“The beautiful north offers tranquility, relaxation and an excellent infrastructure to every property owner.” Gary Hobson Managing Director of Engel & Völkers Mallorca North 12 years in Mallorca and 10 years with Engel & Völkers The beautiful north of Mallorca offers spectacular international school) are ideal for year-round residency. As mountain scenery, a wonderful coastline and villages a result, the volume and number of property transactions steeped in tradition and culture. have developed very positively over recent years. In the last five years, the volume of sales increased from around Thanks to its good infrastructure, the region is easy to 120 to a forecast result of around 330 million euros in access from Palma, so places such as Pollensa (near the new 2018, as current market data shows. Whereas, the number of sales has also more than doubled, to a value of 1,500 in 2018. This proves the growing interest in the north of Number of Real Estate Transactions the island. and Real Estate Transaction Volume Traditional “fincas” and modern, minimalist villas and 2,100 350 M apartments are proving particularly popular, selling within a short period of time when competitively priced. 1,800 300 M Properties that have a valid ETV (holiday rental license) 1,500 250 M continue to be especially attractive. 1,200 200 M Buyers from Germany, Switzerland, France and Spain were more active in the region in 2018, whilst the high interest 900 150 M from UK buyers has somewhat declined. This was mainly 600 100 M to do with the Brexit negotiations and the weak pound. The region is popular with all buying groups, so families, 300 50 M couples and investors alike are in search of properties. Buyers normally have their funds in place to make a speedy purchase. Immediate access to the sea is a must Number of Transactions Transaction Volume Prognosis for many, but the rural peace and quiet found in the north Figure 13: Real Estate Market – Mallorca North, Ministerio de Fomentoalso has its appeal. EUR stinU 20142015201620172018