The following real estate market report 2022 shares information about the tendencies in the sale and purchase of properties, the type of properties sold, buyers and sellers’ nationalities, and selling prices.
Bonnin Sanso has detected an increased interest on behalf of our clients, for second and third homes, estates and country houses, and especially in new developments, such as Clomar II and Naclac, which were very well acclaimed by our clients. Additionally, we have also noticed a slow recovery of the British market that was affected by Brexit.
Our 5 offices in Menorca and Mallorca have concluded year 2022 with almost 400 operations, an average of 1.22 sales per day, and with a group turnover of more than 130M€. Very satisfactory indicators, with 12.3% completed transactions more than last year.
According to the group’s data, 14% of the operations were amounts of up to 100.000 euros, 56% between 100,000 euros and 300,000 euros, 16% between 300,000 and 500,000 euros, 9% between 500,000 euros and 1,000,000 euros, and the remaining 5% of deals were higher than 1,000,000 euros.
With regards to our clients’ nationalities, there was a high level of national and international interest. 62.8% of the deals were from Spanish purchasers, of which 16.2% were Menorcan residents. The remaining 37.2% distributed among 11.2% French, 9.6% from the United Kingdom, 5.3% Germans and the remainder, Italians, Swiss and others.
Similarly, the distribution of vendors’ nationalities were as follows: 76.5% Spanish, of which 16.5% were Menorcan residents, 16.2% from United Kingdom, 2% Germans and the remainder, French and others.
Many of our national and international clients consider Menorca a paradisiacal retreat, an exclusive location, with a very attractive climate to live permanently or acquire a second home. The housing preferences and buyer’s requirements have remained the same as last year; however, we would like to highlight the increased interest in purchasing newly built properties, estates and country houses on the island.
According to the data of the deals completed during 2022, we can conclude that 48% have been the purchase and sale of flats. The remaining 52% were distributed among Villas, Houses, Fincas, commercial premises and others, as can be seen in the following sectorial graphic.
Throughout 2022 we have received nearly 5.000.000 individual website visits and more than 13 visits per day to our offices.
Despite concerns over European energy supplies, inflation, rising building construction costs and interest rates, there has been no significant negative effect on the overall results, which continues to progress towards another remarkable year. A new year 2023, in which we will continue to expand our portfolio of properties for sale, in the most privileged areas and with the most exclusive properties in Menorca, to offer our clients the best property purchasing and selling service.
In conclusion, we would like to thank both purchasers and vendors for having chosen us as the Estate Agency of Reference in Menorca for yet another year and for having placed their trust in our company.
