The sale of homes in the Balearic Islands returns to the figures prior to the 2008 crisis

Friday, 28 January, 2022

The Balearic property market is undergoing a revolution in many ways. While only 1% of rental homes in Palma fall below 600 euros, the sale of homes registered its best month of November since 2007, with figures close to the years prior to the global crisis. In the eleventh month of 2021, the Islands recorded 1,496 operations to buy and sell homes. Compared to the same month a year ago, registrations have shot up 70.8 percent. According to the latest data from the National Institute of Statistics (INE), the Islands also lead the percentage growth in Spain, since the average increase in the country was 34.7%. That is, half of what is documented in the Balearic Islands.

If we take into account the total number of properties transferred, 5,339 were registered in the entire month of November. The last time such data was recorded was in November 2007, the year before the start of the global crisis, in which there were 5,349. In 2008, just one year later, the number dropped dramatically to 3,803. Although the lowest data of the decade was slow in coming: in 2014 it reached 3,060 transmissions.

As for the annual variation of transmission of farms, the Balearic Islands is the second community with a higher percentage (26%), only behind Cantabria (33.8%). The third is Andalusia, with 23.3%.

The months of September, October and November are usually crucial for both clients and companies because, after spending the entire summer evaluating homes, purchases tend to be “more thoughtful and less impulsive”.

The communities that present the greatest annual increases in the number of home sales in November are, therefore, Balears (70.8%), La Rioja (56.4%) and Cantabria (49.9%). As can be seen, the difference with respect to the second is more than 14 percentage points. The national average stands at 24.4%. Thus, 20.7% of the houses transmitted by sale in November are new and 79.3 percent are used.

Why is a property better sold with a VIRTUAL TOUR?

Friday, 05 November, 2021

On many occasions we have to sell a property that is inhabited and every time we have a client, they want to see the house to position themselves and see if it can fit their needs.
This action causes two situations:
The most cumbersome is for the inhabitants of the house, since they have to show their tidy house to each client that comes with the real estate agency. If the...

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Why are houses in Mallorca so expensive?

Thursday, 14 October, 2021

The builders point out three factors mainly

Access to housing is one of the main problems that the citizens of Mallorca have. Faced with this situation, many people wonder why homes on the Island are so expensive, compared to those sold on the Peninsula.
The manager of the Balearic Builders Association, Sandra Verger, explains that the...

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REU receives the award for portal of the year in Spain

Wednesday, 13 October, 2021

REU has been nominated in the Real Estate Portal of the Year category in Spain (Balearic Islands). We have been chosen as the winners of 2021/22. This recognition is an honor and a reward for the efforts made throughout the pandemic to improve the services we offer to our partners and customers.

During the awards process, more than 100,000 companies and corporate...

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What is the Okupa movement and how can we protect ourselves?

Friday, 08 October, 2021

Okupa is a movement that began in the 70's that seek the opportunity to forcibly and illegally invade an abandoned apartment, chalet or building. In Europe this type of people is very common, more than everything in Spain due to the difficult situation of acquiring a private...

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Real Estate Meeting

Thursday, 30 September, 2021

At the meeting on September 30, we will have the presence of the REU programmers, to present the latest updates and the advantages of publishing all the properties, also publicly, to users who may be interested in buying or rental.

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Legacy homes can be sold now without waiting for unforeseen heirs

Tuesday, 28 September, 2021

With the pandemic and the death of many elderly people, the real estate sector has received a significant injection of housing stock for sale and rent. With the legal change on Friday, inherited home purchases that in the past required a warning from notaries to buyers, are no longer valid. Until now, many of these operations could be blocked or be susceptible to mistrust, due to the risk...

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The sale of homes rises 53.5% in July and marks its maximum in 13 years

Tuesday, 28 September, 2021

The statistic chains five consecutive months of positive rates | The sale of used apartments increased 56.9%

The sale of homes soared 53.5% last July in relation to the same month of 2020, to add 50,258 operations, its highest figure since April 2008, when more than 54,000 transactions were carried out, as reported this Wednesday the...

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