Balearic boom

Move over Saint-tropez and Cannes: the Mediter­ranean is­land of Mal­lorca is now the glam­orous place to own a sec­ond home, says Ara­bella Youens

Country Life Every Week - - Mallorca -

When the son of the ‘worst man in the world’ al­legedly got kid­napped in last year’s hit BBC1 adap­ta­tion of John Le Carré’s The Night Man­ager, star­ring Tom hid­dle­ston and hugh Lau­rie, view­ers were mo­men­tar­ily di­verted from the ac­tion by the idyl­lic back­drop of Mal­lorca’s strik­ing coast­line. The ex­po­sure for the lo­ca­tion of that scene, a fish restau­rant in Cala Deià, near the moun­tain vil­lage that was put on the map by the poet Robert Graves and now counts An­drew Lloyd Webber among its res­i­dents, lead to a spike in book­ings last sum­mer and a three-week wait for a ta­ble by the wa­ter.

What the £30 mil­lion mini-se­ries also firmly did was fi­nally to lay to rest any lin­ger­ing doubts that the Mediter­ranean is­land had not fully shaken off its pack­age­tourist coils and be­come one of the most glam­orous sec­ond-home des­ti­na­tions in europe. This can clearly be seen by the re­cent surge in house prices: en­gel & Völk­ers, which has the broad­est reach of cov­er­age of any agency on the is­land, re­ported a 38% rise in trans­ac­tion vol­umes in 2016 com­pared with the year be­fore; the av­er­age price of prop­erty has now tipped over the €1 mil­lion mark.

how­ever, that sum no longer buys you a huge amount: the com­pany cur­rently has a 69-acre coun­try es­tate out­side Pol­lensa on its books for €7 mil­lion.

‘Mal­lorca is one of the best-known and most exclusive sec­ond-home des­ti­na­tions in the world.’ says Flo­rian hofer of en­gel & Völk­ers. ‘We ex­pect av­er­age prices to rise again across all re­gions on the is­land this year.’

Fig­ures from Knight Frank sup­port this: the agency’s re­cently pub­lished Wealth Re­port found that Mal­lorca is one of europe’s top­per­form­ing sec­ond-home des­ti­na­tions. ‘From Puerto An­dratx in the south-west of the is­land, work­ing east along the coast­line, we’ve seen a re­mark­able uptick of sales year-on-year,’ says Mark har­vey, who’s cur­rently mar­ket­ing a con­tem­po­rary fivebed­room villa, with panoramic views of the busy Puerto An­dratx har­bour and the moun­tains, for €6.5 mil­lion.

But it’s not just about sea views. ‘Palma has gone through a huge resur­gence and keeps on go­ing. There’s an in­sa­tiable ap­petite for the apart­ments in the Old Town.’

Al­though Brexit did tem­po­rar­ily lift Bri­tish buy­ers’ feet off the ped­als in May and June last year, Sav­ills’ new as­so­ciate on the is­land, Iris Grue­newald, says it didn’t take long for them to re­turn. ‘Why? Be­cause Mal­lorca is widely re­garded as the safest in­vest­ment in the Mediter­ranean—for both peo­ple and cap­i­tal.’

‘Mal­lorca is widely re­garded as the safest in­vest­ment in the Mediter­ranean

Won’t let the sun go down: sec­ond-home buy­ers are, once again, flock­ing back to Mal­lorca’s un­spoilt vil­lages, such as Deià

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