Transformation of Mallorca’s real estate market

Transformation of Mallorca’s real estate market

Departure into a sustainable era: The transformation of the Mallorcan real estate market.

The transformation of the real estate market in Mallorca is characterized by ecological sustainability, social compatibility, and mindfulness towards the island’s unique environment. The Corona crisis has shown how dependent Mallorca is on tourists and how this tourism exacerbates environmental problems. Addressing these challenges means reshaping the Mallorcan real estate market, and this is well recognized by the responsible persons at ETERRA Iberia SL.

Mallorca, the stunning island in the Mediterranean, is facing a transformation in the real estate market. The Corona crisis has not only revealed the devastating effects of tourism but also underlined the urgent need for a sustainable approach. The ETERRA Group is committed to setting a new standard for sustainable real estate projects, with innovative approaches and a strong focus on environmental friendliness and local integration that shape the market. By using local materials and techniques, for example, ETERRA not only contributes to the preservation of Mallorca’s cultural identity but also establishes aesthetically appealing and modern housing standards.

The reality of the Corona crisis: A wake-up call for Mallorca’s real estate market

Long before mass tourism became a pressing problem in European cities, Mallorca was already synonymous with an overflowing travel industry. The Balearic Islands are fighting against the phenomenon of “Balearizaci?n,” a development that prioritizes short-term profit over sustainability. Despite intense tourism, many locals believe that Mallorca’s wildness still has the power to amaze visitors, especially outside the densely populated coastal areas. The painful experience of the Corona crisis has brought life on Mallorca to a virtual standstill. The usual millions of tourists who keep the economy running suddenly became a double-edged sword. While they are essential for the economy, they burden the environment with scarce water reserves, air pollution, and rising rents. This has led to a rethinking, and calls for sustainable tourism are louder than ever.

Pioneers of sustainable tourism and real estate development

The vision for Mallorca’s sustainable future is ambitious. Toni Riera, a pioneer in this movement, an economist at the Palma University, and head of the research foundation Impulsa, aims for a regenerative tourism model that puts value change and circular economy at the center. A transformation that breaks the old concept of success and highlights shared values. A network is emerging that is based on rethinking and holistic approaches – from better pay to consideration of scarce resources.

The measures are specific: digitization to manage tourism, promotion of renewable energies and sustainable mobility, renovation of sewers and sewage treatment plants. The first green hydrogen factory was opened in Lloseta, while agricultural areas are being reconnected to the coast to improve water drainage.

The sustainability initiatives also include better marine and environmental protection, innovative ecological economy, less dependence on tourism, higher quality in the tourist offer, and urban regeneration. A new tourism law is being debated in parliament, limiting the number of daily cruise ships in the port of Palma and promoting the exchange of guest beds for adjustable ones. Hotels must develop circular economy plans in the coming years to reduce resource consumption.

The objective of the Santa Ponca office of ETERRA Iberia SL, “The Circel,” is to ensure a sustainable presence in the Spanish real estate market. It is the intention of ETERRA to redefine the market through innovative and sustainable methods. Visionary and Managing Partner of ETERRA Iberia Founder, Sven Bading, makes it clear that it makes no sense to always strive for more, faster, further. It is necessary to understand how we should behave in all areas to ensure our future security. “The beauty of the Balearic nature belongs not only to one generation but also to all future generations,” Bading says. With ETERRA’s real estate projects, local materials and techniques are used to preserve Mallorca’s cultural diversity while establishing contemporary housing concepts.

Promoting local integration and social responsibility

An outstanding feature of the ETERRA philosophy is the conscious integration into the local community. Projects are not only planned and implemented but are the result of intensive collaboration with local craftsmen and the involvement of the community in the development process. This approach ensures not only economic viability but also broad social acceptance.

Innovation and technology: sustainable real estate market

ETERRA goes beyond conventional real estate development by integrating innovation and technological progress. The use of virtual reality in the planning phase and the implementation of smart home technologies set new standards for the comfort of residents and also contribute to reducing the ecological footprint. Virtual property tours break down the barriers of analog reality and take digitalization to the next dimension. Sven Bading, Managing Partner of the ETERRA Group, points out that the use of virtual reality in the planning phase and smart home systems in finished projects propels companies to a new level of progress.

The immersive experience for potential buyers is enhanced by customizing the property to their preferences. With a simple gesture, furniture can be replaced, wall colors and floor textures can be changed, and entire walls can be virtually hidden. Bading says the potentials are enormous and, at the same time, an interest in alternative financing concepts arises: What would the property look like with a conservatory? With a sauna? Or if this wall was turned into a glass facade? VR technology allows customers to experience what they couldn’t imagine before.

“Our use of VR technology allows us to guide customers through their future apartments before the first stone is laid,” says Sven Bading, visionary and managing partner of Eterra Iberia SL. Virtual tours not only provide a glimpse into the future but also enable seamless transfer of once created VR models to other service providers once the purchase is made. This supports not only new construction but also expansion or remodeling of a property with virtual construction plans.

Architecture firms and construction companies are increasingly relying on VR plans in their planning, which not only increases efficiency but also promotes a sustainable approach. By avoiding unnecessary on-site visits, resources are conserved, and the “green footprint” is enlarged. Virtual reality in the real estate sector is, thus, not only a technological revolution but also a contribution to an environmentally conscious and more sustainable future.

A glimpse into the future: Mallorca as a pioneer for sustainable real estate

The vision of the ETERRA Group goes far beyond its own real estate development. As active participants in shaping the future of Mallorca, they are involved in local initiatives and events. Their goal is to position Mallorca as a sustainable and innovative real estate market.

Mallorca has set a clear course for a sustainable future to preserve not only the beauty of the island but also its uniqueness for future generations. In a time when environmental, social, and mindful challenges are particularly present, the ETERRA Group not only shows that change is possible but also sets a standard for the entire real estate industry in Mallorca. The island’s real estate market is entering a new era – an era that focuses on sustainability, local integration, and technological innovation.

Author: Daniel Slenters

Keywords:Mallorca, transformation, real estate market, ecological sustainability, social responsibility, environmental awareness, Corona crisis, tourism dependence, environmental problems, ETERRA Iberia SL