The Germans buy real estate on the island – not just for vacation.
(Photo: dpa)
Dusseldorf At first glance it sounds paradoxical: while tourism in classic holiday destinations such as Spain has suffered extremely from the pandemic, demand for holiday properties has exploded in the past year.
On closer inspection, however, the difference is quickly explained: “The Mediterranean climate, in which a lot is possible outdoors, is good for many, especially in times of threatening corona infections,” says Hans Lenz, who runs the business for the broker Engel & Völkers in noble southwest of Mallorca. The island is and remains the most popular destination for German buyers.
The pandemic, coupled with the options for working from home triggered by the virus and the cheap mortgage rates until recently, have caused a run on holiday properties in Spain – especially in Mallorca.
According to a survey by the Spanish real estate portal Idealista, three of the five most popular Spanish towns for German house buyers are on “Malle”.
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