We had the pleasure of attending the Engel & Völkers press breakfast where the German real estate agency launched the new ‘Market Report Mallorca 2017/2018’.
It was held at the beautiful Cas Català villa, and the press briefing was presented by Florian Hofer, Managing Director of Engel & Völkers in the Balearic Islands, and Hans Lenz, Managing Director of Engel & Völkers Mallorca Southwest.
The company gave an intensive overview revealing a significant growing demand for luxury properties in Mallorca, and in Palma in particular. The verdict? Property in Mallorca has shifted from a buyer’s market to a seller’s market, good news for homeowners, here!
An updated report by Engel & Völkers released in August 2018 also points to this trend continuing, with a significant increase in average sales price of property sold by the real estate giant from 1.2 to 1.4 million euros. This is largely thanks to limited stock of premium properties meeting a very strong demand. They also posted their second best half-year results with a total sales transaction volume of 278 million euros for the Balearics.
“This clearly demonstrates that the Balearics continue to attract financially-strong investors. In addition, we are very proud to have had the largest sale ever in the history of Engel & Völkers in the Balearics”, says Florian Hofer, Managing Director of Engel & Völkers Balearic Islands.