The luxury real estate agency Engel & Völkers has confirmed that the average price of the sales made by the real estate agency in Mallorca in 2020 remained stable at 1.5 million euros, compared to 1.47 million euros in 2019. In fact, it highlights that the average prices actually rose in Ibiza and Menorca to reach 1.3 million euros and 1.1 million euros, respectively, from 1.1 million euros and 900,000 euros in 2019.
“The interest shown by foreign clients meant that transactions worth 460 million euros were closed in 2020,” said Florian Hofer, General Manager of Engel & Völkers Baleares. The slight decrease in transaction volume compared to the 517 million euros recorded in 2019 is mainly due to the travel restrictions imposed during the spring and winter lockdown periods.
Read the full article in Spanish.