In January 2021, 737 homes were sold
This is compared to 995 in 2020.
799 properties were sold in February 2021
This is compared to 969 in 2020.
727 properties were sold in March 2021
This is compared to 756 in 2020.
Proinba Tolo Mayol (Vice President of Association of Real Estate Developers) says that there are Three reasons why sales are falling; The rise in house prices; restricted movement of foreigners due the Covid restrictions.
“Local buyers were Excluded from the housing market He said that the reason is because of the rising property prices which are at or near pre-pandemic levels.
Luis A. Cabezas, Real Estate Agent, agrees that the reason sales are slowing down is because of property prices in Balearic Islands.
“There were many opportunities during the crisis but now there are no.”Prices have risen by 5%-15%.
Mayol points out the fact that there areVery few homes are below 280,000 euros Balearic Islands, most people can’t afford more than 250,000 euro. Because the land is too expensive, he claims that reclassifying it for development is the answer.
Mayol, who acknowledged that it was difficult to purchase homes below 400,000 euros at the moment, said “The current prices make buying homes very difficult.”It is very difficult to give loans When so many people are in ERTE.
