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REAL ESTATE

Mallorca Real State Summit: 3rd edition

They say that getting there is easy – staying there is the difficult part. The 3rd edition of the Mallorca Real Estate Summit held at the Castillo Hotel Son Vida is proof of this. Getting your first sponsors, your first speakers or your first attendees can be simple – getting them to come back, being able to hang the sold-out sign or having people ask you when the next edition will be shows how successful your event has been.

The day began well – no holding anything back for later. The presentation given by Judit Montoriol, Chief Economist of Caixabank Research, set the bar high, giving data and figures analysed with precision and a pedagogical effect, allowing us to get a clear and certain overview of the current situation, based on the recent past and the parameters that point to the near future. Judit’s explanations were easy to understand, full of rigor and captured the audience’s attention in each section of her speech.

Judit Montoriol

It was not easy for the next speaker, Jordi Castiñeira, Deal Advisory partner at KPMG Spain, to follow that act. However, Jordi picked up the baton, took advantage of the data and presented his vision of the situation brilliantly. He showcased the present and future of Real Estate from the perspective of one of Spain’s most important consultancy firms, with rigor and clear criteria.

Jordi Castiñeira

Future ideas

The day was underway, and cruising speed was set. The multisectoral dialogue offered by the first panel was promising. Hans Lenz, president of Abini and a deep connoisseur of the sector, would act as the unifying thread, bringing out the best in every speaker.

Marta Vidal, Minister of Habitat, Territory and Mobility, didn’t fail to impress – she never does. She comes from the private sector, knows the market inside out and has not forgotten her roots. Neither has she lost her smile, or her ability to say things with passion and a hearty sense of humor. She faces a huge task with plenty of optimism, despite being aware that new legislation must be passed to mitigate the problem of access to housing. Changes in use, increasing height in certain buildings or offering public land to build affordable housing on are just a few of her ideas.

These proposals were well accepted by Luis Martín, president of the Balearic Islands Association of Promoters, who praised her work and stressed the need to improve understanding with the Government.

Omar García, Director of Real Estate Business at Caixabank, offered his vision of the sector representing the financiers that make real estate projects possible. He brilliantly explained how the government need to provide land so that prices can drop. And he opened a very interesting debate by explaining that all real estate projects can be funded, but not always via traditional bank financing.

Javier del Hoyo, Head of Tax at KPMG in the Balearic Islands, spoke about this issue and explained what options were on the market. He analysed the fiscal changes promoted and was satisfied with the measures, although he stressed that they are aimed at demand and there are not enough that focus on supply (builders and developers).

Data and figures on financing, mortgages and taxes were shown in the subsequent dialogue. Hans Lenz led the discussion and got the numbers flowing, backing up the speakers’ opinions.

From left: Hans Lens, Marta Vidal, Luis Martín, Javier del Hoyo, Omar García

Architecture and interior design

Then came one of the most long-awaited moments of the day. The conversation between Sergio Bastidas, from Bastidas Architecture, and Rolf Blakstad, from Blakstad Arquitectos, about new traditional architecture, did not disappoint at all. Natural Majorca and Ibiza, free from additives, but full of preservatives. Preservatives of the essence, of the tradition of offering authentic modernity, which can appreciate and value the secrets hidden in a farmhouse in La Garriga. Bastidas and Blakstad work with high-level clients, but not only economically. Their work is aimed at knowledgeable, hardworking people, who can appreciate the detail of a restored stained-glass window, a century-old beam, and the reed that covers the roof. They avoid artificial, ostentatious materials. They take pleasure in searching for the property’s soul, by playing with light and shadow, as their predecessors have done for hundreds and even thousands of years. They work with craftsmen who uphold the crafting traditions of their master ancestors. They adapt properties to their clients and their clients to properties. This is the new traditional architecture.

From left: Sergi Bastidas and Rolf Blakstad

After this conversation came the monologue of Enrique López, President and Founder of Caledonian, a company with unique projects and constructions. Enrique is an engineer, but with the soul of an architect. His portfolio is full of luxury properties, but his homes are free from opulence, noise and ostentatiousness. His constructions are highly practical, seeking excellence, sophistication, and aesthetics. Luxury comes from the materials he uses, the finishes he achieves by being involved in the entire property creation process and the professionals he works with to achieve his goals. He wants his houses to age well. Caledonian’s branded properties are now a benchmark, and a guarantee of quality.

Enrique López

Caledonian is not yet present in Majorca but aspires to be soon. Meanwhile, Pep Verger moderated the panel that looked beyond our island, because as he explained, there is life beyond our shores. Elena Jori, Director of Real Estate at Home Select, told us about her experience of the Madrid market, dominated by Latin American clients with very high purchasing power. They feel confident and appreciate what the capital has to offer.

This was reinforced by Bea Silveira, one of the sector’s leading interior designers. In such a large market, she is able to add value to the properties she works with by making them personalised, warm and livable. Design to serve the customer, and design to make the person who is going to live in the house happy. It is the end of the process that puts the icing on the cake that they have all created together.

Sergio Espadero, Consulting and Valuation Manager of the Tecnitasa Group made his mark on this project, in the legal, technical and urbanistic review of the house or construction. He explained the importance of having a full house survey, rather than just a simple valuation.

From left: Pep Verger, Elena Jori, Bea Silveira, Sergio Espadero, Enrique López

Consulting, construction and real estate specialisation

The event was wrapped up by Xisco Vila, CEO of the Arabella Group and Manager of emblematic properties including our host, Castillo Hotel Son Vida. With his help, they explained who they are, what they are like and what customers are looking for in the Balearic Islands.

Cristina Deutsch, from Engel & Völkers, like most of her clients, came to Majorca on holiday and ended up making the island her home. Her Majorcan style comes with a German accent, and she was proud to show off Majorca and its treasures at a recent congress she attended in the United States.

Mariana Muñoz, founder of Terraza Balear and now a partner of Gunni Trentino, knows all about treasure. She offers her customers plenty of treasure in the houses that she decorates, dresses, and crowns. Her treasure is not false gold, but carefully crafted wood, quality materials made by local craftsmen. They have managed to create a brand that inspires trust and offers their customers security. Their success is not in the supply, but the service they offer.

But before adorning the house, it must first be built, and Estel Ingeniería y Obras are in charge of doing this. CEO Antoni Ballester spoke proudly about what they do – creating spectacular second properties that become dream homes. Luxury homes, carefully automated and fitted with acute attention to detail. Sustainable, efficient and automated homes. Their portfolio also includes more affordable properties, which do not compromise on the quality of the finish.

Jaume Mairata, from Industrias Mairata, has gone from manufacturing windows for the local market to designing spaces for customers around the world. Their business model has been overhauled due to high new demand. Different expectations demand different solutions. Top quality service and maximum after-sales care. Offering quality materials, design and installation. To ensure that the European customers’ Majorcan properties are even better than what they live in back home. They work with people, with professionals who have been in the company for many years, accumulating experience and knowledge.

From left: Xisco Vila, Cristina Deutsch, Mariana Muñoz, Antoni Ballester, Jaume Mairata

The report on Premium Residential in the Balearic Islands prepared by Tecnitasa and presented by José Antonio Muro, Group General Manager, and Luis Díaz, Balearic Islands representative, offered a magnificent overview of the top-level real estate sector.

Download the report by Tecnitasa

Another key milestone of the day was the presentation given by Susana Campuzano, Managing Partner of Luxury Advise and Director of Strategic Management of the Luxury Universe Course at the IE Business School. Her talk on luxury is luxury in itself. Speaking simply and clearly, Susana was able to address concepts to understand what luxury is and what it represents today. How it has evolved and how it has moved from former ostentation to current experiences and emotions. Exclusivity, quality, innovation and creativity, but also tradition and craft, detail and care.

From left: Luis Díaz, José Antonio Muro

Susana Campuzano

A brilliant way to finish

To round off the day, attendees were treated to a dialogue between two of Spain’s most beautiful cities, through the words of Gema Igual, Mayor of Santander, and Jaime Martínez, Mayor of Palma. To balance them out and add to their pride, they were moderated by Jesús González Pérez, Professor of Geography and Head of Urban Studies at the UIB, who was able to get them to express their opinions on gentrification, tourist rentals and new urban coexistence models. Mayors talking about politics for the people of their city, for their fellow citizens, those they meet at the market or have a coffee with. Very interesting indeed.

From left: Jesús González Pérez, Gema Igual, Jaime Martínez

We cannot summarise this day without mentioning the companies who made it all possible, even if they did not participate directly in the panels or the round table discussions. The support of Construye Capital, Domus Vivendi, Almacenes Femenías, Mallorca Design District and Audi Center Palma was key to making the Mallorca Real Estate Summit a roaring success. Their sponsorship and involvement are fundamental and helped make this event so successful.

We must also mention the Borbalán and Grup Serra, teams, who discreetly and professionally allowed the event to take place satisfactorily, making the work of speakers and moderators much easier. Our thanks go to all of them!

This was how the 3rd edition of Mallorca Real Estate Summit went. More than interesting, very necessary, and apparently almost essential, given how much interest was sparked.

While we bask in the success we achieved, we will now start working on the next edition. The bar is set high, but we will no doubt soar right over it.