The sales market in the archipelago is very fragmented and has no clear dominants, with a large presence of local real estate agencies (API) and service companies such as Altamira or Haya.
The selling residential properties held by API in the Balearic Islands amount to 86%. This figure makes the archipelago one of the most professionally developed real estate markets in Spain, ranking sixth among the provinces with the most residential properties in API, according to a report by Brainsre.
By area, Ibiza is the island with the least professional sales market, and Minorca is the island with the sales market with the least amount of real estate in the hands of individuals. However, Menorca is also the island with the least professional rental market.
On a more specific level, Menorca, Mahón and Marratxí are the municipalities where the largest number of properties are managed by professionals in the sales market, while Inca, Marratxí and Palma de Mallorca are in the rental market.
Apartments and houses for sale
The family-owned company Balear Invest, which specializes in luxury and also has a strong presence in the single-family rental market, is leading in terms of apartment sales. The real estate company Bonnin Sanso is in second place. Its director, Juan Mateo, explaines to Brainsre.news that they sell all types of real estate - from parking spaces to estates, "but, without a doubt, the most popular apartments and villas cost from 150,000 to 350,000 euros."
Altamira takes the third place. Augusto Monte Boquet, Altamira's Director of Territorial Coordination in the Balearic Islands, says: "The housing market is currently booming, both in the country as a whole and in the Balearic Islands. Demand is growing, and all indications are that good prospects remain."
With local companies, the Balearic market is well represented by such service companies as Haya Real Estate and Altamira, as well as the real estate company Outlet de Viviendas.
As for the sale of villas on the islands, the market is dominated by agencies that specialize in working with foreign clients, such as Neptunus International Real Estate, which occupies the first place. It is followed by real estate agencies Riera&Taylor and Kensintong Finest Properties International.