The Balearic Islands lead the luxury housing sector


The Balearic Islands lead the luxury housing sector in the international market. CREDIT: Shutterstock

One in three searches by foreign buyers for luxury property in Spain is focused on the Balearic Islands.

Every third search for luxury properties in Spain by foreign buyers focuses on the Balearic Islands, the area that represents the most pronounced and successful revitalization of a real estate sector with an economic value of more than one million euros.

According to a study published by Idealista, customers of German, British and French nationality are those who show the greatest interest in buying luxury properties in all Spanish municipalities, with the Balearic Islands leading by far in this statistic.

The German market accounts for 18 percent of searches for luxury properties, followed by the British with 11 percent, the French with 10 percent, the Americans with 9 percent and the Dutch with 7 percent.

The rise of the luxury housing sector was created by foreigners with high purchasing power. It is mainly focused on 10 provinces that accumulate no less than 93 percent of visits to real estate worth more than one million euros

The Balearic Islands in particular account for almost 30 percent of searches (exactly 29 percent), which underlines the interest of German customers in luxury properties on the islands, which make up 36 percent of total visits, the British with 11 percent, the French and the Dutch with 8 each Percent and the Swedes with 5 percent.

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