If the figures do not drastically fall in November and December, 2022 will reach a record number of rural property sales in the Balearic Islands. The countryside is becoming an increasingly prized asset for real estate buyers, whether they are investors, families, foreigners, etc., and demand is very high, say property agents consulted by this newspaper. A situation that is making things more and more complicated for the farmers in the face of high land prices which in turn has a direct impact on the landscape of the islands and the productivity of the land.
The verified data that this newspaper has been able to consult come from the National Institute of Statistics. Up to October 31st of this year, a total of 3,857 rural properties have been sold on the islands. At the end of the year (adding another two months) a figure of more than 4,450 sales transactions will easily be reached, a historical figure for the Balearic Islands. In 2021, 4,398 transactions were closed. In 2020, the year of covid, they fell to 3,058. In 2019, there were 3,695 property transactions, a lower number than the sales made up to October 31st of this year. If we follow the descending chronological order, we find outselves in 2012, just a decade ago, when the total figure of rural property transactions were 2,103. Thus, it can be stated that this rural property transations have more than doubled in the last ten years, a time period that would coincide with the last two legislatures of the Pacto de Progreso in the community.
Sharpest rise in rural property transactions was in 2016
The year that saw the biggest and sharpest rise in the purchase of this type of property was in 2016, a date that coincides with the great boom in tourist rentals. A study by Terraferida revealed that in that year the turnover through Airbnb reached 294.3 million euros on the islands as a whole.
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