 |
|
|
|
 |
|
|
| News & Articles |
 |
|
|
|
|
Although the subject of real estate values in Spain has been widely discussed on various platforms, it continues to be a hot topic. We believe this open and factual insight into our 2011 market figures confirms the health of the property market in Mallorca...
|
|
|
|
|
|
|
|
|
|
|
|
|
We introduced a new feature to our new autumn / Winter brochure, a Small square barcode called a QR-Code (Quick Response Code). |
|
|
|
|
|
|
|
|
|
|
|
|
On Friday the 21st of October First Mallorca, the leading Mallorca estate agency, celebrated the opening of their 5th and new office in Port Adriano together with the launch of their new autumn/winter brochure... |
|
|
|
|
|
|
|
|
|
|
|
|
First Mallorca will celebrate an event together with three other strong brands from the island – Port Adriano Marina, Macià Batle and Marc Fosh – and the response to our invitations does not stop... |
|
|
|
|
|
|
|
|
|
|
|
|
This is a tale about a turtle who lived in a very large pond full of cool, clear water. For many years, he was quite content swimming lazily around the large pond, or basking in the sun on top of one of the big... |
|
|
|
|
|
|
|
|
|
|
|
|
A few days ago, we took part in an event held by Banco Sabadell in the Hotel Castillo Son Vida. During this event, the President José Oliu made a clear remark, "We do not live in times of crisis any longer, we live in a new market reality"...
|
|
|
|
|
|
|
|
|
|
|
|
|
The Spanish construction industry is in a sorry state, with real estate sales stagnant - or so the news papers tell us almost daily. But there are one or two exceptions, notably on Mallorca... |
|
|
|
|
|
|
|
|
|
|
|
|
Mallorca offers a great selection of international schools totalling 10. Amongst them there are British, French, Swedish and German schools, teaching in their native language but incorporating Spanish and in most cases additional languages... |
|
|
|
|
|
|
|
|
|
|
|
|
It may not look like it, but…
we open in September! First Mallorca clearly on an expansion course has recently promoted Alex Schmitz to the office manager of their 5th office on the island. |
|
|
|
|
|
|
|
|
|
|
|
|
After our last market report a friend and client commented to us, "Your report appears like a summary made for the share holders of a multi-national company. Why do you feel the need for this?" ... |
|
|
|
|
|
|
|
|
| |
|
|
|
The First Mallorca Annual Market Report -
2011
Although the subject of real estate values in Spain has been widely discussed on various platforms, it continues to be a hot topic. We believe this open and factual insight into our 2011 market figures confirms the health of the property market in Mallorca.
Our statistics show slightly reduced results on completed sales in 2011 when compared with 2010. However, early 2012 finalised transactions and newly agreed offers this January account for yet another very active start to the new year. The Spanish Government has announced it will maintain the incentive for purchasers of new properties: VAT applicable on those purchases has been reduced by half to 4%.
As in very recent years the average property purchase price hovers between 900,000€ and 1m€
German nationals outnumber other nationalities in property purchases and long term rentals. Spanish citizens and local Spanish developers are on top of the list of vendors once again during 2011. The average negotiation margin on property was 13.62 % during 2011 versus 11.75 % in 2010.
Comparing sales with the previous year we are positively surprised that the variety of nationalities purchasing widens and niche markets including Sweden, Denmark, Russia, Switzerland and Austria expand their interests. There is a considerable focus on new properties and locations which are convenient or of special beauty. We face a shortage of new properties for the near future, especially apartments. Since 2009 promoters and constructors turned very cautious, aware of the reluctance of banks to finance new projects. We now note a new willingness of financial entities, promoters and local authorities towards new investment opportunities.
Our interpretation of the signs for the 2012 market performance is simple: strong demand from serious buyers for a good product. The limited availability of new properties will further strengthen prices in this quality sector during the next 24 months. Insecurity over one's wealth in paper investments will continue to drive investors into solid assets, such as found in top ranked second home destinations like Mallorca. In that respect and being in the right place, we enjoy the privilege of offering over 1,700 properties on the island for sale and rent presented on Mallorca's premier property website: www.firstmallorca.com.
Rental transactions have increased by just over 20 % during 2011. This is a very positive indicator of new clients deciding to experience the lifestyle and wealth of amenities on this island. We invite you to visit our facebook page and enjoy our continuous update on the diversified activities of interest in Mallorca.
PROPERTY SALES
Value of Property Transactions: 91,465,000 €
Number of Sales: 100
Average Property Price: 915,000 €
NATIONALITIES OF PURCHASERS
25 % German
20 % British
16 % Swedish
11 % Spanish
7 % Swiss
5 % Danish
3 % Belgium
3 % Austrian
2 % Slovakian
8 % Dutch, Italian, Finnish, West Africa, Czech, Lithuanian, Russian
NATIONALITIES OF VENDORS
43 % Spanish
29 % British
21 % German
3 % Danish
4 % Italian, Portuguese, French, Czech
LONG TERM RENTAL CONTRACTS
Number of contracts: 122
Most attractive rent: 750 € per month
Highest rent: 10,000 € per month
NATIONALITIES OF RENTERS
49 % German
18 % British
7 % Swiss
4 % Spanish
4 % Swedish
4 % Austrian
2 % Irish
2 % Russian
2 % Italian
9 % Slovakian, Danish, Canadian, Polish, Serbian, Greek
Wishing you good fortune in your business during the Year of the Dragon,-
yours sincerely,
 
Robert Maunder, Heidi Stadler & Team
|
|
|
Other languages