; it is undoubtedly an international hotspot. The current number of 7,500 1,400 M transactions easily surpasses the amount of last year 6,500 1,200 M and has more than doubled since 2014. Accordingly, the volume of transactions has increased by more than 5,500 1,000 M a hundred percent to a forecast result of more than 1.2 billion euros in the same timeframe. Whether it is 4,500 800 M families, couples or business people, buyers are mostly 3,500 600 M looking for penthouses / apartments with terraces or outdoor space. 2,500 400 M The island’s capital has traditionally proved popular 1,500 200 M among all groups of buyers. Although some townhouses can reach prices up to 4 million euros,there is an especially strong demand for properties with prices under 500,000 euros as well as between 1 and 1.5 million Number of Transactions Transaction Volume Prognosis euros. Fewer properties are coming onto the market to Figure 9: Real Estate Market – Palma de Mallorca, Ministerio de Fomentomeet demand. Increasingly, Palma is being discovered by EUR stinU 20142015201620172018