Balearics lead the way for foreign and high price tag property sales
Official figures from the Land Registry out this month show that in 2013 the Balearics had the highest number of property sales to foreign investors in Spain, as well as the highest number of sales over half a million euros. Local expert Balearics Sotheby’s International Realty believes this proves the Islands’ resilience.
Daniel Chavarria Waschke, Managing Director of Balearics Sotheby's International Realty, with offices in Mallorca and Ibiza, explains, “In 2013, some 30.73% of house sales in the Balearics were attributed to foreigners, significantly higher than say Andalucia at 12.35% or Catalunya at 11.54%. Meanwhile, 14.34% of those sales to overseas buyers were for properties over half a million euros. This compares to just 7.43% in Andalucia and 6.57% in Catalunya. The other regions like to talk-up their markets, but the Balearics is the only one that can prove that a melting pot of nationalities has kept the property market busy and buoyant. It’s a pleasure to be conducting business here.”
British, Russian, Swiss, Scandinavian and, to a lesser extent, Germans, were the main nationalities represented in the Balearic property market in 2013. In fact 83.4% of foreign purchases came from those within the EU, with the remaining 16.52% coming from non-EU countries, with Russia in the lead. The areas of most interest are all within Mallorca, namely Port Andratx in the southwest, Deia and Port Soller in the west, Pollenca in the north and Arta and Capdepera in the east.
“Put simply, the Balearics are a wonderful place to own a home”, says Daniel, “Building regulations have been tight for years, a large chunk of the land is construction-free or UNESCO-protected such as Mallorca’s Sierra Tramuntana, Ibiza’s High Town and the Island of Formentera, and we have 26 golf courses, the most Blue Flag beaches and marinas in Spain, amazing cuisine and culture, and incredible scenery characterised by high mountain ranges and turquoise blue seas.”
“I also suspect that the new Golden Visa law which came into place last year has helped to bump up the number of sales over half a million euros, as this is the exact threshold that foreign investors must exceed in order to qualify for residency status, amongst other fairly straightforward criteria.”
In related news, the Balearics has also been named the region with the highest percentage of registered foreign residents in Spain, with 18.3% of the population as at 1 January 2014, according to the National Institute of Statistics.
On the Market in Ibiza:
Ref 6609 – Villa in San Jose, Ibiza
Accessed by remotely-operated electric gates and a white gravel drive, this state-of-the-art contemporary villa is a masterpiece. Set in beautifully landscaped lawned grounds, the home makes use of vast expanses of glass to allow abundant light inside, from the bright white open-plan designer kitchen to the marble-floored bedrooms. Outside is designed for al-fresco living with open and covered terraces, private shaded courtyards with water features and olive trees, a cactus-planted water cascade and a beautiful infinity-edge pool with countryside views. The home also benefits from a gymnasium and Spa.
12 Bedrooms, 10 Bathrooms
Built area 600m², Plot size 21,000m²
Price 4 million euros (approx 3.25 million GBP)
For more information, visit ibiza-sothebysrealty.com.
On the Market in Mallorca:
Ref 6635 – Villa in Calvia, Mallorca
Recently built to a modern specification, this countryside villa with swimming pool is set just on the outskirts of Calvia village. The tower-shape entrance hall leads directly to a spacious living / dining area and open-plan kitchen. Also at ground floor level is a study and two en-suite guest bedrooms. A spiral staircase leads to the generous 100m² master suite with dressing room, laundry room and various comfortable terraces. The basement boasts large rooms suited to a gym, home cinema or wine cellar as well as garaging for two cars. In addition, there is separate two bedroom one bathroom staff accommodation with a living room and kitchen.
Five Bedrooms, Four Bathrooms
Built area 550m², Plot size 30,000m²
Price 3.9 million euros (approx 3.18 million GBP)
For more information, visit mallorca-sothebysrealty.com.
