Lack of Supply blamed for Downturn of Balearic’s Property Market
According to the National Institute of Statistics' (INE) latest report, sales transactions in the Balearic Islands fell by 27% on an annual basis in May and by 18% in June of this year, despite growth in most other Spanish markets, where demand from foreign buyers increased. Why has there been a downturn in the Balearic market, when the Costa del Sol for example has seen a robust growth of demand? Lack of available housing stock is being blamed by industry experts. In recent years, Mallorca and the rest of the Balearics have been Spain's hottest market after Madrid and Barcelona, both in terms of sales transactions and house value increases. Balearic sales have risen steadily since reaching a plateau in 2013, after the world-wide economic crisis of 2008. Back in 2013, the Balearics counted just around 8,000 sales a year, which had increased to 15,516 by last year, one of ... več
Vir: Global Property Guideobjava: 31.08.2018