86% of the homes on sale in the Balearic Islands are in the hands of real estate agents (APIs). The figure makes the archipelago one of the most professionalised markets in Spain, ranking it as the sixth province with the most residential product in the hands of APIs, according to a report by Brainsre.
The percentage drops to 81% in the case of the rental market, although it is still high compared to the national average. However, “both the sale and rental markets on the islands are highly fragmented with no clear regional leaders,” explains Antonio Ramudo, data scientist at Brainsre and author of the report.
Ibiza is the island with the least professionalised sales market, while Menorca is the island with the sales market with the least product in the hands of private individuals. However, Menorca is also the island with the least professionalised rental market.
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