Italians outnumber Brit Purchasers for the first time in 2018

Foreign investment in the Baleares continues to increase according to the “Consejo general de Notariado“. Average sale prices has risen to 2,790€ pm2 compared to the national average of 1,687€ pm2.

The latest figures show the Italian market is now stronger that British.

For the first 6 months of 2018, Germans continue to lead, amounting to 23% of all foreign purchases. The second strongest was Italian with 15%, closely follwed by the British, Swedish, French and Swiss.

Interestingly, it appears the majority of purchases appears to have been made by Italian businessmen/women who chose to reside on the islands.

Improved air links with Italy have helped to boost Italian residency, along with poor economic opportunities at home.