According to the Spanish National Office of Statistics the sale of residential Real Estate in Mallorca was 18.4% higher in November 2015 compared to the same time in 2014 with a total of 947 transactions. This compares with the national average increase of 13.7%.

Mallorca and the wider Balearic Islands registered a total of 105 residential sales per 100,000 residents making it the second highest in Spain, only being the region of Valencia with 111 sales per 100,000 residents, a clear reflection of the current dynamism in the Mallorca market (Note here however our comments on the two tier nature of the market)

When one looks at the figures for the whole year, as opposed to month on month, the increase is even more pronounced, standing at 33.7% or 4,091 transactions.

As with previous statistics the bulk of these sales are coming from the acquisition of second hand properties, basically as a result of a significant undersupply of new build housing  in Mallorca, a key fact behind why I expect to see steady but significant price rises over the next 18 months, all other macro economic conditions remaining unchanged.

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