Europe

Record luxury property sales in Mallorca

A record number of foreign buyers snapped up luxury homes in Mallorca this year and most of them were from Germany, the UK, France, the Netherlands, Sweden, Switzerland and Austria, according to Estate Agent, Engel & Völkers.

Investors are opting for sustainable housing with contemporary architecture, Mediterranean details and a price tag of 595,000-2.8 million euros.

Serra de Tramuntana, Puerto Andratx, Son Vida and Palma Old Town are the most popular areas, but Binissalem, Biniali and Sencelles are also gaining interest.

Real estate transactions in the Balearics Islands during the first half of this year amounted to 390 million euros, compared to 190 million in the first six months of 2019 and 212 million euros in the first half of 2020.

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