The island of Menorca is a popular place for property investment, particularly in the centre of the island. Es Mercadal and Fornells are two places in the centre of Menorca that are experiencing a rise in property prices. In 2020, historic country estates built in traditional Menorcan style are expected to sell for an average of 2.5 million euros, while villas in good locations are expected to change hands for a median price of one million euros. Mahon is the traditional island capital and boasts the largest natural harbour in the Mediterranean. Apartments and townhouses in Mahon achieved average prices of 400,000 euros, while townhouses sold for up to 550,000 euros.
Property prices are rising in Menorca
If you are thinking about buying a property in Menorca, now is the time to do so. With demand for villas on the rise, the island is one of the best places to invest in property. Menorca is still the cheapest island in the Balearics, with property prices about 15%-20% less than those on its sister islands. For instance, seafront properties in Menorca are less than half the price of those in Ibiza.
The island’s natural beauty and abundance of beaches makes it an attractive place for buyers. Due to the shortage of properties for sale, demand is high. According to the latest data from Engel & Volkers, residential property prices in Menorca have increased by 15% in the last two years. The increase is driven by the limited availability of homes for sale, and by increased demand for second homes. The largest rises have been seen in coastal properties and villas.
Despite the island’s high demand for property, it still offers a truly authentic island lifestyle. For many, it has been the Mediterranean’s best kept secret. Luxury tourism has also made Menorca an attractive option. In fact, the boutique hotel “Cristine Bedfor” will open in Menorca in summer 2021.
The mountain range of the Sierra de Tramuntana provides protection against cold winds in winter. The central areas are also home to vineyards. This area is becoming more desirable, as vineyards and country houses are in high demand. This makes it an attractive place to invest in property. Its proximity to the capital city of Palma makes it a good choice for first-time buyers and second-homes.
The region of Menorca has a strong and reliable property market. The island’s robust property market has led to an increase in price per square metre – much higher than in mainland Spain. While this is a brief window of opportunity, the market is unlikely to stay this way forever. This will depend on how quickly the economy recovers post-covid.
The lack of new properties has impacted the choice of buyers. In the past, people were more likely to choose new-build properties or mid-rise apartments, but this trend has changed. Now, buyers are choosing older, detached houses for sale on the secondary market or plots of land with ready-made constructions.
Investment opportunities in Menorca
For those looking for an investment opportunity, Menorca real estate is a great option, especially in tourist areas, where prices are relatively low. In fact, you can buy two-room terraced flats for less than a thousand euros per square metre, a great bargain in this Spanish island. Due to the low prices, many Italian investors have begun looking for Menorca real estate. Other attractive locations include Ciutadella and Mahon.
If you are interested in investing in Menorca real estate, the fastest way to invest in Menorca property is to buy an existing house. The market for new properties is limited, and you can avoid the risks and expenses of a construction project by buying an existing house. However, it is important to seek legal advice before buying a Menorca property.
Unlike Ibiza and Mallorca, Menorca is not as well developed as its neighboring islands. Despite this, some areas remain a pure paradise. While it is an increasingly popular tourist destination, Menorca is still relatively underdeveloped compared to many of its neighbouring islands.
A recent report by the Center for Real Estate Studies shows that Menorca is one of the most attractive investment opportunities in the Balearic Islands. The small island is renowned for its laid-back atmosphere and its biosphere reserve. It has also seen a surge in interest from U.K. luxury buyers, who are focusing on buying significant pieces of land.
A once-in-a-lifetime development opportunity has just become available on the island. It is located near the cove of Ets Alocs and offers 360 acres of unspoiled beachfront land. You can even apply for residency permits to live in Menorca. And the price is only one-third of what you’d pay for comparable property on Mallorca and Ibiza.
The Menorca real estate market has been in decline since the financial crisis of 2008. But now, property owners have started to market directly to potential buyers, with Facebook ads and YouTube videos. The island offers a luxury lifestyle that has made it a sought-after location for tourists. The island’s UNESCO Biosphere Reserve designation means that the countryside is well protected.
Places to visit in Menorca
Menorca has numerous turquoise-blue beaches and untouched coves. Playa Son Bou is the largest beach on Menorca, while Cala Mitjana is an unspoilt cove, perfect for snorkeling. The island’s beaches are mostly located in the southwest, but the northern part of the island has more isolated beaches. Cala Mitjana is one of the most popular beaches on Menorca, with white sand and crystal-clear waters backed by pine trees. There is also another smaller beach called Cala Mitjaneta, which is a popular destination with few facilities.
Those who like the outdoors can take a tour of the island’s rugged coastline. If you are fond of nature, you might enjoy the Albufera des Grau nature park, which has hiking trails to the island’s beaches and the Favaritx lighthouse. The park is also home to a restaurant with a beautiful view of the island. If you are into water sports, you can try kayaking or scuba diving.
Another place worth visiting on Menorca is the Talaiotic village of Son Catlar, which is the largest of its kind on the island. Its architecture is unique and was carved into an ancient rock face facing the sea. Visitors can wander through the stone terraces and admire the vistas of the Mediterranean.
Another great activity to do while visiting Menorca is paragliding. While this activity may be expensive, the adrenaline rush is well worth it. You can also take part in the famous Mahon trotting races, which have been held in the city for over 200 years. While the thrill of paragliding is expensive, it’s well worth the expense!
If you’re looking for spiritual attractions, Ciutadella Cathedral is a must-visit. It’s home to beautiful displays and artwork from the thirteenth century. King Alfonso III of Aragon built the cathedral. It also features a stunning chapel, the Chapel de les Animes, which dates back to the 18th century.
Ciutadella de Menorca is another beautiful place to visit in Menorca. Besides golden beaches, it’s home to picturesque fishing villages and whitewashed houses. You can find beautiful handicraft shops in these towns as well.
New developments in Menorca
New developments in real estate Menorca are making the island a more attractive destination for second homes and holiday homes. The island is experiencing a rise in the sale of contemporary homes with large rooms and en suite bathrooms. A number of these developments also feature a private terrace with sea views. They are also surrounded by pine trees and stone walls.
The island of Menorca has become increasingly attractive to international investors and retirees, as well as families with children. With a burgeoning population, the island has seen property prices rise along with its popularity. Visitors will find a real Mediterranean atmosphere and a lively calendar of traditional events. In addition, the island offers a seductive combination of stunning vistas and exquisite gastronomy.
The two largest cities of Menorca are Ciutadella and Mahon. Ciutadella is located in the heart of the island and has a mix of old and new real estate. Mahon is the capital of the island and features an elegant mix of urban and rural living.
Mahon is another city in Menorca with a long history. It is a popular choice for people looking to buy a property that will have sea views. Mahon has some of the highest-end property prices on the island, with an average villa selling for more than one million euros in 2020.
With its stunning beaches and natural beauty, Menorca is an attractive destination for holiday homes. It is easily accessible from Spain’s major cities and is less than two hours away from Barcelona. In addition, this island is becoming increasingly popular with British expatriates and holiday makers. With its two-hour flight time, it’s an ideal getaway for anyone looking for a relaxing atmosphere and nature-inspired entertainment.
