Buying a property as a primary residence: that's life & work in Mallorca

Anyone who plays with the idea of ​​making the sunny island of Mallorca the center of life faces a variety of challenges. Where can you find potential employers or employees, what is the economic stability of the Balearic Island and where is the best social infrastructure? But the private and professional decisions stand and fall with the choice of the right property and the ideal place to live, which must allow the balancing act between job and leisure in Mallorca. Our team of around 150 real estate agents from Engel & Völkers Mallorca acts to ensure that you receive competent advice in all real estate matters for the rapid and targeted implementation of your purchase requests. Whether a magnificent villa in the first sea line, a traditional country house with a spacious plot, a beautiful villa with exclusive equipment details or a modern apartment in a central location: our real estate agents will put your individual purchase project on Mallorca into practice at fair conditions.

In the following article, our real estate experts have provided you with information that will give you a comprehensive insight into the economic situation of Mallorca in combination with the current market situation for high-quality Engel & Völkers real estate that is ready for purchase. For more details, visit us in one of our 18 real estate shops, which are spread across our 9 sales areas from the north of Mallorca to the outskirts of Palma.

From tourism to technology park: Mallorca offers a wide range of employment opportunities and provides economic impetus

The hotel industry is the main driver of the Balearic economy with over 460 four and five star hotels. In the summer months of July and August Mallorca is traditionally one of the most popular travel destinations for many Europeans. Accordingly, the tourism industry in Mallorca provides a large part of the jobs as the need for workers is above average during the boom of hotels, restaurants and leisure service providers.

Apart from the tourism industry, another mainstay has been established in the north of the Mallorcan capital, not far from the real estate location Esporles, with the development of the "Parc Bit" technology park (Parc balear d'innovació tecnològica). With around 140 companies and around 2,500 employees in the areas of IT, research, education and gastronomy with local schools and cafeterias, the Balearic economy is also to be strengthened in other areas and become a potential employer for an international clientele. The majority of the workforce consists of young islanders, who prefer Palma City as their property location. Here the property selection ranges from stylish apartments to modern penthouses.

With Engel & Völkers Mallorca real estate agents, you can handle your purchase project smoothly

The real estate sector is the second most important sector in Mallorca after the tourism industry. The balanced real estate market, the expansion of public infrastructure and the overall economic and political stability ensure positive future forecasts. The current health policy situation does not change the fact that Mallorca will continue to be one of the most sought-after locations for first and second homes in the Mediterranean - a constant high price level and numerous discussions between search customers and our real estate agents underline this trend. The stable climatic conditions and the diverse landscape continue to be convincing arguments for the purchase of a villa, country house , house or apartment in Mallorca.

For the center of the Balearic Islands, according to our experienced real estate agents, stable price levels can be expected, which specifically refer to premium-class villas in the first sea or coastline, preferably in the south, and to apartments with a sea and mountain panorama in the west of the Balearic Island. Further information on price levels and market developments can be found in our Engel & Völkers Market Report Mallorca 2019/2020, our extensive portfolio or a personal discussion with your personal real estate agent.