Menorca is an island residing in the Spain’s Balearic Islands; and is famous for its natural beauty and peaceful environment. It is a family-friendly environment where you can enjoy a peaceful holiday with your family surrounded by beautiful nature and staying low key. Menorca is one of the least visited islands in Spain, and where it is great for introverts and people who just want to spend a private weekend away from work, it is gradually acquiring its name.
Contrary to its neighbour islands, Menorca stands at one of the best real estate values in Spain. This is because the neighbour islands of Mallorca and Ibiza although are very similar in structure and environment but vary in value. Property prices in Menorca are generally 15-20 percent lower than the other two islands, which makes this a great place to invest in properties. Villas in Menorca cost about two third less than in Ibiza and half as much in Mallorca.
What Affects the Price of Menorca Villas?
Where Ibiza is famous for its nightclubs and party towns, Menorca’s coastline is not haphazardly crowded with resorts or restaurants. For people who prefer secluded beaches along the coastline and quiet pine forests, Menorca is the place to live. This element of relaxation and nature’s beauty keeps the tourists and visitors to come back and is even prioritized by celebrities. Tourists prefer to live here and spend their summers in July or August at the Menorca villas. In case second home buyers want to invest in the villas in Menorca, they have to apply for tourist rental license from the local authority in case they want to rent the property they own. The license costs between €800 and €1,000 and the processing of the documentation can take months to complete.
Prices of Villas in Menorca
The average cost of villas in Menorca have risen about 5 percent roughly in the year 2017; so you can imagine the rate of real estate cost now. The high-end part of the villas market has remained consistent throughout and some properties, the first and second lines of the seafront at Cala Llonga have increased in value. The most expensive villas on the island are front-line properties and they are priced between €800,000 and €7 million (US$927,429 and US$8.12 million). Which brings us to an estimated average of a villa price to about 2500€ per sqm in Menorca.
Average Cost of Luxury Villas
The costs between average villas and luxury villas differ due to the dimple difference of provided features and landmark property rate. Menorca is developing with time and has now started to gain a lot of attention by the tourists and second-home buyers. Villas in Menorca
Consisting of six detached three-bedroom homes with white stucco homes exteriors and private pools with views of the beach are luxurious and magical yet come with exceedingly high prices. The Average cost of Luxury Villas in Menorca start from €590,000 and may increase with more features and area per square foot.