Balearics tourism to give boost to property market

Photo: Lone Snapper

There will be 34 million flight seats available to the Balearics this holiday season, 9 per cent more than in 2013, according to Palm Airport, a rise that is expected to encourage more people to visit the island - and, in turn, give a lift to property investment.

According to the Spanish Airport Authority (AENA), the UK is the biggest market for the Balearics, dominating in Ibiza and Menorca, and coming second only to the Germans in Mallorca. Brits are very loyal to the Islands: of the 34 million seats available for summer 2014, 7.7 million are between the UK and the Balearics, up almost 10% on 2013.

Overall the Islands will connect to no less than 74 new destinations and all previous passenger records are expected to be broken. Palma Airport, the Islands' largest, connects to 160 airports in 28 countries with the UK, Germany, Austria, France and Switzerland its key markets.

Daniel Chavarria Waschke, Managing Director of Balearics Sotheby's International Realty, comments: “The Balearics offer an upmarket travel experience accompanied by stunning scenery and guaranteed warm weather throughout the long summer. We have 26 golf courses, many of which are world-class, several five star hotels including examples from Jumeirah, Barcelo and St Regis, gorgeous beach clubs from Nikki Beach to Blue Marlin and superyachts available for charter across chic marinas such as Marina Botafoch in Ibiza and Philippe Starck-designed Port Adriano in Mallorca.  Add Spain's new Golden Visa policy which offers residency to foreigners buying property with a minimum value of 500,000 euros and these tourists will surely become homeowners of the future.”

The islands are already very popular with foreign buyers, he adds: “The Balearics have the highest foreign resident population in the whole of Spain, 20.19% according to official figures for 2013, and the Islands are popular amongst a broad spectrum of nationalities from the British to the Germans, Italians to Americans.

"This nationality mix is what keeps our property market so resilient."

Indeed, the Balearics have been one of the most resilient areas of Spain, while other regions have suffered severe price decreases.