The demand for exclusive holiday rental properties in Mallorca has outweighed supply in the last two years, according to Engel & Völkers.
Engel & Völkers, which is the leading international real estate agents in Mallorca with 17 property shops throughout the island, says demand from overseas for premium holiday rentals is on the rise, with holidaymakers seeking out hotel-style facilities by the sea or in private “hidden” locations in the island’s rural countryside.
To cope with the increased demand, Engel & Völkers has expanded its operations across the island. Luxury Collection Mallorca was launched in 2016 as a new holiday rental division of Engel & Völkers Mallorca Southwest to cater for the rising demand for ‘deluxe rentals’, while in the west of the island Engel & Völkers recently launched high end exclusive holiday rentals focused on the main areas of demand, including the picturesque villages of Deià and Puerto Sóller (or Port de Sóller).
The villas on offer in the new Luxury Collection Mallorca are predominantly located in Puerto Andratx and Camp de Mar. They range from five to seven bedrooms, with swimming pools and large terraces for outside dining and entertaining. In addition, they have a full range of additional services including personal concierge, private jet and yacht charter.
Rental prices for these villas begin from €12,000 per week, with some being let for €25,500 per week.
In the north of the island, meanwhile, Engel & Völkers has a long established holiday rentals division. This includes both short and long-term holiday lettings, with clients mainly seeking modern properties in areas such as Formentor Beach, Puerto Pollensa, Cala San Vicente and Playa de Muro.
The division, which was first founded eight years ago, now boasts a global client list, with weekly holiday rentals for luxury properties in high season beginning at €8,000-€48,000.
“We are now expanding the market to offer more exclusive rentals for holiday or longer lets,” Florian Hofer, managing director Engel & Völkers Balearic Islands, said.
“The rental market is an extension of our main real estate business and as we have the “know how” of handling wealthy individuals and understanding their needs, Engel & Völkers is ideally positioned to offer a premium service to these clients.”