Menorca is well known to you as a holiday home and you appreciate the comparatively secluded nature of the tranquil Balearic island as well as the relaxed nature of the locals. With the purchase of a house or apartment, you want to enjoy the benefits of Menorca throughout the year, but do not know exactly which location is best for you. With Engel & Völkers, prospective buyers have Menorca's leading real estate agent in the premium real estate segment by their side.
The strict rules regarding construction work and renovations on the island have, since last year, led to more demand in purchases than real estate supply available; It is therefore more rewarding to be able to rely on a real estate agent with detailed knowledge of the local market when looking for and buying a home. The analysis by Engel & Völkers shows that new buildings are restricted in rural areas and only very difficult to materialize as a project on the coast. As a result, first-class homes and apartments are rarely on the market. Homes near the coast are most sought-after, but the old towns of Menorca's two largest cities - Ciutadella and Mahón - are popular for the purchase of apartments, as there is still potential for development here. This is reflected in the price. The average purchase price of apartments in the capital Mahón in 2016 was 220,000 - 700,000 euros, while in 2017 it was already 250,000 - 750,000 euros. A similar development is registered by Engel & Völkers in other cities of Menorca. For example, in Ciutadella, in 2016, the owners changed hands for 180,000 - 600,00 euros and 2017 for 200,000 - 600,000 euros. According to Engel & Völkers, this price increase of approx. 15%, which can also be recorded in the purchase prices for houses, is expected to continue this year. You can find further figures on the price development for the purchase of a house or apartment on Menorca in our current Market Report. Or feel free to contact us personally. Our real estate agents are looking forward to your questions.
In Mahón, the estate agents of Engel & Völkers are already present with a shop, and an additional shop will follow in the summer of this year in Ciutadella so that we can offer our customers a complete service at both locations.
Menorca is a multi-faceted island, with everything from rough, steep cliffs and breathtaking natural harbors in the north, to beautiful coastal walks amidst pine forests, almond and fig trees, to numerous coves, gorgeous white sand beaches and crystal clear waters in the south. This and the fact that Menorca is still largely untapped by tourism make the island an oasis for various groups of buyers who are looking for a relaxing second home away from the hustle and bustle of tourism and want to fulfill their long-awaited dream of buying their own home, or apartment in this idyll. The leisure facilities are varied and range from golf, snorkeling and diving, to exploring the island on the back of a horse. Also those interested in cultureget their money's worth here as well. Menorca's historic heritage is abundant, with more than 1,000 prehistoric monuments, artificial caves, remains of the Roman era and Islamic period, and structures of early Christian churches. For example, the palaces of the Plaça del Born in Ciutadella, Mahón, Menorca's largest city, and the Cathedral of Santa Maria de Ciutadella are especially worth seeing. Here, the evening ends in bars and restaurants with a romantic view of the harbor and the old town. Mahón, the capital of Menorca, is the second largest natural harbor in the world. In addition to the churches, museums and winding streets this is a sight that should not be missed when you buy a house or apartment there.
The real estate agents of Engel & Völkers have been present in Menorca since 2006 and are very well acquainted with the island. Talk to us.
