Engel & Völkers Market Report 2022/23 – analyses, trends and forecasts, the real estate market Mallorca North

The north of Mallorca, with its diverse and stunning mixture of beach and mountains, historical villages, unrushed lifestyle and a modern-day infrastructure, is among the most popular locations for buying property in Europe, particularly holiday homes. If you are interested in buying a country or town house, villa or flat in the north of the island, Engel & Volkers real estate agents invite you read their Market Report 2022/23 and get the latest news, developments and trends in the local property market.

Real estate in the north of Mallorca: The following places are of particular interest to buyers

When buying a house in the north of Mallorca, there are many elements to be considered: - what type of property, old, new, modern, classical, finca, villa or apartment, etc., and you also need to choose the location.  There are so many beautiful places and each has its own uniqueness.  Particularly popular with clients’ house hunting with Engel & Völkers Mallorca North are the towns of Pollensa and the Port of Pollensa, and more and more the charms of the nearby villages of Campanet, Búger and Muro are being discovered.  Get started with this fabulous seafront flat in Puerto Pollensa! The exclusive residential areas Alcanada and Bonaire in the borough of Alcudia are also of great interest for those looking for something more modern, minimalist or brand new and near the sea. Alcúdia and its Port are both fantastic options for a owning a second home, Alcudia old town is a sheer delight tucked behind an ancient city wall and the Port is home to an incredible beach and outstanding marine services and there are also direct ferry connections to mainland of Spain, Menorca and France. Fall in love with villas like this in Puerto Alcúdia. Like many of the flats and villas marketed by Engel & Völkers Mallorca North, this house has a rental licence and is perfectly suited to earning great returns from holiday rentals.

If you are already interested in buying a property in the beautiful north of the island, feel free to contact our experienced real estate agents for the best advice!

Buying a finca or villa in the north of the island - these are the latest trends observed by the real estate agents Engel & Völkers

High construction quality, plenty of privacy and attractive, modern furnishings - buyers are paying more attention to these particular criteria when purchasing new properties in the north of Mallorca according to Engel & Völkers. There is also an increased demand, particularly by our German, British and Spanish buyers in 2022, for large plots of land, people want plenty of outdoor space with gardens or terraces. US and Central European customers are also noticeably more active in the market. The decline in the number of new-build homes on the island has had an additional effect on demand, effectively shortening the amount of time a property is on the market before being sold, which now takes on average only 3 to 6 months. When buying a villa or finca in the north of the beautiful Balearic Island, only 20 percent of the buyers use a mortgage; the majority buy their property without any need of financing. However, due to the wide range of prices on the island, it makes sense to inform yourself about the current price development before buying a flat, a finca or a villa in the north of Mallorca - the real estate agents Engel & Völkers present all relevant facts in their latest market report.

What is happening to property prices in the north of Mallorca – check out our market report for the latest information

The spectacular headland of Formentor is considered an absolute prime location for buying property in the north. Here, due to rarely any supply, buyers can expect prices of around 8.5 million euros - an increase of 2 million euros on 2022 prices. The idyllic village of Pollensa also remains a sought-after location for high-quality villas and country homes, with prices between 2.5 and 3.8 million euros. In the coastal resorts of Alcúdia, Puerto Alcúdia and Puerto Pollensa, houses for sale have a price tag of between 2 and 2.7 million euros. The pretty, rural areas towards the centre of the island are becoming more attractive with a fair price-performance ratio between 1.1 and 1.5 million euros. Prices for flats in the region have remained largely unchanged from the previous year: even in popular locations such as Alcúdia and Pollensa, the asking prices have remained between 350,000 and 400,000 euros. In other areas the average price for an apartment remained stable at around 300,000 euros.

Whether you decide to buy a flat, townhouse, a villa or country house in the north of Mallorca - buying a property in this region not only promises you a high-quality lifestyle, it also represents a solid investment, in an area where there is a continual high demand for legal, quality homes but only a limited supply. Engel & Volkers Mallorca North estate agents are here to offer you qualified, expert advice, just get in touch. We have three shops in the north, in Pollensa, Puerto Pollensa and Puerto Alcudia, feel free to call in or contact us via pollensa@engelvoelkeres.com or +34-971-53 20 50.