Global Spotlight: Discovering the Charm of Mallorca with Engel & Völkers (2024)

Sought-after Districts

Palma

If you’re looking for a city synonymous with luxury, look no further than Palma. Palma, the island's capital, not only offers a rich history of the arts, but offers a luxury experience unlike other cities on the island. From some of the most romantic five-star boutique hotels, Michelin-starred restaurants and Modernista buildings, to the Gothic cathedral La Seu and the booming art scene, the city of Palma is unlike any other on the Island.

For any aspiring art-historian, Palma offers a handful of unique galleries and museums showcasing some of the most sought-after works of art that time has seen. Home to the Es Baluard Museum of Modern and Contemporary Art, the museum features works by Pablo Picasso and Miguel Barcelo, among other notable artists. In addition, The Fundació Miró Mallorca in Palma is dedicated to the work of the artist Joan Miró and offers a brilliant insight into the artist’s life and works.

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Valldemossa

In the Tramuntana Mountains, and only a 15-minute drive from Palma, sits the antique town of Valldemossa. Sitting at the highest elevation in Mallorca, the village is recognized for hosting the Polish composer Frédéric Chopin and his partner, the writer George Sand, during the winter of 1838/9, leasing accommodations within the monastery during this period. If you find yourself dreaming about paying Valldemossa a visit, August is the perfect time to explore the city during the annual Chopin Festival, where you can experience world-class musicians performing his compositions.

The charm of the village goes beyond the upscale retreat and boutique accommodations such as the romantic Hotel Valldemossa, encapsulated with fragrant greenery and stunning views. Valldemossa holds a rich, sacred historical aspect to the people of the Island, as it is the birthplace of Mallorca’s only saint: Santa Catalina Tomás.

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Sóller

Take a vintage wooden train over to the town featuring boutique hotels, fine dining establishments, and upscale shops. Beyond the luxury and affluent charm lies the humble story of a small town blooming in fragrant orange groves. Back in the 1800s, the town was isolated from the rest of the island due to its geographic location within the mountains. The native oranges were exported to France via Port de Sóller, where many of the locals were able to grow their fortune.

Today, the town is known for its Modernista architecture, adorneded with lively bars, cafes, restaurants, and museums home to work by artists including Kandinksy, Picasso, Warhol and local artists Miquel Barceló and Francesca Martí. In addition to its rich cultural scene, the city boasts a strong emphasis on the sciences, exemplified by its hosting of the Balearic Museum of Natural Sciences (Museu Balear de Ciències Naturals) and the Jardí Botànic, where visitors can explore Mallorca’s native plant species.

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Alcúdia

Alcúdia, located on the northern coast of Mallorca, is home to some of the island's most gorgeous beaches. Surrounded by an ancient 14th-century wall, the old town of Alcúdia offers visitors the opportunity to stroll along its length, and enjoy panoramic views of the village. Just outside of the walls near the Church of St. Jaume. North, are the remnants of a Roman town, including an ancient theater and bullring.

Within the old town you will find vibrant markets on Sundays and Tuesdays. The expansive 14 km beach at Alcúdia, extends to Ca'n Picafort, and nearby coves. The town is well known for the annual St. Jaume festival, a nine-day celebration in July, featuring traditional events like the Night of the Romans, outdoor theaters, sports tournaments, and a grand finale with fireworks and a philharmonic concert.

Alcúdia is a city painted in rich cultural activities, from al fresco dramatized tours to the internationally acclaimed Alcúdia Jazz Festival and various sporting competitions like the Ironman Triathlon. Additionally, the town's rich history is showcased in the Triennial of Sant Crist, a unique religious procession dating back to 1507, where those of the town walk barefoot through the streets.

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Santanyí

Santanyí is a vibrant town on Mallorca's southeast coast that offers a rich blend of cultural activities, natural beauty, and leisure options that cater to a variety of interests. In Santanyí, the heart of the town is its lively market, held twice a week. The market is a focal point for both locals and visitors where you can find everything from fresh produce to artisan crafts.

Santanyí appeals to many for its thriving arts scene. The town is home to numerous galleries showcasing the works of local and international artists. Exploring these galleries can provide insights into the rich artistic traditions and contemporary expressions within the region.

For those who enjoy outdoor activities, Santanyí is conveniently located near some of Mallorca’s most beautiful natural landscapes. The Mondrago Natural Park is just a short drive away, offering stunning scenery, hiking trails, and some of the island's best secluded beaches, such as S'Amarador and Cala Mondragó. Additionally, just a short journey can take you to places like Cala Figuera, a picturesque fishing village where you can watch traditional boats come and go, or to more remote beaches like Cala Llombards and Cala Santanyí, ideal for more quiet and intimate beach experiences.

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Market Trends and Buyer Insights

Increasing interest from American and Eastern European buyers

The buyer demographic is shifting as younger people are considering not just buying a second home, but plan to relocate permanently to the island with their families. Backed by 17 international schools, families are attracted to the healthy and safe lifestyle on the island. Mallorca's easy access and modern infrastructure are supported by Palma International Airport with direct flights throughout Europe to the US.

Investment in Mallorca’s Real Estate

"Many people re-discovered the island post-pandemic, so demand continues and there’s confidence in Mallorca’s real estate market which has a proven track record of providing solid long-term returns on investment. It remains a leading second-home destination in the Mediterranean and is increasingly being considered as a primary residence for families”

-Florian Hofer, Managing Director, Engel &Völkers Balearic Islands.


Interest in Mallorca's rural heartland

Engel & Völkers Mallorca sees a developing trend for property in the countryside and villages focused on traditional houses with modern-day comfort and amenities. Post-pandemic there has been a shift in thinking, as more and more clients want self-sufficient properties with eco-technology to save water and energy, as well as grow their own produce including wine, olive oil, fruit, and vegetables etc. An underlying respect for the cultural and natural heritage of the island drives these purchases which strongly focus on the authentic architecture and Mediterranean lifestyle of the island.


Pricing Trends

In 2023, nearly half of the properties in Mallorca were listed at 500,000 euros or higher, with a significant concentration of high-end properties in the southwest. This region attracts a discerning clientele, evident in the substantial percentage of listings above 1 million euros.


Luxury Real Estate Listing Spotlight

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Global Spotlight: Discovering the Charm of Mallorca with Engel & Völkers (2024)
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