“The centre of the island is where buyers can find a retreat from the hectic pace of everyday life.” Christina Deutsch Managing Partner of Engel & Völkers Mallorca Central 26 years in Mallorca and 16 years with Engel & Völkers Key features of the centre of Mallorca are its varied additional plus point for many buyers. Buyers tend to be landscape, its reputable wine-growing areas, its almond middle-aged couples who plan to spend several months and olive groves and the panoramic view of the Serra de a year on the island, or families with children. They are Tramuntana. The traditional villages exude a particular looking for properties either as a holiday home or as a charm – and this is attracting more and more property main residence. Investors, too, have become aware of the purchasers. The proximity to Palma de Mallorca is an market’s growth potential and are becoming increasingly active. Number of Real Estate Transactions As the latest market figures show, the market for property and Real Estate Transaction Volume in the island’s interior is growing positively. The number of transactions has nearly doubled in the last five years to 1,750 300 M the present figure of around 1,600. The volume of property sales increased even more, reaching around 300 million 1,500 250 M euros in 2018. The majority of Engel & Völkers’ customers in the region are German. Growing interest from France is 1,250 200 M also apparent. Property sales take on average six to eight 1,000 months; transactions are frequently financed via Spanish 150 M banks. Despite the positive trend, buyers in the centre of 750 the island obtain a better price-performance ratio than 100 M those in many other areas. 500 50 M There is particularly strong demand for modern fincas that combine a traditional exterior with an interior of high technical quality. Because the supply of such properties is small, buyers must decide quickly when they are offered Number of Transactions Transaction Volume Prognosis one. An increasing number of prospective purchasers are Figure 15: Real Estate Market – Mallorca Central, Ministerio de Fomentoalso looking for properties with plenty of land. EUR stinU 20142015201620172018