Lack of Supply blamed for Downturn of Balearic's Property Market

Submitted by admin on Fri, 31/08/2018 - 09:00

According to the National Institute of Statistics' (INE) latest report, sales transactions in the Balearic Islands fell by 27% on an annual basis in May and by 18% in June of this year, despite growth in most other Spanish markets, where demand from foreign buyers increased. Why has there been a downturn in the Balearic market, when the Costa del Sol for example has seen a robust growth of demand?