A report on the luxury housing market in Spain, commissioned by the insurance company Hiscox, indicates that 33% of all luxury homes in the country are in the Balearics. Defined as properties valued at three million euros or more, the Balearics - treated as a province - are second only to Malaga and by just one percentage point.
The report observes that Spain is the fourth most attractive country in the world for investing in luxury homes behind the US, the UK and Australia.
For buyers, Spain is "a safe investment and an ideal destination to establish a second residence", especially for foreigners from countries such as the UK, Germany, France and China.
The luxury sector, according to the report, accounts for around five per cent of Spain's total residential market.
The findings from the Hiscox report This showed that 32.1% of properties on the market at three million euros or more were in the Balearics.
Around a third of all purchases per annum are by foreigners.
While these are not by any means all in the luxury segment, the demand - and this is admitted by the real-estate sector - does act to push up prices of homes in general.
Another driver is the so-called Golden Visa.
This was introduced by the Spanish government in 2013 to promote foreign investment and grants residence status to foreign buyers whose investment is 500,000 euros or more.
if you would like to invest in a villa, penthouse or luxury villa for long-term rent in Mallorca, or looking for a Residence status, the easiest way to contact us is via Manuela Olmesdahl's mobile phone, +41 76 376 61 11 or via e-mail: office@manuelaolmesdahl.com.
Manuela Olmesdahl offers a wide range of highly qualified services to assist you in the purchase of your new home.
Some our exclusive offers
Villa in Port d'Andratx, 8 Bedrooms, Living area 800 m2, Asking price 7.8 Mio Euro
Villa in Son Vida, 6 Bedrooms, Living area 600 m2, Asking price 10.9 Mio Euro
Finca in Es Capdella, 10 Bedrooms, Livin area 900 m2, Asking price 11 Mio Euro
My primary goal is to arrange investments that offer the security and opportunity for a sustainable return in your portfolio.
direct contact: Manuela Olmesdahl
Phone : +41 76 376 61 11
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