Notary statistics indicate that Americans now stand eighth in the list of foreign home buyers in the Balearics. Although the percentage is still relatively small - 3.2% of the total - the president of the ABINI association of national and international real estate agents, Daniel Arenas, notes that this is a "significant" figure, as Americans hadn't been as prevalent as they now are.
Arenas emphasises Americans' high purchasing power. They are buying homes of three to four million euros, "so it can't be said that they're taking homes away from the residents of the islands". He adds that 20% of properties being sold are already owned by foreigners.
Information from the notaries shows that 60% of Americans buying homes in the Balearics are residents. Arenas says many were looking for a change of pace and decided to come to Europe, ultimately choosing the Balearics. Americans uncomfortable with Donald Trump's policies are looking to take this step, while insecurity in some parts of the States is said to also be a factor.
American buyers, according to Arenas, principally look for large houses in the Tramuntana Mountains - Deia, Pollença and Valldemossa are all popular. "They usually want very large houses, with huge rooms, and in estates or developments with a lot of privacy." However, the type of property they seek is in limited supply.
Arenas doesn't therefore believe that American buyers will necessarily move up from their eighth-place ranking. The foreign buyers list is headed by Germans with 39%, followed by the British (just under eleven per cent) and Italians with eight per cent.