Luxury housing market in Majorca is now more popular than ever. “I just sold two big projects in Son Vida: one was bought by a Czech, the other – by an Austrian. And they ordered five more villas from me. This is crazy”, says Carlos Segui, a real estate developer in Mallorca. He is not the only one baffled (and delighted with) the post-pandemic sales numbers. Experts agree: the real estate market is completely revolutionized.
Other reasons for the “boom” in premium housing are: good weather on the island, safety and gastronomy.
“Several years ago, Ruiz Gallardon built up the city. You walk along Calle Serrano and walk among the ruins. It was more difficult then to sell apartments, ”recalls Maria Isabel Esquivel, who has been in the luxury housing market for 18 years and whose fields of activity are Ieronimos, Almagro, Castellana, El Viso and Barrio de Salamanca. “Although he also gave a big push for the construction of parking lots [he built several ones under the Puerta de Alcalá].”
Today, the former mayor's construction fever is forgotten, and many foreigners are attracted to the city, which is open, safe and “very friendly” according to Esquivel. For example, in April last year, the most expensive penthouse in the capital was sold: 14.6 million euros for a triplex with an area of 750 sq. m. On Calle Montalbán with a terrace of 200 sq. m. The Buyer is a businessman from Central Europe.