Mallorcas economic upswing

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Mallorcas economic upswing

Posted by Sandra on 11.09.2015

Mallorca’s economy is booming, not least due to the well-thriving tourism industry, who neatly flush money into the coffers. A statistic by AENA (Aeropuertos españoles y Navegación Aérea) indicates that only in the first three months of the year the number of visitors increased by approximately 495,000, which means an increase of more than seven percent compared to the previous year. The Balearic Islands are with an economic growth of 2.4 percent for the year 2015, about the calculated nationwide average of 2.1 percent throughout Spain.

Mallorcas demand in real estate increases again

This affect of course also very positively the real estate industry. So the value of the real estate on Mallorca and the rest of the Balearic Islands, which were sold to clients from foreign countries in 2014, was 976 million euros. This emerged from information of the Spanish Ministry of internal development (Ministerio de Fomento). Consequently the transaction volume on the Balearic Islands has almost doubled in the last five years, because in 2009 it was 494 million euros. The forecast for the year 2015 is a total turnover of over a billion euros. The demand for properties in Mallorca is still increasing, which also shows that the real estate market on the Balearic Islands has been fully recovered. If you also want to invest in a Mallorca property, we are looking forward to your inquiry!

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