Hidden Mallorca: Taylor Wimpey España uncovers the truth behind the island’s property market
- Balearic property sales down 27% in May (Land Registry)
- Falling sales attributable to property shortage, not lack of demand (Taylor Wimpey España)
- New build homes racing to fill the gap between demand and supply: Taylor Wimpey España Mallorca reservations up 25% year to date
Leading Spanish home builder Taylor Wimpey España has shed new light on the state of Mallorca’s property market. While official Land Registry sales figures showed a drop of 27% in May across the Balearic Islands, the Taylor Wimpey España team asserts that this is not due to a lack of demand, but a lack of supply, at least so far as the Mallorca market is concerned.
“We’re seeing an interesting pattern emerge on Mallorca, with buyers sticking steadfastly to what they want from their property purchases. If they can’t find the right property at the right price, they’re pausing rather than settling for second best.”
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España
The new build sector is racing to make up for the shortage of homes that meet buyers’ demands on Mallorca, and Taylor Wimpey España is leading the way. Having been building on the island for 60 years (1958 – 2018), the company is attuned to what Mallorca buyers want. In fact, the company has just been ranked as Mallorca’s top building company by the respected Diario de Mallorca.
One of its most exciting recent developments is Acquamarina, at Cala D’Or. The two-bedroom homes are surrounded by lush gardens, with a large communal pool. Buyers can choose between ground floor homes with large terraces, private porches and gardens, or penthouses with private solariums offering magnificent views. Prices start from €220,000 plus VAT.
The high end specifications at Acquamarina epitomise the luxurious standards that Mallorca buyers are looking for – and that they are prepared to wait for.
“Buyers are choosing new build homes in order to get what they want from a market that otherwise has limited options. It’s about not compromising on quality. If buyers can’t find what they want, they are happy to wait until they can purchase the level of luxury that they have in mind.”
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España
Taylor Wimpey España’s figures reveal the truth of the situation, with Mallorca reservations up by 25% year to date compared to 2017.
In simple terms, new build homes are delivering what buyers want, and what they can’t find elsewhere on the island. Mallorca’s property market is actually alive and well – it’s just that buyers’ purchasing patterns are shifting more towards new build developments, meaning that official figures are hiding the market’s real story.
For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.