2013-02-14 09:03:59 -
Costa d'en Blanes (pts007/14.02.2013/09:00) - German interest in the property on Mallorca doubled last year as buyers rushed to take advantage of the many great price opportunities and the vacuum caused by the virtual disappearance of Spanish buyers, according to the First Mallorca end-of-year report.
The eagerly awaited 2012 report published by real estate agent First Mallorca offers the only comprehensive analysis of the local market based on data from their team working in five offices with over 40 multilingual staff members handling sales, long term rentals, administration, finances, marketing, IT and after sales service.
offering transparency for buyers and sellers and as a service for anyone interested in the local market, the report revealed 16 per cent more sales in 2012, with the most expensive property costing 5.6 million Eur and the lowest still bring in in 80,000 Eur. The report concluded Mallorca remains a "vibrant and demanding market".
Unveiling the figures the agency added that they remained "committed to make 2013 yet another successful year, client satisfaction being a priority and a harmonious balance between professionalism and a human approach".
Not only did 2012 produce 16% more sales over 2011, but there was also an average price fall, past market reports show the average selling price descending from 1.1 m Eur in 2009 to 810.000 Eur in 2012.
German purchasers nearly doubled in 2012 while in contrast Spanish buyers almost vanished from statistics. The negotiation margin is perhaps surprisingly stable at 10.87%, if at all slightly lower than the previous year, which, even in a buyers' market indicates properties offered within a competitive and justified price will sell. The agency also lived exceptions that confirm the rules. A new frontline property in the area of Puerto de Andratx sold this autumn for a sqm price of approximately 23.500 Eur. But it was an extraordinary and exquisite masterpiece with love for detail - a genuine proof of providing the best possible product. Whilst the apartment market is experiencing a healthy demand First Mallorca are also noticing a stronger interest by investors for exceptional 'fincas' properties with extensive land, enjoying the same attention are attractive building plots with uncompromised privacy and "a world on its own". The rental market is strong and also showing German clients heading rental contracts by over 50 %, the contracts are mostly with Spanish owned properties, the British coming a close second.
First Mallorca predicts 2013 will show that the confidence of local and international promoters is back, off-plan purchases for new apartment developments are becoming available in prime spots. It will keep updates coming as soon as first releases are published.
They added: "Within these fascinating extremes of the property market and the multiple nationalities of our customer base and staff members, we appreciate we are blessed with one of the best professions on this exceptional island that never stops surprising us!"
MARKET REPORT 1st of January to 31st of December 2012
- Total number of Sales 116
- Turn-over of Sales 94.004.240 Eur
- Highest sale 5.600.000 Eur
- Lowest sale 80.000 Eur
- Negotiation margin 10.87 %
- Average property price 810.381 Eur
Nationality of Purchasers
- German 45.68 %
- British 24.13 %
- Swedish 12.93 %
- Austrian 4.31 %
- Russian 4.31 %
- Danish 4.31 %
- Spanish, Swiss, Slovenian, Norwegian & Italian 4.33 %
Nationality of Vendors
- Spanish 37.06 %
- British 26.72 %
- German 25.86 %
- Swedish 3.44 %
- Irish 1.72 %
- Danish 1.72 %
- Swiss, Finnish, Dutch & Luxembourgian 3.48 %
- Highest rent per month 10.000 Eur
- Lowest rent per month 600 Eur
- Amount of rental contracts 101
- Average property rent 2.800 Eur
Nationality of Tenants
- German 50.49 %
- British 13.86 %
- Swiss 6.93 %
- Spanish 5.94 %
- Austrian 3.96 %
- Dutch 3.69 %
- Swedish 1.98 %
- French 1.98 %
- Bulgarian 1.98 %
- Russian 1.98 %
- Latvian, Danish, American, Ukrainian 6.94 %
Nationality of Property Owners
- Spanish 53.64 %
- British 34.65 %
- German 15.84 %
- Swedish 1.98 %
- French, Swiss, American, Italian, Russian, Norwegian 11.89 %
emitter: First Mallorca S.L.
contact person: Heidi Stadler
[ source: http://www.pressetext.com/news/20130214007 ]