Son Vida, the Beverly Hills of the Spanish island of
is a celebrity-chic cosmopolitan neighborhood in the fabled resort and capital city of Palma.
Since the mid-20th century, Son Vida, which is named for the Vida family that first bought farming land there in the 1500s, has been the summer playground of the well-known and the well-to-do.
“Today, it has become the place to be for many public figures and celebrities who want privacy and for whom discretion and security are essential,” said Gabriela Muñoz, managing owner, license holder of Engel & Völkers Son Vida & Palma Surroundings.
is bounded on the west by Calle Pinar-Park, on the north by the Ma-1016, on the south by the Ma-1043 and the east by Ma-1016 and Ma-1043.
The neighborhood has some of the island’s most exclusive estates, with prices ranging from €2.8 million to €65 million (US$3.29 million to US$76.34 million), according to Alejandra Vanoli, managing director of Mallorca Sotheby’s International Realty. She added that the €65 million property that is on the market now is the most expensive in the country.
Prices are pegged to the size of the property, the sea views and the location.
“Plots of land have also become increasingly more valuable, and they tend to sell quickly,” Ms. Muñoz said, adding that “a plot of 2,000 square meters with sea views can fetch up to €4.5 million (US$5.33 million), and one without sea views would go for around €1.5 million (US$1.78 million).”
Villas priced between €5 million and €13 million (US$5.9 million to US$15.39 million), she said, are in the greatest demand.
Roddy Aris, partner at Knight Frank, added that there are only two multi-family developments: Residencias Son Vida Golf and the Hoyo Tres. Penthouses in Hoyo can reach €2 million (US$2.38 million); in Son Vida, they go as high as €1 million (US$1.19 million), he said.
Son Vida’s housing stock is exclusive: There are only about 450 single-family luxury villas.
Typically, the villas are 6,500 square feet, and they are sited on lots of about half an acre. The majority of the properties are in the Mediterranean style, but “in the last 10 years, there has been a boom in modern houses with contemporary, minimal lines that now represent 20% of the overall stock,” Ms. Muñoz said.
These newer homes are high-tech and offer a variety of amenities ranging from spas and cathedral ceilings to designer bathrooms, cinemas and wellness areas.
What Makes It Unique
Palma’s most high-end residential area, Son Vida is surrounded by golf courses and exemplary scenery.
“At every point, either to the sea, the city or the mountains, the views are fantastic,” Ms. Vanoli said. “There’s also lots of privacy, space, and the area is well cared for.”
Ms. Muñoz noted that “for those who love the sea and the mountains, Son Vida provides the best of both, as from this area you can enjoy wonderful walks in the countryside, by the sea or through Palma’s old capital, all close by.”
With its natural beauty, wealth of activities and proximity to the city, Son Vida “has become the place to be or status symbol for the great international fortunes,” Ms. Muñoz said. “Clients who buy in Son Vida never leave. They may move house for reasons or views, but they always stay in Son Vida.”
Son Vida, which is exclusively residential, is about a 10- to 15-minute drive from the center of the city of Palma and all its shops, restaurants and cultural activities.
The brand-name luxury shops such as Louis Vuitton, Cartier and Rolex are on the main streets El Borne and Jaime III, Palma’s so-called “golden mile” that also features local luxury boutiques.
Residents have a varied choice of restaurants. The steakhouse Lume & Co., which is set in a historic 15th-century building, offers several kinds of beef, notably vaca Gallega, black Angus, carne de la finca and Wagyu, and is dedicated to what its website describes as “healthy Mediterranean gastronomy.”
Tast Club, which Ms. Vanoli calls “one of the best restaurants in Palma,” styles itself as an English club and serves everything from sirloin steak, burgers and duck to cocktails and cheesecake.
And Los Patos Restaurant has made a name for itself serving Italian/Swiss fare.
The city of Palma is a hub for art from around the world. There are several international galleries, including Baró Galeria, which is based in São Paulo, Brazil, and has locations in Madrid and Lisbon.
Fundació Miró Mallorca, a museum dedicated to the work of the artist Joan Miró, is in Palma as is Es Baluard Museu d’Art Modern i Contemporani de Palma, which showcases the work of artists from the Balearic Islands and of those who have worldwide reputations.
The Teatre Principal offers operas, and Paseo Maritimo, the promenade that runs along Palma’s seafront, is the site of popular concerts and theatrical productions.
There are numerous private international schools in the surrounding area that are about a 15-minute drive from Son Vida.
Queen’s College, which follows the British National Curriculum enrolls 400 students between the ages of 3 and 18. King Richard III College, a British school, has classes for students who are 3 to 18. Founded in 1950, Bellver International College is the oldest privately owned British school in Spain. The co-educational, Spanish-English bilingual day school is for students in pre-kindergarten through high school.
Meanwhile, Lycée Français de Palma is a French school for students in kindergarten through high school, and Baleares International College, a British-style school, enrolls students aged 2 to 18.
Who Lives There
Long the playground of the privileged, Son Vida continues to attract sports figures, Hollywood stars, royals and other celebrities in addition to Mallorca’s wealthiest and most well known families.
Noting that 70% of the residents hail from abroad, Ms. Muñoz said Son Vida is populated by cosmopolitan families, many of them from Spain, Germany and Britain. “Lately, there are more Asian, Arab and American buyers than in the past,” she said.
Englishman Steve McManaman, who is regarded as one of the greatest footballers of his generation, and his wife, Victoria, live in Son Vida as do entrepreneur Drew Aaron and his wife, top model Hana Soukupová, who are among the world’s top art collectors, according to published reports.
Former world-tennis champ Ana Ivanovic and her husband, former German international footballer Bastian Schweinsteiger, also reportedly make their home in Son Vida.
With 2021 producing a “booming” residential market, Ms. Muñoz said that high demand and limited supply will continue to fuel Son Vida’s brisk sales.
“This year to date, sales have more than doubled in relation to the total sales of the last ‘normal’ year in 2019, and demand is increasing daily, and we still have the last quarter of 2021 to go,” she said. “This year, sales transactions in Son Vida have broken all records.”
By June, she said, the number of completed sales matched those set in each of the full years of 2017, 2018 and 2019.
“The total value of the properties sold so far this year is double what is sold in a normal year,” she said. “This indicates the upward trend toward larger properties, and this is reflected in the sale of different properties ranging from €20 million, €12 million and €10 million, and the large number of sales of properties between €4 million and €8 million.”
She noted that expectations for the future of the market are high. “We believe that this year will close with a further 30% increase in sales, thus closing the year with an increase in sales volume of 150%,” she said.
Original posted at www.mansionglobal.com