Mallorca on the rise

Apr 7

The number of visitors is reaching an all-time high and the real estate market is unfazed by the global challenges. In contrast to the German real estate market, where there have been repeated reports of significant price declines in recent months, the price level on the island remains more than stable.

In Mallorca, the average price per square meter for holiday properties reached around 5,800 euros in January 2024, which corresponds to an increase of 1.7 percent compared to the previous year and shows a remarkable positive development compared to the German real estate market. The luxury segment in particular is driving prices up by 13 percent. For first-class sea view locations, you may have to pay up to 18.8 percent more. The South West remains the most expensive region, followed by the increasingly popular Palma City. Despite rising prices, the supply of properties continues to decline, especially in the luxury segment, where the market is almost sold out. Experts see no end to the price increases in sight.

Overview Mallorca Real Estate Market 2024

Summary of facts:

Luxury real estate rose in price by 13 percent in 2023
For the first time, the average price for luxury properties is over 10,000 euros per square meter
Supply is decreasing, especially for basic and luxury properties
Since 2015, real estate prices have risen by up to 78 percent
There is no end in sight to the price increase