The Centre for Real Estate Studies (CRES) led by Prof. Dr. Marco Wölfle and Julian Götting has taken a closer look at the "Mallorca vacation property market 2022" in a market study. The result is that the market supply in 2022 has decreased significantly compared to the previous year - despite numerous new builds. According to the study, 18 percent fewer vacation properties were on offer than in 2021. While around 4,550 vacation properties were on offer in 2021, the figure was only around 3,750 in 2022.
Even in the popular southwest, which traditionally has the most vacation properties, the number of properties on offer has fallen. While 29 percent of vacation properties were still on offer there in 2021, the figure was only 24 percent in 2022. In "North", "Palma" and the center, the number of vacation properties on offer also fell by 1 to 2 percent. In "South", "Southeast", "Northwest", "Northeast" and "Northeast" and "Surrounding Palma", however, the number of vacation properties on offer remained constant.
The CRES also found in the market study that luxury properties are less in demand than in the previous year. If someone is interested in a vacation property in Mallorca, they will still have to dig deep into their pockets. According to the CRES: "Although there are fewer luxury properties on the market, the island-wide price level has not fallen, but increased significantly. On average across the island by 4.5 percent, which corresponds to a price per square meter of 5,309 euros (2021: 5,080 euros)". The study commissioned by Porta Mallorquina Real Estate is available free of charge at porta-mallorquina.de.
Source and further information: porta-mallorquina.de/blog/mallorca/mallorca-real-estate-2022-market-study.pdf
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