One out of three homes sold in the Balearic Islands in the second quarter was acquired by a foreign buyer
The Islands register the second highest housing price in the State, with 4,311 euros per square meter, while Palma exceeds 4,200 euros
Palma32.2% of homes sold in the Balearic Islands during the second quarter of the year were acquired by foreign buyers, the highest percentage in the entire State. This is according to the Real Estate Registry Statistics published this Tuesday by the College of Registrars, which places the Archipelago as the community with the greatest weight of international demand in the residential market.
Specifically, more than three out of every ten purchase and sale transactions registered between April and June had a buyer of foreign nationality. This percentage far exceeds the state average, where foreign demand accounted for 15.98% of total transactions, with more than 26,800 purchases and sales.
The report also confirms the high price level of the Balearic real estate market. The Islands are the second autonomous community with the highest average housing price in Spain, with 4,311 euros per square meter, only behind the community of Madrid, with 4,477 euros per square meter.
Palma also remains among the provincial capitals with the highest prices in the country. The Balearic capital registers an average value of 4,291 euros per square meter, surpassed only by San Sebastián (6,420 euros), Madrid (5,534 euros) and Barcelona (5,045 euros).
Foreign purchases reach a historic high in Spain
In the State as a whole, housing sales fell by 5.7% during the second quarter compared to the first three months of the year, reaching 167,934 transactions. This figure marks two consecutive quarters of decline.
Despite this general drop, the weight of foreign buyers reached a historic high, both in percentage and in absolute number of transactions. British citizens led foreign acquisitions, with 6.99% of the total, followed by the Dutch (6.94%) and the Germans (6.11%).
In the Balearic Islands, the prominence of international demand continues to be one of the factors shaping the evolution of the real estate market, in a context of high prices and increasingly strained residential supply.
