Global Spotlight: Discovering the Charm of Mallorca with Engel & Völkers
Global Spotlight: Discovering the Charm of Mallorca with Engel & Völkers At Engel & Völkers, we're proud to serve communities in over 30 countries, bringing you local insights and global expertise to deliver unmatched, bespoke real estate experiences. Whether you're in the Americas, Europe, Asia, Africa, or somewhere in between, you'll find a connection with us. This month, join us as we explore the crown jewel of Spain's Balearic Islands: Mallorca. Sought-after Districts Palma If you’re looking for a city synonymous with luxury, look no further than Palma. Palma, the island's capital, not only offers a rich history of the arts, but offers a luxury experience unlike other cities on the island. From some of the most romantic five-star boutique hotels, Michelin-starred restaurants and Modernista buildings, to the Gothic cathedral La Seu and the booming art scene, the city of Palma is unlike any other on the Island. For any aspiring art-historian, Palma offers a handful of unique galleries and museums showcasing some of the most sought-after works of art that time has seen. Home to the Es Baluard Museum of Modern and Contemporary Art, the museum features works by Pablo Picasso and Miguel Barcelo, among other notable artists. In addition, The Fundació Miró Mallorca in Palma is dedicated to the work of the artist Joan Miró and offers a brilliant insight into the artist’s life and works. Valldemossa In the Tramuntana Mountains, and only a 15-minute drive from Palma, sits the antique town of Valldemossa. Sitting at the highest elevation in Mallorca, the village is recognized for hosting the Polish composer Frédéric Chopin and his partner, the writer George Sand, during the winter of 1838/9, leasing accommodations within the monastery during this period. If you find yourself dreaming about paying Valldemossa a visit, August is the perfect time to explore the city during the annual Chopin Festival, where you can experience world-class musicians performing his compositions. The charm of the village goes beyond the upscale retreat and boutique accommodations such as the romantic Hotel Valldemossa, encapsulated with fragrant greenery and stunning views. Valldemossa holds a rich, sacred historical aspect to the people of the Island, as it is the birthplace of Mallorca’s only saint: Santa Catalina Tomás. Sóller Take a vintage wooden train over to the town featuring boutique hotels, fine dining establishments, and upscale shops. Beyond the luxury and affluent charm lies the humble story of a small town blooming in fragrant orange groves. Back in the 1800s, the town was isolated from the rest of the island due to its geographic location within the mountains. The native oranges were exported to France via Port de Sóller, where many of the locals were able to grow their fortune. Today, the town is known for its Modernista architecture, adorneded with lively bars, cafes, restaurants, and museums home to work by artists including Kandinksy, Picasso, Warhol and local artists Miquel Barceló and Francesca Martí. In addition to its rich cultural scene, the city boasts a strong emphasis on the sciences, exemplified by its hosting of the Balearic Museum of Natural Sciences (Museu Balear de Ciències Naturals) and the Jardí Botànic, where visitors can explore Mallorca’s native plant species. Alcúdia Alcúdia, located on the northern coast of Mallorca, is home to some of the island's most gorgeous beaches. Surrounded by an ancient 14th-century wall, the old town of Alcúdia offers visitors the opportunity to stroll along its length, and enjoy panoramic views of the village. Just outside of the walls near the Church of St. Jaume. North, are the remnants of a Roman town, including an ancient theater and bullring. Within the old town you will find vibrant markets on Sundays and Tuesdays. The expansive 14 km beach at Alcúdia, extends to Ca'n Picafort, and nearby coves. The town is well known for the annual St. Jaume festival, a nine-day celebration in July, featuring traditional events like the Night of the Romans, outdoor theaters, sports tournaments, and a grand finale with fireworks and a philharmonic concert. Alcúdia is a city painted in rich cultural activities, from al fresco dramatized tours to the internationally acclaimed Alcúdia Jazz Festival and various sporting competitions like the Ironman Triathlon. Additionally, the town's rich history is showcased in the Triennial of Sant Crist, a unique religious procession dating back to 1507, where those of the town walk barefoot through the streets. Santanyí Santanyí is a vibrant town on Mallorca's southeast coast that offers a rich blend of cultural activities, natural beauty, and leisure options that cater to a variety of interests. In Santanyí, the heart of the town is its lively market, held twice a week. The market is a focal point for both locals and visitors where you can find everything from fresh produce to artisan crafts. Santanyí appeals to many for its thriving arts scene. The town is home to numerous galleries showcasing the works of local and international artists. Exploring these galleries can provide insights into the rich artistic traditions and contemporary expressions within the region. For those who enjoy outdoor activities, Santanyí is conveniently located near some of Mallorca’s most beautiful natural landscapes. The Mondrago Natural Park is just a short drive away, offering stunning scenery, hiking trails, and some of the island's best secluded beaches, such as S'Amarador and Cala Mondragó. Additionally, just a short journey can take you to places like Cala Figuera, a picturesque fishing village where you can watch traditional boats come and go, or to more remote beaches like Cala Llombards and Cala Santanyí, ideal for more quiet and intimate beach experiences.
NorthEast Florida Real Estate Market | April 2024
I hope you are doing well and excited about the evolving real estate market as we blaze through April. As we navigate these dynamic currents, it's essential to remain vigilant, informed, and adaptable. Whether you're a buyer seeking your dream home or a seller looking to capitalize on the market's momentum, there are opportunities aplenty for those willing to seize them. Let's take a look at the market trends to keep you informed and empowered in your real estate journey. Let's dive into the heart of the matter. The inventory of available homes is on a steady rise, marking the most active listings since December 2022. This surge in inventory provides buyers with an array of options to choose from, fostering a more balanced and competitive market environment. However, the increase in supply also raises considerations about potential price adjustments, which must be monitored closely in the coming months. Demand Dynamics and Sales Projection: Turning our attention to demand, the market remains robust, fueled by a steady stream of buyer activity and enthusiasm. Despite the rise in available inventory, closings have surged by an impressive 28% from the previous month, indicating sustained interest and purchasing power among buyers. Moreover, with 63% of sales falling within the $200k - $500k range and a notable increase in transactions over $1M, it's evident that demand continues to thrive across various market segments. Mortgage rates have seen a hike compared to last year, albeit showing signs of stabilization in recent months. The slight decline since the peak in October 2023 has stirred buyer interest, with many eager to secure deals before rates climb higher again. However, a recent inflation report has nudged rates upward once more, hinting at a potential resumption of the upward trend next month. Despite this, the market remains dynamic, offering both challenges and opportunities for buyers and sellers alike. Now, let's delve into some fascinating details about homes sold in March: Pricing Power: Amidst these fluctuations, it becomes increasingly evident that pricing the home correctly is crucial for maximizing returns and minimizing concessions. Homes that linger on the market beyond 30 days often receive less and may require additional concessions to sell. With this wealth of information at our fingertips, let's embark on this journey together, armed with knowledge, insight, and a sense of adventure. Here's to a fruitful and rewarding month in the realm of residential real estate! March Sales Snapshot: • 63% of sales between $200k - $500k (down from 64%) • 115 sales over $1M (up from 93) • 26% cash sales (down from 28%) • Sold to Original List = 96% (up from 95%) • 39% of properties had concessions noted (up from 38%) • Average noted seller concession was $9.8k (up from $9.3k) • New construction concession was $16.8k (up from $15.4k) • Existing home concession was $7.5k (up from $7.4k) • New construction was 25% of sales (up from 24%) Now, let's take a closer look at April so far: Market Snapshot: In April so far, the real estate landscape is characterized by dynamic shifts and intriguing trends. Key observations include. 55% of listings fall within the $200k - $500k range, reflecting consistency compared to the previous month. New construction listings account for 24% of active listings, showing a slight decrease from the previous period. Across all price points, listings have seen an increase compared to last month, particularly in higher price brackets. Condo listings have experienced a marginal decline of 0.5% compared to the previous month. Clay County has added more single-family listings to the market, indicating an expansion in inventory. In Nassau County, the average days on market have risen by 8%, from 78 to 84, underscoring the importance of strategic pricing and marketing efforts. Listing Performance: In terms of listing performance, the market continues to showcase resilience and potential. The bulk of listings, particularly those priced between $200k - $500k, are sitting just under 2 months on the market, indicating a healthy level of activity and interest. With 4,361 listings potentially priced "right," there's a notable increase of 347 listings from last month, suggesting an expanding pool of properties attracting buyer attention. However, it's worth noting that 41% of active listings are categorized as stale, mirroring the figures from the previous month and emphasizing the importance of strategic pricing and effective marketing strategies to ensure timely sales. We are here to support you whether you're considering buying or selling. Our role is to navigate the market landscape seamlessly, leveraging our expertise and commitment to stay informed. Don't hesitate to reach out if you have any questions or if you're ready to explore the exciting opportunities in today's dynamic market. Together, we can navigate these trends and secure the best outcomes for your real estate endeavors. We look forward to partnering with you and helping you achieve your real estate goals in 2024! Data provided by: Jax Luxe Group Real Estate Advisors Licensed Real Estate Advisors Lindsy Norse Cell: 904-962-1990 Email: [email protected] Caroline Knight Cell: 904-437-9186 Email: [email protected] Engel & Völkers First Coast 190 A1A N I Suite 1 I Ponte Vedra Beach I FL 32082 [email protected] I jaxluxegroup.evrealestate.com
The Island Issue
The Island Issue We are excited to welcome you to The Island Issue of GG Magazine. This new issue is all about the endless appeal of islands, featuring stories about individuals whose island lifestyles and enterprises never fail to inspire. From stunning boutique hotels and resorts to the vibrancy of cultures captured by world-renowned photographers, we welcome you to explore the stories that emulate the island dream. In this issue, we meet serial entrepreneur Sir Richard Branson for the opening of his new boutique hotel “Son Bunyola” in Majorca. In an interview about dreams, pioneering spirit and the thirst for adventure, we learn the story behind his entrepreneurial spirit and “never-give-up” mentality. Following is a section exploring the work of legendary photographer Slim Aarons, who captured the glamorous lives of the upper class in the Mediterranean and the Caribbean, followed by a look inside the colorful Manhattan townhouse of John Demsey, former Group President of Estée Lauder, who was forced to start over in his mid-60s. Finally, discover the luxury resort known as the “Bawah Reserve” located in Indonesia, rewriting the definition of peace via seclusion. Meeting Mr. Yes! In the heart of Mallorca, a new chapter unfolds in the story of Sir Richard Branson, the intrepid founder of the Virgin Group and a connoisseur of adventure. With the unveiling of “Son Bunyola,” his latest venture, Branson beckons us into an extraordinary world where the narrative is as captivating as the landscape. “Son Bunyola” stands as a beacon of luxury within the Tramuntana mountains, sprawling across a 520-hectare estate adorned with more than15,000 olive trees. Mallorca's essence is captured in every detail, from the meticulously selected décor to the furniture that echoes the island's soul, ensuring that the spirit of the Balearics pulsates through the veins of this majestic retreat. At its heart lies a 28-meter pool, born from ruins, symbolizing rebirth and the enduring allure of transformation. Yet, it is Branson’s personal journey that imbues “Son Bunyola” with its unique allure. His journey, initially fueled by the pursuit of a lost love, ultimately led him to a different kind of passion—a love affair with Mallorca itself. While fate may not have granted him the romantic outcome he once sought, it gave him a profound appreciation for the island, its beauty, and its capacity to inspire. Beyond the enchanting landscapes and luxurious amenities, “Son Bunyola” is a testament to Branson's life lessons—family, dedication, and the importance of patience. It embodies his belief that “The brave may not live forever, but the cautious do not live at all.” King of Mustique In this feature, the man behind the famous celebrity-studded getaway in the Caribbean opens up about the origins of the world-renowned Basil’s Bar. Born and raised on the neighboring island of St. Vincent, Basil Charles relocated to Mustique in 1971. With no roads, no electricity, and no places to go, it took quite some time before the lifestyle of the island began to improve. Working at the only hotel on the island, known as the Cotton House, Basil Charles took full reign over the hotel’s beach bar, which would soon become known as the infamous “Basil’s Bar”. Basil’s Bar became the epitome of Caribbean retreats, magnetizing A-list celebrities such as Mick Jagger, Kate Moss, and members of the royal household. It transformed into the quintessential location where the glitterati could moor their yachts, unwind, and savor the bar’s celebrated libations. Yet, Basil’s Bar is not characterized for attracting the affluent, famous, and exclusive; but rather for its focus on inclusivity. Basil cultivated a space where locals and tourists could coalesce, dance, and celebrate in unison, dismantling societal divides and nurturing a singular communal bond. The essence of Basil’s Bar lies not just in its illustrious guest list or its exotic beverages, but in the foundational principles of its creator: Basil Charles recognized that the true enchantment of his venture was its capacity to enrich lives by bringing individuals together. Slim Aarons - Eyelands In the era that followed World War II, a period where the world was rediscovering its vibrancy and zest for life, Slim Aarons positioned himself as the chronicler of the jet-setters, socialites, and those born into the lap of luxury. Through the five decades he spent behind the lens, Aarons transformed places like Mustique, Mykonos, and Capri, their fame and desirability magnified by his evocative imagery. "photographing attractive people doing attractive things in attractive places," Aarons’ ethos, "photographing attractive people doing attractive things in attractive places," perfectly distills the essence of his illustrious career. Transitioning from the stark realities of war photography to the pursuit of beauty, Aarons spotlighted the aspirational aspects of the post-war period. His prestigious contributions to magazines like Life, Town & Country, and Holiday unveiled the lavish lifestyles of the rich and famous, from Hollywood’s celebrities to European nobility. Today, Slim Aarons' legacy stands as a tribute to a bygone lifestyle defined by its unforced elegance and joy of existence. Aarons was more than a spectator; he was an architect of the mythos of mid-century glamor, a maestro whose symphony of images continue to inspire today. For all of these articles and more, you can view the full issue here. Enjoy your read.
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