The expected fall in home sales is now beginning to slowly bottom out
Prices are at all-time highs, increases are narrowing but remain firm
Listed offer inventory (supply) has started to increase again across all price points
Demand, more selective and more price sensitive, is still robust
The rental market is consolidating market highs in all the different segments; short-term, vacation, and longer-term, with price sensitivity prevalent but still with a consistent undertow of demand
Construction costs remain firm and delivery times are still problematic, prices are expected to remain high
New taxes in 2023 increase transaction costs for the higher-price tranches
The local and autonomous Balearic government, led by the center-right party PP, is trying to facilitate business, reduce bureaucracy, and introduce more market-friendly measures
