The Balearic island of Mallorca, known to holidaymakers primarily for its coastline and sandy beaches, also offers a thriving rural heartland that has become the focus for numerous investors in recent weeks. This trend is underlined by the Spanish real estate portal Fotocasa, which reported that since the lockdown, the search volume for properties with terrace or outdoor space increased by 40% in Spain.
The desire for more individuality in real estate is confirmed by Engel & Völkers Mallorca, with over 18 real estate shops across the island. Thus, international Internet inquiries for real estate with gardens, terraces, or land rose significantly. "Life at home is more important to us than ever. In the last few weeks, we've had about 20% more internet inquiries for rural properties in the centre of the island, with prices ranging from 500,000 to 10 million euros. Some customers plan to grow their own fruit and vegetables or produce their own olive oil and wine", says Christina Deutsch, Managing Partner Engel & Völkers Mallorca Central.
Gary Hobson, Managing Director of Engel & Völkers Mallorca North, also says that although internet inquiries were slightly lower than in the same period last year, inquiries for rural property in late April/early May were shooting up; "There is a clear shift in people's long-term plans. Some of our clients intend to settle in Mallorca for a longer period of time, and not just to enjoy the island during their holidays". Reiner Fischer, Managing Partner of Engel & Völkers Mallorca Northeast, sees a similar situation: "Perhaps our clients have also had the opportunity to think more intensively about their investments, which has led to a higher level of serious inquiries than before in the last two months."
Thus, the independent market research company Casafari LCC registered an average increase in the supply of estates and properties of almost 22% compared to the previous year, while the supply of other types of property remained unchanged. This suggests that some sellers may have recognized this interest as a selling opportunity.
Demand for local and organic products
Mallorca's fertile soil leads to the abundance of most crops, from oranges and lemons in the Sóller Valley to vegetables and soft fruits in the plains around Campos, to the old olive trees planted along the dry-stone terraces of the Sierra Tramuntana. Vineyards stretch all over the island with over 60 wineries producing over 300 different types of wine.
Farm your own land
Miquel Rodriguez of "Hortus Domi" offers a comprehensive service for the creation of vegetable gardens with organic products. Over 35% of his customers are foreigners and he has observed a steady increase in the past year in the number of customers who want to grow their own organic fruit and vegetables and thus become more sustainable themselves. His offer includes a graduated service, ranging from a simple "starter package" to assist in setting up a garden from scratch, taking care of the land and collecting seasonal plants for the customer. www.hortusdomi.com
Buy a sample of Mallorca online
Various local suppliers not only supply around the island but some even export to the whole of Europe, such as "Fet a Soller". Their most popular products bought by overseas customers are oranges, lemons, olive oil, and almonds: www.fetasoller.com. In the Manacor region - when the lockdown began - a cooperative of five farmers launched their new online service and was encouraged by the positive response to offer seasonal fruit and vegetables all year round: www.terragust.com.
The Balearic Islands - A safe haven in the Mediterranean
Florian Hofer, Managing Director of Engel & Völkers Balearic Islands: "Our internal research shows an increased interest in rural living. We believe that this will be a long-term trend for investors looking for a "safe haven" in the Mediterranean. The Balearic Islands is one of the regions with the lowest number of Covid-19 cases in Spain, and we currently expect to see national and international visitors again from July onwards when many airlines will resume their summer schedules.
