The year-round mild climate, the mix of traditional coastal towns and breathtaking landscapes as well as a prospering tourism industry are more than enough reasons to invest in one of our exclusive properties in the north of Mallorca.The north of this well loved Balearic Island stands for the highest quality, which is reflected in the results of our analysis of the current market Mallorca market report and again in the selection of villas, townhouses and apartments for sale in the premium category. With the help of our experienced real estate agents, international buyer target groups such as families or commuters are primarily looking for a holiday home or a second home in the north of the island. In a working region extending from beautiful Formentor to the enchanting town of Santa Margalida you will find high quality real estate such as this exclusive new villa with sea and mountain views in Bonaire.
Positive influences, such as the recent development of a five-star hotel in Cala San Vicente and the construction of boutique hotels in the old towns of Alcudia and Pollensa, as well as money being injected into an even better infrastructure, have a positive effect on the local property market and increases the appeal of the North for the purchase of a villa or an apartment. If you are thinking of buying a property in the north of Majorca consult the expert real estate agents at Engel & Völkers Mallorca, who can give you comprehensive advice regarding current market and property trends and help you find a property that matches your search criteria.
As seen in our current Mallorca market report 2019/2020 the number of property transactions on Mallorca has almost doubled since 2014. Although the boom year 2017 could not be surpassed, the Mallorcan real estate market is still very healthy. In the last few years our real estate agents have been able to market around three times as many new development projects and to list almost twice as many properties in our exclusive portfolio. Demand and supply are more in line and the proportion of total properties for sale that we have listed is around 46% which, according to our real estate agents, reflects the satisfaction of owners in Mallorca.
Sought-after locations in the north of Mallorca, apart from Puerto Alcudia, include more rural villages and towns such as Campanet, Búger and Muro. It is in these areas more than anywhere else that the housing market continues to develop rapidly. Modern apartments, with Mediterranean views of sea and mountains are for sale at an average price of 400,000 Euros. If you are interested in buying a villa in and around Alcudia and Pollensa, you will find stable price levels averaging between 1.5 and 2.5 million Euros, this modern villa in Manresa is in our current portfolio. Our international real estate agents particularly recommend considering the rural areas of the north if you are searching to buy, because this is where you will get the best value for your money.
Construction costs have tripled since 2007 due to better and a more sustainable construction quality this in turn has resulted in an increase of property prices in the north of Mallorca in recent years, but has had a positive effect on the 11% decrease in sales turnover. The investment interest of international buyer groups, which are dominated by German families, concentrated mainly on modern apartments, such as this beautiful luxury home in Puerto Alcúdia and on villas in Alcudia and Pollensa. Private investors particularly value properties with a rental license in order to generate a long-term source of income.
Further information regarding current market and property trends in the north of Mallorca can be found in our Mallorca market report 2019/2020 and at the Engel & Völkers Mallorca property shops our specialist real estate agents are available by appointment for a personal consultancy, please contact our property shop in Pollensa. Our portfolio will give you an overview of the villas and apartments for sale in the north of Mallorca.