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