Apartments for sale in Genova Bonanova Sant Agusti

Real estate prices in Genova Bonanova Sant Agusti are influenced by several key factors, including location, property type, and amenities. Properties located closer to the waterfront often command higher prices, with average listings in prime areas reaching around €3,500 per square meter, while those situated further inland may drop to around €2,000 per square meter. The demand for family homes also impacts the market, with larger single-family houses averaging €1 million for a three-bedroom property. Additionally, proximity to quality schools and healthcare facilities can elevate prices by as much as 20%; for example, homes near sought-after international schools often see prices increase significantly. Economic factors, such as local employment rates and tourism, also play a role, with a fluctuation in the real estate market correlating to employment spikes in sectors like hospitality and tech, thus driving demand in the area. The historical significance of certain neighborhoods within Genova Bonanova Sant Agusti can also add to property values, as heritage listings often attract higher bids, with some vintage properties improving in value by over 15% annually in recent years.

Property prices in Genova Bonanova Sant Agusti are generally higher compared to nearby areas like El Terreno and Son Armadams. As of late 2023, the average price per square meter in Genova Bonanova is around €4,200, making it one of the more sought-after neighborhoods in Palma. In contrast, El Terreno, which is just a few minutes away, sees average prices of approximately €3,500 per square meter, while Son Armadams can be found at about €3,700 per square meter. Homes in Genova Bonanova often feature larger plots and more modern amenities, contributing to the price differential. For instance, a typical three-bedroom villa in Genova Bonanova can be listed for around €1.2 million, while similar properties in El Terreno might go for €900,000. This price variation reflects not only location but also the overall demand and the characteristics of the properties available in each area.

Average home prices in Genova Bonanova Sant Agusti typically range from €3,500 to €5,500 per square meter, although this can vary based on specific locations and property conditions. For example, a two-bedroom apartment might cost around €400,000 to €600,000, while larger luxury villas can exceed €1.5 million, particularly if they boast sea views or proximity to the coast. Recent listings show that a renovated 100 square meter apartment fetched approximately €450,000, highlighting the area’s appeal. Additionally, properties with modern amenities and outdoor spaces in sought-after neighborhoods often command premiums, with some reaching upwards of €2 million.

Property prices in Genova Bonanova Sant Agusti have experienced fluctuations over the past year, with recent trends indicating a modest increase. As of late 2023, the average price per square meter in this upscale area is approximately €4,500, which reflects a rise from around €4,200 just a year prior. Some specific properties, such as luxury villas, have seen even higher pricing, with sales reported at €7,000 to €9,000 per square meter depending on location and amenities. Conversely, certain areas within Genova Bonanova have seen stagnation, particularly apartments that lack modern renovations, which are still selling at around €3,500 per square meter. The overall market dynamics appear to be driven by a combination of demand from international buyers and limited inventory, impacting various segments of the real estate landscape in this part of Mallorca.

Genova Bonanova Sant Agusti, located in the Balearic Islands, is known for its upscale residential properties, which predominantly include villas and luxury apartments. The area features a mix of new constructions and traditional Mediterranean-style homes. Typical villas often range from 3 to 6 bedrooms, with living spaces starting at around 200 square meters and going up to over 500 square meters. Many properties come with outdoor spaces, including private gardens and swimming pools, and tend to be priced between €1 million and €5 million. Luxury apartments, which can average around 100 to 200 square meters, frequently boast 2 to 4 bedrooms, offering views of the sea or surrounding hills. These apartments can range from €500,000 to €2 million, depending on their location and amenities. Additionally, the area features some mid-range homes, often starting at approximately €300,000 for smaller apartments, making it appealing to a diverse demographic, including families and expatriates.

Economic conditions play a crucial role in real estate pricing in Genova Bonanova Sant Agusti, as seen in recent trends. For instance, the area's average property price per square meter hovers around €3,500, with luxury developments fetching upwards of €5,000 per square meter. The local economy, driven by a combination of tourism and expat demand, saw a surge in prices as the region recovered from the pandemic. During 2021, the average property price increased by approximately 8%, correlating with a decrease in unemployment rates, which fell from 12% in early 2020 to around 9% by the end of 2022. Additionally, the rise of remote work has influenced demand for larger residential spaces; properties with three or more bedrooms have seen an increase in interest, causing prices to elevate by an estimated 10-15% as buyers seek homes that accommodate new lifestyle preferences. Furthermore, mortgage rates also impact affordability—recently, lower interest rates have made borrowing more accessible, potentially inflating demand further and pushing prices higher in the sector.

Properties in Genova Bonanova Sant Agusti are significantly impacted by amenities that enhance their desirability and overall market value. Proximity to high-quality schools, such as the Lycée Français de Palma, can add approximately 10-15% to a property's value, reflecting the area's appeal to families. Access to green spaces, like the nearby Parque de la Riera, not only improves the neighborhood's aesthetics but also increases property prices by about 5-10%, as residents value outdoor recreational areas. Additionally, properties within walking distance of essential services, including grocery stores, cafes, and medical facilities, can see an increase in value by around 5% due to their convenience. Proximity to the waterfront also plays a crucial role; homes with sea views can command prices up to 20% higher than comparable properties inland.