Property boom in the Balearics

LAST UPDATED: 23 Jul, 2014 @ 13:22
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Property boom in the Balearics

SPAIN’S Balearic Islands have seen a boom in their luxury property market with sales numbers exploding since 2013.

Party island Ibiza is leading the charge with it’s celebrity guests and media coverage, according to Glynn Evans, managing director of Ibiza Sotheby’s International Realty.

Evans said: “There have already been in excess of 25 transactions for villas priced over €2 million,” and UK citizens are the biggest investors in this market.

Mallorca and the other Balearics seem to fairing just as well, to the delight of Evans’ colleague Daniel Chavarria Waschkeat at Sotheby’s Mallorca firm.

The Balearic Islands have a history of success in Spain. Last year, the ocean hotspots saw the largest investment from foreign investors, ahead of Andalucia’s Costas and Catalunya.

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