Engel & Völkers launches the commercial division in Majorca

Engel & Völkers has decided to apply the successful strategy carried out in its residential area to the tertiary sector and to promote the business line specialised in the purchase and rental of premises, hotels, offices and apartment complexes in Mallorca.

Engel & Völkers Commercial Majorca responds to the high demand of investments

“There is great interest in residential investment in Palma and the south-west of the island, as well as in hotels and apartment complexes in good locations”, reports Jana Fodor, Director Engel & Völkers Commercial Majorca. Already more than 100 active search customers show the high demand for investments there. Engel & Völkers Commercial Mallorca is now focusing on the market with an initially small but highly experienced team of real estate experts for all questions relating to commercial property.

The market share in the real estate business with foreign customers is currently just under 30 per cent. The majority comes from Germany, Austria and Switzerland, followed by interested parties from Great Britain and France. “The foreign customers are convinced of the stable price development and the long-term value increase potential of the real estate location Majorca as a safe haven”, emphasises van Moock.

Engel & Völkers Commercial Majorca: International network

In addition to local contacts, the Commercial Team Majorca also relies on the exchange with the international network of Engel & Völkers Commercial. The first joint customer contact between Engel & Völkers Commercial Majorca and Engel & Völkers Commercial DACH has already taken place. Regular participation in the virtual meetings of the E&V sector experts is now also standard practice in order to take news and developments from the markets with them. 

“For the customers of our entire network, this opens up additional investment opportunities with a very experienced team in Majorca, which we are very much looking forward to”, emphasises Dirk Beller, Head of Commercial DACH-Cz & Denmark at Engel & Völkers Commercial. In the period from January to October 2020, Engel & Völkers generated a total transaction volume of 320 million euros in Majorca despite strict legal Covid-19 restrictions. Engel & Völkers closed the previous year with a transaction volume of 470 million euros.

About the team

Jana Fodor has worked for over ten years in senior positions in private banks in London. She specialised in real estate investments and real estate financing, among other things. Rene van Moock has worked for many years in the Balearic Islands at various Spanish banks and most recently was branch manager on Mallorca. With Giovanni Morello, a specialist in hotel consulting completes the team. He has 26 years of experience in the field of luxury hotel management and has accompanied various luxury hotel openings worldwide.