“The northeast is a traditional area of Mallorca with plenty of nature and top-class beaches.” Reiner Fischer Managing Director of Engel & Völkers Mallorca Northeast 16 years in Mallorca and 16 years with Engel & Völkers Hidden coves, little harbours, unspoilt nature and an the hotspots. At the same time, modern properties are authentic Mediterranean atmosphere in historic villages increasingly sought-after. In general, the market has and towns: this is the northeast of Mallorca between developed very positively, with a forecast result in 2018 Colònia St. Pere and Porto Cristo. of around 200 million euros, representing an increase of some 90 percent over the past five years. The number Property buyers in this region are looking in particular of transactions is also rising steadily and it is apparent for special landscapes with peace and quiet away from that the volume is rising disproportionally in relation to the number. Number of Real Estate Transactions and Real Estate Transaction Volume In the northeast there are still enough properties on 1,800 250 M the market to meet client demand in all areas. The average selling time is between twelve and eighteen months. In terms of architectural preferences, the trend 1,500 200 M is increasingly towards modern properties.Villas by the sea and fincas further inland are the most sought-after 1,200 150 M property types. The northeast of Mallorca is particularly popular with 900 100 M German-speaking buyers. They form the great majority – around 80 percent – of Engel & Völkers’ customers in this 600 50 M region. It is mainly couples and families with children who come to the region, looking for a holiday home or a property as a long-term residence. The facilities that attract them include the Rafael Nadal Tennis Academy and the International American School in Manacor. Number of Transactions Transaction Volume Prognosis The development of the region is also reflected in the Figure 14: Real Estate Market – Mallorca Northeast, Ministerio de Fomentoincreasing number of high-quality hotels. EUR stinU 20142015201620172018