Mandy Fletling

Mandy Fletling, Owner of Living Blue, talks to TBY about the vibrant real estate sector on the island of Mallorca.

What is your assessment of the challenges and opportunities in the Mallorcan market, in particular with regard to investments?

Given the abundance of real estate options available on the island, the challenges lie in navigating through the vast array of options to find the best fit. Extensive research is essential. Additionally, there are important legal considerations; it is crucial to engage with a real estate agency that provides accurate legal information. Legal requirements can vary significantly between countries, and regulations may evolve over time. Therefore, it is imperative to take a holistic approach when addressing legal consideration. The challenge lies in making well-informed decisions by thoroughly examining all relevant factors. Finding one’s ideal property poses another challenge. Moreover, financing is a key aspect, especially given the fluctuating interest rates. It is vital to assess whether financing through a mortgage is the most advantageous option. Each individual must evaluate these challenges accordingly. Regarding opportunities, investing in Mallorca offers a compelling prospect. Throughout our extensive experience in the real estate market, prices have consistently appreciated, with the exception of the 2008 crisis. Thus, investing in Mallorca historically yields positive returns. Despite occasional concerns about affordability, property values have consistently risen. Even properties that we have sold multiple times have shown significant appreciation in value.

How does Living Blue set itself apart to attract investments and stand out among other businesses in the sector?

Our business model is unique within the island’s real estate sector. Unlike franchises, Living Blue operates independently with five strategically located offices. This autonomy allows our team to freely navigate the entire island without geographical constraints, typically associated with franchise-based operations. As a family-owned company, Living Blue promotes seamless collaboration across all five offices, without the agents having to share their fees which leads to limiting their motivation, thereby enhancing the quality of our service delivery.

With the rise of remote work and other lifestyle changes following the pandemic, how have property investment preferences shifted in Mallorca, and how has Living Blue adapted to these trends?

The pandemic has led to an influx of remote workers seeking a change in lifestyle, with many individuals opting to spend extended periods in Mallorca while maintaining remote work commitments. While this trend existed previously, albeit on a smaller scale, the pandemic has underscored the viability of remote work, prompting a surge in demand for properties conducive to this life. Our clientele predominantly seeks rustic estates, ideal for families seeking spacious accommodations amidst nature. These properties provide ample space for families to reside comfortably while enjoying the island’s natural beauty. Living Blue has adapted its approach by enhancing our digital presence, embracing marketing and social media platforms, and incorporating video presentations to cater to the evolving needs of this market segment. We even sold several properties via video presentations.

Investor profiles have evolved significantly in the last few years. How would you characterize the current investor profile in Mallorca today?

Living Blue has observed a diversification in the nationalities of our investors, particularly with a notable increase in international clientele. While German investors remain prominent, we have noted a surge in clientele from a variety of countries, including Poland, France, the US, and Canada. Mallorca’s status as an international destination has attracted a more diverse investor base, previously dominated by European nationals.

Golden visas are expected to disappear within Spain. What impact do you foresee this having on investor interest in Mallorca?

Mallorca has historically attracted investors even without the existence of a golden visa incentive. Therefore, we do not anticipate a significant impact on investor interest following its elimination.

What emerging areas, currently undervalued, should potential investors consider, and why?

Emerging areas in the island’s central region present promising investment opportunities. These areas offer relatively lower property prices compared to mountainous regions, which are scarce and poised for appreciation. Investors can capitalize on the potential for growth and affordability in these central areas, making them attractive for both investment and residential purposes.

What other factors should investors interested in buying a property in Mallorca take into account?

Investors should consider logistical factors such as accessibility, particularly in areas accessible via commercial flight routes and road networks. Additionally, assessing infrastructure development and regulatory frameworks regarding construction regulations and legal requirements are crucial for well-informed investment decision-making. Living Blue advocates for strategic partnership with one or two reputable agencies to streamline the investment process and mitigate stress. Given that many properties are non-exclusive, engaging with multiple agencies can lead to confusion and inefficiencies. Additionally, conducting thorough due diligence and meticulously selecting properties are essential steps in making sound investment decisions.