A Spanish estate agent has seen sales quadruple at its offices in Ibiza and Mallorca in 2014, led by interest from British buyers, illustrating a wider confidence that the property market in Spain is recovering.
The Ibiza office of Sotheby’s International Realty (SIR) experienced a surge in sales, including those to overseas buyers, and as a consequence it has enlarged its property by 30% and launched a successful rental service in the past year. SIR’s Mallorca office says sales were up around 20% last year.
Glynn Evans, managing director of Ibiza Sotheby’s International Realty, says: “We can confirm that in 2014 we sold four times as many properties as 2013. Our own sales included apartments, plots and villas ranging from a €700,000 apartment through to a €3.2million penthouse and several villas between €1.8million and €4.5million.”
Alejandra Vanoli, managing director of Mallorca Sotheby’s International Realty, add: “In Mallorca house price falls have come to an end. Since June 2014, the banks have also become more open to lending, albeit with strict criteria. In 2014 our Mallorca sales were up around 20% on the previous year and we’re headed for record sales figures in 2015 – now is a great time to invest.”