Christian Völkers, CEO/ Founder of Engel & Völkers AG, is the proud owner of a 500-year-old finca property on Majorca. It is an estate with a sprawling land plot, a pool built into the cliffs and its own polo field. Wine is grown in the property’s own private vineyard, and olive oil is also produced here locally. In an interview with the Swiss newspaper Schweizer Sonntagszeitung, Christian Völkers reveals just what Majorca and his island home mean to him (interview excerpt):
“It is possible to sell virtually any property actually – so long as the price is right. Although generally speaking it is true that the brokerage of larger-scale properties is more elaborate and requires a certain amount of experience. We are talking about very special properties though, of which there are only a handful here on Majorca.”
What are your buyers looking for?
“A house by the sea that is simple to manage, easy to keep secure, and doesn’t give them any cause for headache. A place where they can simply enjoy everything that makes Majorca so special. Classic villas for in the region of four to ten million euros, and traditional finca estates at the centre of the island are selling very well on the island at the moment.”
This house is worth considerably more though …
“Let me put it like this: large country estates all cost in excess of ten million euros. Then there’s the cost of renovation work. Prices for properties like this one lie in the region of forty, fifty million euros.”
Are there any ordinary mortals among your clients too?
“Yes, of course! We like selling properties like these, but it is not how we do the majority of our business. The focus of our marketing activities lies on properties with a seven-digit price tag, but we also broker homes that are more moderately priced. And the exciting thing about Majorca is that there’s the right property on the market for almost every interested buyer.”
How often are you here?
“Normally we live in Hamburg throughout the year and travel to Majorca in the school holidays. But this year we have taken the children out of school for six months. They have lessons here instead. We are living in an apartment in Palma and travel to our finca at the weekends.”
Might it be possible to buy this home?
“No, no! This house will never be up for sale. I bought it 28 years ago. Back then it was an absolute ruin. The investment was, and still is, a very long-term one. It isn’t a holiday home either. It is simply our home. We live here. Do you know anyone who would sell their soul?”
Your dream home?
“Yes I am in the fortunate position to have found my dream home. And although I travel all around the globe with my work and get to see the world’s finest homes, I am always glad to return to this place. I was just incredibly lucky to have been around at a time when houses like this were not yet in demand. A simple gravel track led up to the property back then, and the land was the scrap heap for the local village.”
Is it still worth investing on Majorca?
“It is of course extremely difficult to peer into the future. But at the moment there are no signs that prices are set to stagnate or even fall. On the contrary. For the last 18 months we have seen a colossal rise in demand.”
How can Majorca remain so popular for such a sustained period?
“Demand comes from around the world. We have Americans here, we have Europeans, Asians. And for this large group of people drawn to Majorca, the number of interesting properties on the market is very limited.”