The average cost of housing in the south-west of Mallorca since the beginning of this year has increased noticeably. So, the average price of objects in this area is now about ˆ 2.11 million, while a year ago this figure was at the level of ˆ 1.68 million, reports Noticia.ru portal referring to the data of the real estate company Engel & Vlkers .
The apartments of the new building have risen in price to the greatest extent. "In comparison with last year, prices in the southwest of the island increased by 25%," says Hans Lenz, managing director of the local branch of Engel & Vlkers.
The most popular destinations among buyers were the neighborhood port of the municipality of Andraitch, Santa Ponsa, Bendinat and Portals. Potential customers intend to invest more than ˆ 8 million in their future property in Mallorca. German, Swiss and British buyers, as well as some clients from the Middle East, are interested in an exclusive housing with ocean views that will provide them with privacy.
"We are also seeing an increase in demand for objects worth more than 20 million euros, including among representatives of new markets for us, for example, the US and Scandinavia," Lenz said.
Customers are often interested in having a wine cellar, a home cinema, a gym and a spa. The area of objects they acquire is mainly more than 1000 square meters. M.
According to experts Engel & Vlkers, prices in the residential real estate market in the south-west of Mallorca will continue to grow.
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