Because of the situation in the Middle East: Dubai too dangerous! Super-rich storm Mallorca

Palma – Luxury holidaymakers are turning their backs on Dubai and heading for Mallorca. It is the Iran war and growing concerns about the security situation in Middle East holiday paradises such as Dubai and Abu Dhabi that are drawing travelers to the Mediterranean. According to BILD information, the booking numbers and the number of arrivals of private jets have increased noticeably compared to the previous year. Mallorca will be bursting at the seams again by the Easter holidays.

Iran war causes Mallorca demand to rise

Mallorca luxury brokers also get this Marcel Remus (39) can be clearly felt. Customers who actually wanted to invest their money in penthouses in Dubai or who had planned their Easter vacation in the Gulf region are reorienting themselves. The Balearic Islands are particularly in demand Mallorca and Ibiza.

Remus says to BILD: “Less than 48 hours after the crisis broke out, I received an incredible number of inquiries from potential new customers who had actually booked Dubai or Abu Dhabi for Easter and Pentecost and have now canceled that. Now everyone wants Malle again!”

Luxury villas in Mallorca for up to 100,000 euros

Remus reports: “In addition to the increased demand for purchases, the demand for luxury villas to rent is also through the roof.” In the meantime, prices of up to 100,000 euros per week are said to have been quoted for such villas on Mallorca. Individual finca agents report an increase in demand of up to 25 percent. Yacht charterers also report in Luxury segment a clear plus.

Mallorca under pressure from luxury boom

The sudden rush raises questions. Is the island prepared for the shock in the Middle East hotspots of the rich? Space in Mallorca is limited. The cost of living and rising rents have been a thorn in the side of many locals for years. The demand for luxury that has grown as a result of the Iran war could therefore cause additional dissatisfaction and, above all, rising prices.

Mallorca remains different from Dubai

Will Mallorca now be the new Dubai? Experts in both regions say no. The luxury destinations in the Gulf region and the Mediterranean differ fundamentally. Dubai and Abu Dhabi represent speed, growth and prestige. Mallorca focuses on deceleration, closeness to nature and a Mediterranean quality of life. The strong demand effect from the rich from the luxury Gulf states, who are always looking for new superlatives and low taxes, is unlikely to last long on Mallorca, despite high security and excellent infrastructure.