The end of year review confirms the positive movement we felt throughout the year having professionally intervened in over 500 transactions, in both sales and rentals. These figures in addition to the more than three thousand enquiries received show a clear recovery in economic activity, and we are proud to have been part of this, making peoples dream of living in Menorca come true.
- By nationality of purchaser
Fifty percent of transactions have been Spanish purchasers, and the other fifty percent spread widely amongst foreign buyers. A special mention should be made of the British market, always loyal and committed to Menorca. Despite an initial post-Brexit shock, the market soon bounced back to normal levels.
It is also worth pointing out the blooming French market. Practically insignificant a couple of years ago, our French clients now represent a large percentage of transactions, both in terms of number of sales and amount invested. Bienvenues! The remaining share of clients are of varied nationalities, Italians, Germans and the newly emerging markets from central Europe and Nordic countries. The message of the quality of life in the pearl of the Mediterranean reaches further afield every day.
The end of year review confirms the positive movement we felt throughout the year having professionally intervened in over 500 transactions, in both sales and rentals. These figures in addition to the more than three thousand enquiries received show a clear recovery in economic activity, and we are proud to have been part of this, making peoples dream of living in Menorca come true.
- According to the sale quantity and type
- Rental – an increasing market
Another factor that shows we have entered a new cycle has been the strong demand increase for rented homes in which the available stock has become nearly exhausted, a situation that we have not experienced for quite some time. The number of requests received and attended have multiplied fivefold. This demand has also made the average price of new rentals rise in nearly all of Menorca.
Why has the property marked recovered?
After seven years of very difficult times, confidence and stability have returned to the property market. What has happened?
We believe this positive change is due to a combination of the following factors:
- Realistic adjustment of properties price by the vendors.
- The increase in finance facilities.
- An increase in employment and of the minimum wage.
- The interest of foreign markets to invest in a safe country.
