Galicia is proving to be particularly attractive to Mallorcans who can't afford to buy properties on the island. Patricia Vérez, president of the estate agents association in A Coruña, says the trend began a few years ago, is now firmly established and on the increase. "We get many requests from Mallorcans who want to buy a house in Galicia because they can't afford one in Mallorca due to the high prices."
Apartment prices in Galicia range from an average of €50,000 to €250,000; the most expensive properties are usually located in cities. In A Coruña, an 80-square-metre, two-bedroom apartment has an average price of around €250,000. In inland villages, homes can be purchased for €60,000-€80,000. Stone houses can be bought for around €50,000, but these require extensive renovation.
Her counterpart in the Balearics, José Miguel Artieda, says there are many enquiries about buying in Galicia. "We put them in touch with our Galician colleagues so they receive proper advice."
As well as Galicia, Artieda says there are people buying in Andalusia. Many had moved to Mallorca in the past and are now returning. "There they can buy much cheaper houses, and with the money they have left, they can ensure a comfortable retirement."
But the interest in buying in Galicia, which isn't confined to people from Mallorca and the Balearics, is raising concerns about pushing prices up and making housing less accessible to Galicians - as has happened in Mallorca.
Third-quarter figures from the College of Registrars indicated that the average price per square metre in Galicia was €1,647, an increase of 2.5% compared with April to June this year. In the Balearics, where there was a 3.8% increase, the price was €4,096.