A study by the Idealista property website shows that the Balearics (and Mallorca specifically) is the Spanish region most preferred by German property buyers - and by far. Of the top ten municipalities in the country, four are in Mallorca. Palma heads the list, followed by Calvia. Llucmajor is fifth and Manacor ninth.
Mallorca dominates the luxury segment of the German market, as indicated by the price of properties and purchasing power. In this regard, Calvia stands out - 27% of properties bought by Germans in Calvia have cost over one million euros. Palma is the second municipality with 15% over the one million mark. In no other municipality in Spain, with the exception of Barcelona, is this more than 10%.
A separate study by the Centre for Real Estate Studies (CRES) points to the attractiveness of Mallorca to the German buyer compared with German islands - Norderney and Sylt - and main cities. The average price per square metre in these parts of Germany ranges from 4,000 to 13,000 euros; in Mallorca it is between 3,000 and 6,000 euros.
And another report, based on figures from the College of Registrars, indicates that the Balearics was the region with the highest percentage of foreign buying in 2021 - 5,009 sales, around 33% of all sales. The next highest percentages were the Canaries (24%) and Valencia (21%).
The vast majority of these foreign buyers, just over two-thirds, were not residents of the Balearics, so these were purchases for use as second homes. The German market accounted for 2,237 of the foreign sales, getting on for 50%. They were followed by the British (492), the French (263) and the Swedes (200).