After an excellent end to 2018, Charlie Hill, Partner and Head of Sales at Charles Marlow shares his insight into the property markets in Mallorca and Ibiza to look back at the year that’s just gone and forward to 2019.
What was your biggest takeaway from last year, Charlie?
It was certainly a year of highs and lows for the property markets in Mallorca and Ibiza, particularly in terms of clients looking to buy. We had a good start to the year but for about six months it went quiet. Because we work closely with all the top agents, we knew this was a shared experience as far as the property markets in Mallorca and Ibiza are concerned. But, in the final quarter, we had a big lift with record offers and new buyers.
On a practical level, we discovered that our videos are very successful. We’ll do more of these in 2019. They’re a great way to get across the personality and expertise of our team, which is a big focus of ours.
How will the lessons of 2018 influence the Charles Marlow approach in 2019?
The property markets in Mallorca and Ibiza in which we operate became even more competitive in 2019. But we’re also seeing that some agents who spend a lot of money on branding and marketing their company lack the knowledge and service to back up the impression they make. We know a great business is built on people, and the foundation of Charles Marlow is a strong, reliable team.
We’re also looking at more innovative ways to introduce clients to the amazing properties we have for sale or rental. Innovation is a key focus for 2019.
What does the landscape for the property market in Mallorca and Ibiza look like right now?
Last year there was a drop in the number of sales in the Balearics. This was due to owners demanding a high price and buyer confidence not being as strong as previously. The combination of buyers not being prepared to take as much risk as before and sellers leaving less room for movement in the asking price made the drop in sales inevitable. Now, though, sellers are more open to negotiate.
What trends do you predict for 2019 in the property market in Mallorca and Ibiza?
The prime luxury property market in Mallorca and Ibiza – homes costing €5m and above – will see activity heating up. This has been coming for the past few years but now we’re seeing an increase in enquiries for luxury homes as more and more people appreciate that they can live a luxury lifestyle in the Balearics.
Mallorca and Ibiza are maturing as luxury holiday destinations and places like Greece or Croatia just don’t compare. They can’t offer the same overall quality of life and services clients investing in luxury expect.
Properties with rental licenses will continue to be sought after. If our readers want to get a good overview of the situation with rental licenses, this is a great place to start.
What events happening in 2019 are likely to influence the property market in Mallorca and Ibiza?
Brexit will inevitably affect markets. But we’re not selling in markets solely reliant on UK buyers. Nor is there a surplus of stock. While there’s clearly some uncertainty over Brexit, we celebrated our best quarter for the past four years at the end of 2018.
The finite supply, linked with global appeal of Ibiza and Mallorca, gives us confidence that property markets in Mallorca and Ibiza will continue to stay strong.
How will Charles Marlow be evolving in 2019? Any big announcements?
We do what we do very well. So, while we have plans to make big changes to our approach, that isn’t something we see as the number one priority. As ever, we’re focused on excelling in client care and being a company people love to work with. This remains at the heart of every decision we make.
Our affiliate scheme was trialled last year and has been very successful. We’ve built strong relationships with agencies, wealth managers and members across Europe and USA in the past year. This is something we are looking to grow.
Could you tell me more about the affiliate scheme? How has it been very successful?
Companies with a client base of high net worth individuals interested in buying or renting a home abroad refer them to us. We’re the perfect extension to business and brands who’ve built their name on first class customer service. They know they can trust Charles Marlow and are happy to recommend us.
Charles Marlow has been around now for six years. What lessons have you learned in that time?
We’re all dedicated to creating a great lifestyle for ourselves and our close family through hard work. We’ve learned that enjoying what you do makes working hard a pleasure. Charles Marlow does everything we can to enable our team to enjoy their work.
Looking after our clients and being absolutely transparent are also key. We choose to live where we work. Mallorca and Ibiza are our homes. We wouldn’t do anything that would compromise us feeling welcome in and part of the communities we’re part of.
We’re also excited by the different ways technology and social media are changing the way the property market in Mallorca and Ibiza does business.
As an individual, what are your hopes for 2019?
I’m looking forward to growing, as an individual and as part of the Charles Marlow team. I’ll do everything I can to make sure I, and the team, continue to become the best version of ourselves we can be. This means clear, open communication with each other and our clients, and a respect for individual lifestyle choices.
Most of all, I’m very happy to be able to live the life that I do in the place I do. Mallorca and Ibiza are very special and, as people become less reliant on living in big cities, I’m sure we’ll see an increase in people calling these islands home. I want to share the love.
Will 2019 be the year you buy or rent a home in Mallorca or Ibiza? Email firstname.lastname@example.org or call +34 971 636 427 to find out more about our Deia and West Coast portfolio of dream homes. For Ibiza, email email@example.com or call +34 634 316 800.