25 Years of Local Real Estate Expertise: Interview With Iris Grünewald, Founder and Managing Director of Balearic Properties
In 1999, German Iris Gründewald and Mallorcan Antonio Fuster founded Balearic Properties, a leading real estate agency on the island with offices in Pollensa, Alcudia, and Puerto Portals. Coming from a family with a heritage in real estate, Iris graduated from the European Training Center for Real Estate before moving to Mallorca, proving her passion for the industry. Over the years, they have remained true to their values and have become true experts in the independent real estate market in Mallorca.
Balearic Properties (BP) was founded 25 years ago, what significant changes have you observed in the real estate market in Mallorca since then?
In the course of these 25 years, Mallorca has established itself as a secure property investment location. It has long overtaken the French Côte d’Azur as the number one property hotspot in the Mediterranean. Property buyers from all over the world are fascinated by Mallorca’s versatile and beautiful landscape, the mild climate, and super friendly locals. The laid-back lifestyle appeals to many serious cash buyers who can escape their hectic, career orientated lives for a while to immerse into a totally different, cooler way of living. The property market has therefore experienced an enormous boom, particularly post Covid, as people are spending their funds rather than keeping them in bank accounts.
What is the secret behind the long-term success of Balearic Properties?
The success of Balearic Properties has been built up continuously throughout the years. This success is based upon various factors: hard work and complete dedication to the business, just to name 2. At BP we know that dedication to our clients, no matter the budget, is imperatively important likewise, to communicate in their language! For us clients are both property owners and potential buyers alike. The product is just as important and at BP we have built up an impressive portfolio all over the island. One of the major secrets is the talent to match the client with the perfect property for him or her. Listening to the clients’ visions and wishes and knowing the property portfolio inside-out are important factors for successful property sales and subsequently the company’s consistent success.
What services does Balearic Properties offer and what do you do differently to win the International European Property Awards for best real estate marketing and best real estate website in Spain for three consecutive years?
BP offers a complete from “search start to notary” service to our clients. Over and above this, once they have become proud owners of a Mallorca property, we also offer them a superb property management service, tailored to their needs and our rental department can help the new owners generate an income by renting the villa or finca. Our marketing and website are looked after by dedicated and innovative professionals who are of course supported by the BP team with regards to property movements, and any relevant information that needs launching on the web. Our IT colleagues are experts regarding Google ranking, SEO texting, and they are always reinventing areas of the web and re-designing it with their innovative ideas.
What advice would you give to newcomers looking to navigate their careers in the real estate industry?
As a newcomer to Mallorca, spend time discovering the island, learn about the island you have come to live on, mix with local people and not only expats of your nationality and very importantly: learn the language as soon as possible. Be prepared to work longer hours than you have been accustomed to be open-minded in order to be able to deal with the different nationalities that you will have contact with. Get to know locations and properties, so you know what you are talking about. You should also focus on building a strong knowledge of the legal and financial aspects, develop a reliable network of contacts, this network need not be big and stay on top regarding new market trends.
As a leading real estate firm in Mallorca, how do you perceive the value of collaborating with Lionsgate Capital to optimize each client’s real estate investment in Spain, and how does this partnership enhance the overall experience for your clients?
The collaboration with Lionsgate Capital is an important aspect of our business and client dealing. Lionsgate Capital enables the company to offer solid, bespoke financial solutions and propositions, thus facilitating property sales. Lionsgate Capital enables our clients to afford the property of their dreams. Our deep inside knowledge of the Mallorcan property market successfully merges with the Lionsgate financial expertise. We can offer our clients expert advice on financing options that may include more favourable terms or innovative payment structures not available in the general market. This again provides a smoother and stress-free purchase process. Throughout this process, Lionsgate Capital works alongside us to ensure all financial aspects are clearly understood and professionally managed. This means clients can enjoy the excitement of purchasing a new property, knowing that all financial details are in expert hands. This collaboration adds to the success of BP.
You are a real estate professional who graduated from the European Training Center for Real Estate, what do you think about the regulation of real estate agents in the Balearics?
I think that is very important to ensure that only professionals can work in this industry. There have always been people coming to the island who do not have a clue about the island and the property scene just wanting to make “a quick buck” by selling properties. These people tend to give our industry a negative image. The regulation will hopefully put an end to this negative trend and help to protect clients and the integrity of the island’s real estate market.
What are your top 3 recommendations for individuals looking to purchase a property in Mallorca?
- Set your budget with the purchase costs also in mind.
- Be sure about the location where you want to buy and the exact property type.
- Go to professionals like BP who will guide you through the complete purchase process.
With offices in Pollensa, Alcudia and Puerto Portals, how different do you see the real estate market in the North of Mallorca compared to the South?
The real estate market in Mallorca showcases differences between the north and south, reflecting the diversity and broad appeal of the island. The north of Mallorca, with areas such as Pollensa and Alcudia, is famed for its more tranquil and rustic atmosphere. The north features stunning landscapes, mountain scenery and serene coastlines, perfect for those seeking an escape from the daily hectic, ideal locations for holiday homes or peaceful retreats. Buyers looking for a property in the north are attracted by tranquillity and a closer connection to nature and traditional local culture.
In contrast, the south of the island, offers a faster and cosmopolitan pace of life. This region is perhaps the economic heart of Mallorca, known for its vibrant nightlife, high-end restaurants, luxury boutiques, and modern amenities. The south attracts not only tourists but also a diverse population of buyers, including investors looking to capitalize on the constant flow of visitors and permanent residents who wish to be close to urban comforts and world-class infrastructure. Areas like Calvià and Puerto de Andratx offer a cosmopolitan, jet set lifestyle which appeals to wealthy, international investors.
How do you see the Mallorca real estate market in the next few years?
Mallorca’s popularity will continue and increase. The island is a beautiful safe haven for investors and families looking for a second residence or holiday home. Easy and uncomplicated accessibility from all major European airports guarantees the steady flow of visitors and property owners know they can switch homes without any hassle. Mallorca’s popularity also guarantees that prices will also rise gradually throughout the years, another major attraction for future buyers. They can purchase here in the safe knowledge, that their investment will never lose value. The resale market will always be lively, more so perhaps due to possible environmental restrictions that may affect the new home building market. The luxury, high-end property market in Mallorca is very strong and a stable source of fantastic income. High-net-worth buyers are drawn to the island and are snapping up luxury villas at an enormous pace. Prospects on Mallorca real estate market are underpinned by its appeal to both tourists and wealthy buyers, the island’s commitment to sustainable development and enhanced infrastructure. These are some factors that create a favourable environment for investment and ensure that property in Mallorca remains a profitable and desirable choice.
What is your favourite Sunday plan in Mallorca?
Visiting the local market and following the island tradition of having an extensive lunch with the family. Catching up with emails etc. and generally preparing for the coming working week. Depending on the season and weather, taking the kids to a beach.
Interview by Juanita Casanas
Co-founder and President of Lionsgate Capital
Juanita’s goal at Lionsgate Capital is to create unparalleled solutions for the most demanding clients and create value through service, making Lionsgate Capital the major player for financing in the Balearic Islands and mainland Spain.
