The prices of vacation homes in Mallorca have exploded

The prices of vacation homes in Mallorca have exploded

A study by the German Center for Real Estate Studies Steinbeis-Transfer-Institut, commissioned by the Porta Mallorquina agency, analyzed more than 4,600 properties for sale in Mallorca that have the profile of a second home.

This revealed that the average price of these properties in 2022 was 5,696 euros per square meter.
That was eleven percent more than in 2021 and 52 percent more than in 2015.

Being an average, there are significant variations depending on the region of Mallorca.

The highest was in Andratx and Calvia – 7,733 euros; prices increased by about 30%.

The director of the study, Marco Wölfle, says that “the market for vacation properties in Mallorca is extremely strong”. “Prices depend a lot on sea views and pools, which explains, among other things, why the cheapest houses are in the center of the island (3,668 euros).”

Price increases are expected to continue over the next few years, according to the report, but not to the same degree. Fewer developments are expected, with Timo Weibel of Porta Mallorquina observing that these will be in the “superior and luxury” category.

Germany is the largest market for these vacation homes, with the study also noting that there is interest in properties licensed for vacation rentals. Up to thirteen percent more is paid for these than for others.