Bank-owned home sales on the up

SALES of properties owned by banks in the Balearic Islands have registered an increase of 5.5 per cent, which is higher than the national average.
According to data released by the online site DonComprador.com, the Balearic Islands currently have 1,405 bank-owned homes for sale, only 2.9 per cent of the total national. However, the average price of these homes is 55 per cent above the Spanish average.
During the first four months of the year, the number of properties registered a negative trend, with a decrease of 9.3 per cent, while prices reached an average of €137,973 per home. The Spanish average currently sits at €89,045 per property.

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