Second-quarter figures for the Balearics from the College of Registrars point to a fall in the sale of homes to foreign buyers. The decrease wasn't great, 1.6% year on year, but it marked a further decline in foreign purchases, this having been evident since 2023.
In terms of total sales, those to foreign buyers amounted to 28%, this percentage having typically been at least 30%. There was an 8.8% fall in all sales, according to the registrars.
Foreign buyers may well now be being deterred by ever-rising prices. The registrars note that the average price for a 90-square-metre property in June 2021 was €245,790. This is now €355,140. Only Madrid has a higher price per square metre.
By contrast with the 28% in the Balearics, foreign purchases were 43% in Alicante, 36% in Tenerife and 33% in Malaga.
The wide variation in prices in Spain is such that for the average price in the Balearics, four properties in Extremadura could be bought; the average in that region is 79,290 euros.