The island government wants to counteract the current real estate speculation.
(Photo: action press)
Madrid The pool glitters blue in the photo of the advertisement. The 127 square meter house in a gated community, which is currently for sale, also offers air conditioning and marble floors. But it has its price: the offer is 980,000 euros. There are no bargains or even price reductions on the popular Mediterranean island.
“The market in Mallorca is decoupling from the German market,” says Hans Lenz, who manages the business in the south-west of the island for the broker Engel & Völkers. “While demand in Germany is falling, it remains stable on Mallorca.” Realtors in Mallorca called around 5,700 euros per square meter last year – 10.9 percent more than in the previous year. In 2021, their prices had increased by 4.5 percent.
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