College of Notaries' figures for the first half of 2025 indicate that foreign property buyers in the Balearics are continuing to be turned off by high prices.
From January to June there were 2,816 sales to foreign buyers, a fall of almost seven per cent compared with the first six months of 2024. This decrease was the second greatest in the country behind the Canaries (down 7.7%). For the whole of Spain, sales to foreigners were up two per cent.
While there was this decline, foreign purchases represented 35.3% of the total, a higher than usual percentage.
Daniel Arenas, the president of the ABINI association of national and international real estate agents, says this is "an adjustment", one caused by both high prices and limited supply. Prices of properties bought by foreigners continued to rise over the first half of the year - up to an average of €4,896 per square metre. In 2024, the average was €4,492.
With sales not being made, Arenas wonders if owners might consider lowering their asking prices; only "a possibility" he believes.
Elsewhere in Spain, sales to foreigners rose by up to 30%. This was the case in Asturias.
Second-quarter figures from the College of Registrars pointed to a fall in the sale of homes to foreign buyers - 1.6% year on year - confirming a trend that has been evident since 2023.