ISLAND NEWS
21 11
JUNE 2023
PROPE RT Y
NEWS The main message from all over the island is that the Estate Agents are struggling to find enough houses to sell. Menorca became a popular safe haven after COVID restrictions were lifted. Visitors from the Spanish mainland and France were the first to arrive after lockdown looking for holiday houses. In addition, Menorca became popular with investors as it was seen as the ‘next Ibiza’ with visitors from Madrid seeking business opportunities. With many of the best properties snapped up and the housing inventory perhaps only half of what it was a few years ago, it will be interesting to see how the market performs in 2023, especially with the current economic difficulties and inflation. If you are thinking of putting your property on the market there will still be plenty of agents keen for your business. As always, quality houses will continue to sell and there are still plenty of people looking for houses to renovate in the town or the countryside. This month we catch up with a range of Estate Agents big and small to hear how their businesses performed in 2022.
JUAN MATEO - BONNIIN SANSO The Bonnin Sanso group experienced a great interest from buyers and sellers in second and third homes, estates and country houses, and especially in new developments. In addition, we detected a slow recovery of the British market hit by Brexit. In our 5 offices in Menorca and Mallorca, we closed 2022 with almost 400 sales transactions, an average of 1.22 sales per day, and with a group turnover of more than 130M€, 12.3% more than 2021. 14% were sales of up to 100.000€, 56% between 100.000€ and 300.000€, 16% between 300.000€ and 500.000€, 9% between 500.000€ and 1.000.000€ and the remaining 5% have been more than 1.000.000€. 62.8% of the sales were from Spanish buyers, of which 16.2% were residents of Menorca. 11.2% were French, 9.6% from the United Kingdom, 5.3% from Germany and the remaining 11.1% from Italy, Switzerland and others. Regarding sellers; 76.5% Spanish, of which 16.5% were residents of Menorca, 16.2% from the United Kingdom, 2% Germans and the residual percentage, French and others. According to the data, we can say that 48% of the sales were apartments. The remaining 52% was distributed between Villas, Houses, Fincas, Premises and others. Throughout 2022 we received nearly 5,000,000 unique visits to our website and more than 13 visits per day to our offices.
SIMON COTTON - HOME MENORCA Home Menorca is one of six estate agents making up the Portal Menorca group. Their strategy is to group together to share marketing costs and the property database. In 2022 the sales by the group were broken down by nationality into 62.4% Spanish, 18% French, 10.1% British, 5.8% Italian, 1.1% Dutch with the other 5% made up of German, USA, Mexican, Swiss, Belgian. The product breakdown was 40.4% apartments, 22.7% villas, 14.1% Houses, 12.1.% land, 3.5% Rural properties with the rest made up of commercial property, garages etc.
TONIA KIRK - MENORCASA Menorcasa is a Boutique Property Agency which has been run by Tonia Kirk for 22 years. Tonia says “Menorca became more popular because of COVID but also for the French it became a fashion to own a holiday house in Menorca. The construction industry was also affected and there was a lack of new builds coming onto the market. All this has resulted in a noticeable shortage of properties.” Tonia has properties for sale ranging from small holiday apartments, villas, town houses, farmhouses, new developments and plots. In 2022 the company sold a number of these for British owners. Some were downsizing, others swapping their holiday home in Menorca for one in the UK. The British sold to Spanish and French buyers but there were still significant UK purchasers despite the restrictions of Brexit.
Tonia’s philosophy is to be small, compact, energetic and flexible at all times. Val and Cristina make up her small team which offers a unique and very personalised service . Tonia is enthusiastic about keeping her customers informed of everything happening on the island. To this end, she makes regular videos on Facebook and Instagram to explain local traditions, customs and events as they take place around Mahon and further afield. If you want to know why there is a giant warty grandmother roaming the streets at Easter, how to make an Ensaimada, why roses and books are given on St Georges day, or what was on show at the Es Mercadel Horse breed show or Alaior tourist fair, then follow her on Facebook. https://www.menorcasa.com/ Email hello@menorcasa.com Plaça del Príncep, 4, 07701 Maó, Illes Balears Tel: 971355789
Since 2000, Tonia has seen and survived several down turns in the market. At one time she had two offices, one in the Port of Mahon as well as the head office in the centre and she had as many as 8 staff. The recession in 2009 and the impact of the internet on the housing market led her to downsize. She had to make 3 staff redundant, but she managed to hold on to her main office. She learnt not to be overburdened with too many overheads and this stood her in good stead during COVID. ROQ U E TA M AGA ZI N E . N E T
TONIA WITH HER TEAM
