Mallorca Special: From vacation to residence
In this article, I share some impressions of how, thanks to Covid and modern technology, some vacation homes have now become a second home or even "main residence" for many. The example of Mallorca, where I was able to interview some part-time or full-time residents and brokers on a trip.
In the past, the division was still simple: Those who could afford it had, in addition to their main residence in or near the big city, a weekend domicile in the countryside and some the vacation home in the sunny coastal regions of Spain, Portugal, Italy or Greece. In recent decades, the USA, South Africa and Dubai have also been added as destinations.
Just recently, the development of vacation ownership has taken a decisive turn: Increasing digitalization, modern telecommunications including the Internet, and flexible travel options have created a new layer of buyers interested in longer stays and amenities designed for longer-term living:
So fully equipped apartments and villas with modern home and telecom technology, open indoor and outdoor spaces and enough storage space for year-round comfort.
The Covid pandemic now accelerated the use of digital remote communications and the acceptance of teleworking and working in one's own home office. As some interviewees have confirmed to me, new opportunities are opening up for many self-employed and business people to now use a suitably developed and equipped vacation home as a fully-fledged "home" and "office". My clientele includes a number of entrepreneurs who, thanks to a good Internet connection and the same or similar time zone, conduct their business from Mallorca, South Africa or Madeira. And enjoy the sun, garden and sea view the rest of the time.
What the most sophisticated clientele has been practicing for quite some time, this second headquarters is a top-down trend that will become prevalent for more wealthy segments.
Required for these "second prime homes" are ...
modern, fully equipped real estate with ...
more spaces, green areas and work areas
with fluid concepts of home and vacation home, where families increasingly divide their time between two or more locations.
A trend that has come to stay.
What do you think?
If a second residence or second domicile is of interest to you, we will be happy to support you from Austria, as a search broker who will locate specific properties for you on site according to your criteria.
Otherwise, thank you for your comments and feedbacks and see you next time!
Dr. iur. Andreas Bonschak, LL.M.
licensed real estate trustee (broker)
Managing Director SUNSET IMMOBILIEN
