Celebrity Status of Balearic Property
Have celebrities become a major factor that has influenced the popularity of property in the Balearics and their prices?
Mallorca is a second home for many A- list celebrities including Antonio Banderas, Melanie Griffiths and Phil Collins. This island is extremely varied and a lot of Hollywood stars, musicians and sportsmen have found an ideal home in this idyllic Mediterranean location.
The valley of Soller is one of the most beautiful places on the island appreciated by many celebrities. One of them Annie Lennox owns a property there. It is situated in the middle of the Sierra de Tramuntana mountain range, on the west coast of Mallorca. The area around Soller is stunning, dominated by the impressive "Puig Mayor", mountain - the highest mountain in Majorca. Several kilometres away is situated the beautiful Port de Soller (Puerto de Soller). With its enclosed bay and mountainous backdrop it is true to say that property for sale in Port de Soller (Puerto de Soller) certainly commands the higher prices on the island. Rod Stewart and Penny Lancaster have visited Port de Soller recently where they enjoyed a low key lunch. Attitude towards celebrities is well known in this area, as they can enjoy privacy being completely ignored by the locals who are used to celebrities holidaying there.
A five bedroom finca in Soller would reach a price of around 1,000,000. However, properties for sale in and overlooking the Port de Soller are considerably more expensive.
Close by is the village of Dei, built on a hill in a valley in the middle of the Serra de Tramuntana mountains on the north west coast of Mallorca, around half an hour drive from Palma and 10km from Sller. Above the valley towers the "Teix", the second highest mountain on Mallorca. This town and its surroundings are trully beautiful, it is therefore understandable why the property for sale in Deia commands such huge demand.
Making the most of this additional revenue, Deia has managed to facilitate tourists without becoming commercialised. There are a few small shops, restaurants and hotels, although entertainment is unsurprisingly hotel-based.
Many cultural figures have become residents of Dei over the years, including Princess Diana, Bob Geldof and Andrew Lloyd Webber. Recent celebrities that purchased in this area include Anna Friel and Pierce Brosnan.
Property in Dei is relatively difficult to come by, due partly to its exclusivity and partly to its understated beauty, simplicity and tranquillity. A typical three bedroom property for sale in Dei itself will therefore be priced at around 1m and upwards.
Five minutes drive from Deia is Valldemossa, a beautiful town surrounded by mountains. It is particularly famous for the Royal Charterhouse of Jesus of Nazareth, which was built in the fourteenth century and later became the home of such celebrated people as Chopin and his lover, George Sand in the nineteenth century, as well as Nicaraguan poet, Ruben Dario. Sand's book, 'A Winter in Mallorca' tells of the awful time the author spent on the island.
Valldemossa, due to its mountainous location, is particularly popular with walkers and there is both a hostel and a superb hotel in the area, as well as a lovely restaurant. Catherine Zeta-Jones and Michael Douglas own a property nearby and became the real ambassadors for this wonderful location as well as Mallorca as a whole. Guests of their famous house include Jack Nicholson, Danny de Vito and Woody Allen.
There is a real sense of community here, only disturbed by the hoards of walkers which come through in the summer months. Nevertheless, Valldemossa has managed to retain its individual style and boasts some beautiful properties, for those who would like to make their home here.
A location as unique as this demands high property prices. A five bedroom finca for sale in Valldemossa can easily reach over 2m.
One of the main celebrity hot spots on the West Coast is Port Andratx, one of Mallorca's principal tourist destinations, somewhat of a millionaire's playground; Andratx village itself is steeped in history, with pretty cobbled streets, its thirteenth century church and Son Mos castle.
Port Andratx (Puerto de Andratx), a sheltered horseshoe bay, has its own marina, which is predictably cluttered with extremely expensive yachts. Also, it has to be said that the property for sale in Port Andratx (Puerto de Andratx) is of an extremely high quality with a price tag to match. Originally an old fishing village, the port itself, however, is more genuinely Mallorcan, still playing host to numerous local fishing boats whilst alongside the waterfront, you will find upmarket shops, cafes and restaurants. This mix of modern, upmarket facilities and traditional Mallorcan tradition and style is a real winner with both tourists and residents. There are a plethora of large villas and private swimming pools in this area. Indeed, celebrity residents include Claudia Schiffer, Tom Cruise and Michael Schumacher, who have all fallen under the region's spell and have decided to buy a property in Port Andratx (Puerto de Andratx).
Properties here range from luxury apartments to principally individual, beautifully styled villas with pools. Apartments tend to be priced just under 1m, whilst villas generally range in price from around 1.5m to way over 3m. In recent years, many investors looking for property in Andratx have taken the opportunity of purchasing old village houses with plenty of character, transforming them by sympathetically integrating modern appliances and styles. In many cases, significant profit has been made on resale. However, for those who looking for ready to move into accommodation, both Port Andratx and Andratx itself offer some beautiful properties, fit for a king.
Another famous port very close to the capital City is the marina of Portals Nous. Puerto Portals is a hangout for celebrities, fashionistas and those who want to be seen. Although there is a small, pretty beach here, the focus is very much on the marina itself, with large ships and expensive yachts moored here. Many sporting events take place at Puerto Portals, including yacht races and vintage car exhibitions. One of many celebrities easy to spot there is Peter Stringfellow whose yacht is moored there.
There are of course a number of upmarket cafes, bistros and restaurants in the resort. The shops too are filled with designer labels and objets d'art. The downside to this glitzy lifestyle is of course that there is no Mallorcan character about the resort, as it is so modern. However, if it is simply warm sunshine and a luxurious lifestyle you're after, than buying a property in Puerto Portals could be just what you need.
A resort as exclusive as this will of course demand high property prices; there are a number of new developments and villas for sale in Puerto Portals all of which cost several million euros.
The capital of Mallorca, Palma is a bustling yet cultural city. Indeed, almost half of the total population of Mallorca live in Palma. The Spanish Royal Family have been regular visitors to Mallorca where they spend much of the month of August staying at the Marivent Palace on the western outskirts of Palma recently visited by Michelle Obama. The King of Spain, Rey Juan Carlos I is also a frequent participant in various regattas in the Bay of Palma.
Such a vibrant European city as Palma attracts young professionals and the wealthy both Spanish and international. For this reason, property prices are very high. A front line villa in Palma, for example, with four bedrooms, overlooking the Bay of Palma, will normally fetch in the region of 2m.
Manacor famous for its tennis player Rafael Nadal, dates back to Roman times. The town itself is well-known for the manufacture of both furniture and artificial pearls. Pearls have been created in Manacor since 1897 and can be bought in the busy street market, held every Monday morning.
Due to relatively recent interest in the region and a developing tourist industry, investors are taking the plunge and buying property in Manacor, with an eye on achieving an excellent return on investment over the next decade. Rafael Nadal, the recent Wimbledon champion was born there and owns a green-roofed, solar-powered house in the area.
Many new houses and villas are being built for this purpose. A newly-built villa in Manacor will now set you back several million euros.
Another rural retreat is Arta, nestled in a large valley, at the foot of a small mountain. Few tourists make it to this remote destination, and there has been very little commercialisation. For this reason, Arta remains very much a traditional Mallorcan village, steeped in history. There is a nod towards the fishing industry here, although the port is mainly used to dock sailing boats and yachts.
Although Arta is a residential village rather than a tourist resort, however, the facilities here are still excellent. There is a pedestrianised main street with shops, bars and restaurants as well as an impressive sports centre with indoor swimming pool and a recently-opened large theatre and cinema. German Wimbledon star Boris Becker purchased property in this beautiful location.
A typical village house with two bedrooms is priced on average, around 500,000, whilst a more substantial, four bedroom finca or country house, is more likely to be priced in excess of 850,000. Balearic estates are working closely with real estate agents and architects to meet the criteria of the most demanding clients.
The famous home for celebrities such as James Blunt, Jade Jagger and Lisa B is of course the third largest of the Balearic islands, Ibiza that lies approximately 79km off the Spanish coast, with its closest mainland neighbour being Valencia. A popular tourist destination, the more southerly part of the island has, for several years been associated with young adults and the clubbing scene. Further north, however, you could be in a different country altogether. This part of Ibiza, which stretches for over 220 square miles, embraces a much slower paced, more rural, traditional lifestyle. Indeed, the Spanish Tourist Office and the island itself are now shedding Ibiza's somewhat unflattering image and becoming more family-focused.
Ibiza now have some of the best European architects, including Jean Nouvel, whose flats overlooking the harbour near Ibiza town sold out off plan for a record 8,500 per square metre. It doesn't surprise anybody considering the fact that Naomi Campbell and Kate Moss regularly spend the whole summer there and is easy to spot Sienna Miller and Jude Law clubbing there recently. On the whole Ibiza house prices have increased by 15% recently due to its reputation with celebrities. It is easy to bump into Leonardo Di Caprio while sunbathing on one of its sandy beaches.
When you are thinking about Ibiza it is difficult not to mention Formentera, a popular holiday destination for Giorgio Armani and Shakira. This island is situated six miles south from Ibiza and is only 12 miles long, meaning wherever you are on the island, it's a safe bet that you'll be able to see the sea. With its breathtaking coastline, white sandy beaches and numerous coves, it is a haven for tourists and is renowned for welcoming naturists all done in the best possible taste of course!
The constant population of this tiny island is around 5,000 people, which increases substantially in the summer, when tourists flock across the sea from Ibiza, which is the only way to reach Formentera.
The Balearic chain is actually comprised of over 50 islands, many of which are uninhabited. Together with Formentera, Ibiza makes up the "Pine Islands", situated on the western Balearic archipelago, which has been populated since 654BC.
Despite its small size, Formentera is by no means lacking in facilities and there are certainly enough shops, bars and restaurants to avoid needing to leave the island to stock up.
Because land is scarce, property prices are unsurprisingly high, with little change from 1.7m for a four bedroom house. However, its reputation as a quiet, unspoilt and stunning island means that should you choose to buy a property in Formentera, you may well see a substantial return on your investment upon sale. Philippe Starck adores it and spends his summer here, although he managed to divide his time between Mallorca recently, designing the famous marina of Porto Adriano.
Have celebrities become a major factor that has influenced the popularity of property in the Balearics and their prices?
Celebrity Status of Balearic Property
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