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The purchase of properties in the Balearic Islands increases during June

The dates in which we find, we can make a balance in the evolution of real estate market during the first half of the year at the state and local level.

Data analyzed and published by the National Statistics Institute (INE) show that Balearics continues to consolidate the improvement of the <b>property market</b> during the month of June and has become the autonomous region where more has increased the sale of homes, 36,2 percent over the same month of last year with a total of 1,227 operations. Thus, purchase operations of homes continue on the path of positive in the Balearic Islands in the sixth month of the year. The number of housing sales in June in the Balearic Islands stands at 100 per 100,000 inhabitants, over the national average, which is 83 transmissions.

Similarly, it’s the community with a greater number of transmissions per 100,000 inhabitants with 136, according to the “Statistics on Transfer of Property Rights” concerning June released by the National Statistics Institute (INE).

Of transmitted housing, 1,227 have been for sale, 54 by donation, inheritance 324 and 378 for other items. Most homes were free (1.201), although 26 of them were protected. In addition 252 were new homes and 975 were used. The total transmitted estates registered in the records in June has been Balearics 4,498 in June, 20.2 percent more than the same month of 2015, a parameter in which the islands are also the community with more increase operations. Of the total transmitted estates, 918 have been rustic and urban the rest.

On the state level, taking into account the evolution of the entire first half of the year, growth in property sales is 16.4% over the period from January to June 2015. The pace has accelerated a lot and has already sold nearly 60,000 more homes than in the worst moment of the sector in the second quarter of 2013. The sector analysis presume that the year will end with positive growth and used property will continue pulling the sector. With interest rates so low, banks offer minimum returns on deposits and brick recovers attractive investment as also the negative Euribor interest mortgages are also reduced. Looking ahead to 2017, banks said they will keep upward sales.

We are Mallorca Property specialists working in partnership with the most established and reliable Mallorca estate agents covering the whole island. At Balearic Properties, we dispose of a unique and versatile selection of property for sale: luxury villas, seafront properties, apartments, contemporary penthouses, fincas or country houses, village and town houses, building plots, townhouses and apartments in new developments near the sea or golf courses.

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