WE have some interesting real estate sales statistics out for 2019 in the Balearics.
According to the National Statistics Office the sale of homes in the Balearics fell last year by 10.9% to 13,951; 18% of these were new builds (2,562).
This was one of the largest decreases in the country compared to the national drop in sales of 3.3% in 2019.
December sales were down 2.6% (representing 1,005 homes) compared with 2018.
Representing the first decrease since 2014, this compares to falls when the financial crisis started to hit 28.8% and 25.1% in 2008 and 2009 respectively.
This decline in sales in the Balearic property market is being attributed to there being fewer resale homes on the market, as well as high pricing.
In comparison new homes sales increased by 1.2% to 92,844.
The decrease in the Balearics was only surpassed by the Canaries with -14%.
Across Spain in general, sales in December were up 1.8% to 34,767.
In contrast, interesting figures to compare are the price of housing in the Balearic Islands which experienced a 5.5% year-on-year growth up to €2264 / m².
Since the maximum values reached in 2007, the value of apartments in the region has depreciated by 17%.
The price in the fourth quarter of 2019 is 5.5%, a figure higher than that registered in the same period for the previous year.