*} Portal Reu Buscador de propiedades de Mallorca. Club Real Estates United.

The Balearic real estate sector opens the US market

Tuesday, 12 July, 2022

The real estate sector in the Balearic Islands has opened up to the US market by landing on the islands Berkshire Hathaway HomeServices, which Nova Mallorca has acquired, so that it will become the reference real estate agency for the US, as reported yesterday by the Balearic National and International Real Estate Association (Abini).

Berkshire Hathaway HomeServices is the largest agency in the United States in transactions and has more than 1,600 offices around the world, according to an association press release.

For Hans Lenz, president of Abini, the landing of the American company on the islands is very relevant at the moment because the islands have improved their connections with the United States with direct United Airlines flights between Mallorca and New York.

"Opening the door to the North American market offers us many opportunities to continue growing," they consider from Abini and highlight that the real estate market, together with the construction market, forms the second strongest industry in the archipelago with a gross domestic product of more than 20%.

Nova Mallorca was founded in 1969 and has 25 employees and offices in the center of Palma and in Puerto Portals and its CEO will continue to be Jorge Forteza, now with Berkshire Hathaway HomeServices Spain.

"Majorca and its neighboring islands have long been a favorite investment market," says Bershire Hathaway's Christy Budnick.

The demand for buying flats exceeds for the first time that of renting

Tuesday, 12 July, 2022

In 2022, the demand to buy a home represents 50% of the market, compared to 38% looking for a rental. The remaining 12% search simultaneously in both markets. This is one of the main conclusions of the Fotocasa Research report 'Radiography of the housing market in 2021-2022' prepared by the real estate portal Fotocasa, for the fifth consecutive year, with the intention of making an...

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The 'Financial Times' puts sa Pobla on the map of Majorcan luxury estates

Wednesday, 15 June, 2022

The brainy Financial Times has just put Sa Pobla on the real estate map of Majorcan luxury estates. The world-renowned economic newspaper dedicated two pages to Mallorca in its highly-rated edition last Sunday, under the heading “Where the hills meet the sea”. No, it is not about the adaptation of the balcony to natural spaces, perfected this week on the island.

...

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REU in now Portalreu.com

Monday, 16 May, 2022

Being consistent with our great progress as a public property portal and in accordance with SEO and SEM standards, we have changed the access domain to REU.
Now it is: www.portalreu.com Much easier to remember!

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House sales soar 42% in the Balearic Islands

Thursday, 21 April, 2022

n the second month of the year, 1,416 homes changed hands in the archipelago.
In Spain, home sales and purchases increased by 24% compared to a year earlier and for the twelfth consecutive month, to 56,623 units, the highest figure for a month in almost 14 years (since April 2008).
Home sales in the Balearic Islands increased by 42% in February (1,416 homes), compared to the...

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Thursday, 21 April, 2022

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The purchase of housing by foreigners sweeps the Balearic Islands

Thursday, 21 April, 2022

Foreigners are rushing to buy homes in the Balearic Islands. According to data from the General Council of Notaries published, sales to the public from outside Spain soared 81.5 percent in the second half of 2021, making the archipelago the leading community in this respect.
Regarding average home prices, in the Balearic Islands they grew by 9.3 percent in the second half of 2021, to...

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The reference value of the Cadastre, Law 11/2021 on measures to prevent and fight against fraud

Monday, 28 February, 2022

his law came into force on July 11, 2021 but it was not applied until January 1, 2022 that the new reference value of the cadastre is applied, this being the tax base for taxes such as ITP, inheritance tax or donations.
It is no longer the real value of a property that determines the taxable base of these taxes, but its market value, which is determined from the real estate reference...

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Compensation for termination of the lease Art. 34 of the LAU.

Monday, 28 February, 2022

«BOE» no. 282, of 11/25/1994. Law 29/1994. of November 24, of Urban Leases
Entry into force:
01/01/1995
Article 34. Compensation to the tenant.
The termination due to the expiration of the conventional term of the lease of a farm in which during the last five years a commercial activity of sale to the public has been carried out, will give the lessee...

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Holiday rental licenses in the Balearic Islands.

Monday, 28 February, 2022

On Friday, February 18, the Balearic Government issued Decree Law 3/2022, of February 11, on urgent measures for the sustainability and circularity of tourism in the Balearic Islands, in which, among many measures, there is a moratorium or prohibition of new tourist accommodation places during the next four years.
In the first additional provision, the suspension of the acquisition of...

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