"The Balearic Islands in Spain: Once a party hotspot, are growing up"

Ibiza and Mallorca have long been associated with parties and glamour. Now, as more and more people move there permanently, the Balearic Islands are becoming more peaceful, as reported by Charlie Hill, co-founder of the luxury real estateagency Charles Marlow & Bros.

With the influx of families to the islands, more wealthy buyers come, who appreciate the artistic heritage and natural beauty of the islands more than their parties," Hill told Mansion Global. "You have a lineage from people like poet Robert Graves and artist and sculptor Joan Miró to today's creative individuals. This culture is still strong," he said.

The emerging alternative school system also attracts customers with children, he added..

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Hill's brother, Patrick, is a partner at Charles Marlow, whose three offices specialize in distinct markets around the islands off the eastern coast of Spain. "On the western coast of Mallorca, which is under UNESCO protection, there are stone facades and access to the sea," Hill said. "In Ibiza, there are modern homes. In Andratx, in the Tramuntana mountains, there are super villas. And in Formentor, Mallorca, we see branded residences, such as the new Four Seasons."

Hill spoke to Mansion Global about how wealth is changing the Balearic Islands, what ultra-luxury buyers are looking for now, and why true luxury means having time and space.

MG: Do most of your buyers move to the Balearic Islands, or are they investors?

Charlie Hill: This is not driven by investments. It's more of a lifestyle choice. It's good that our locations have international appeal. There are business connections with London, and many Scandinavians prefer this place. In recent years, there has been interest from the US, but much more so lately. People are telling us that COVID, remote work, and the unrest in the US are reasons why they want to bring their children here.

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MG: What does a luxury buyer look for in Ibiza or Mallorca?

CHX: A luxury buyer is looking for a pool. They want privacy. They want a house with at least five bedrooms and, preferably, a guest house. The biggest difference for them is access to the sea, but there are only a couple of such places. Sea and sunset views are a big deal. And people absolutely want move-in ready properties with high-quality finishes. This is what hinders the advertisement from flowing freely. Such houses exist, but they are not on the market. What is available needs renovation, yet still has a high price.

MG: What preferences do you see among your luxury buyers when it comes to materials?

CHX: Buyers love the style of a farmhouse - homes with stone cladding that are traditional but feature modern interiors and elements like micro-cement floors. Many clients also request custom furniture. There are several suppliers here, such as Moredesign, an architectural design firm that also selects furniture and decor.

MG: Has the influx of wealth in recent years changed everyday life in the Balearic Islands?

CHX: The landscape is changing quickly. There are still authentic places where you can find more affordable food, but that is changing rapidly. There are now many high-end restaurants here. There has always been a wide range of outdoor activities.

MG: Does Ibiza still live up to its reputation for parties?

CHX: Not just Ibiza; Mallorca also has that identity. But anyone who turns the corner of the coast and sees Deia [Mallorca] will be amazed. If your idea is to party, you’ll be in for a pleasant surprise. A large part of this scene has moved to the daytime, with a different audience, including families. Due to the number of people moving here, there is a year-round community. It’s more of a meeting of minds around things like regenerative agriculture - people looking for different ways of living than before. Of course, there are still people having fun. But this is where development is heading. We are a place of free thinking, and the party scene was originally built on community.

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MG: More and more alternative schools are appearing in Ibiza and Mallorca. Does this attract buyers?

CHX: This has definitely become a factor. It used to be seen as something unusual, hippie. I have a daughter, and I want her to express herself fully. The education system doesn't allow children to adapt to the rapidly changing world. Many business leaders and serious players support these alternative schools. [Ibiza Self-Directed Learning School] The Learning Project is based on the American model.

MG: What are your forecasts for the market?

CHX: There is a feeling that the market has reached its peak. However, the western coast of Mallorca and Ibiza are seeing a 10% increase every year. With high demand and low supply, it's hard to imagine that this will change without a significant shift in the global economy. Recently, we sold homes priced between 16 to 20 million euros (17 to 21 million dollars). I have a client considering a property worth 60 million euros. Before Covid, we might have seen four or five inquiries over 15 million euros a year. During Covid, and after it, that's one a week. These are serious clients, and this is where they feel comfortable investing their money.

MG: What is your personal definition of luxury?

Luxury is the time and space that can be spent with family, and the environment that allows me to be present with family and friends.