14/04/2013 00:00
TW
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MAJORCA is destined to become the haven for some of the wealthiest people in the world as demand for 10 million euro-plus houses on the island grows.
This week, to mark his real estate company's 20th anniversary and to meet the recent rise in interest in multi-million euro Majorcan properties, Matthias Kühn launched his new “Premium Selection”, a portfolio of properties ranging from ten to 50 million euros which have been personally selected by Kühn who, with his assistant Carolin Osterkamp, will be personally handling all premium clients.

Kühn told the Bulletin this week that few destinations in the world can match Majorca for location, climate and, what he and his wealthy clients consider paramount, security.

Recently he has been contacted, for example, by millionaires and business tycoons selling up in South Africa because of growing security fears. He also maintains that Majorca is “chic” again. “From Spain to Russia, the rich and powerful are coming to Majorca,” he said but added that, while the island is blessed with the multi-million euro properties such clients require, the island as a whole needs to make a greater effort to service the luxury market. “The island has the infrastructure, airport, climate and access everywhere else in the world is trying to copy, but the standards of service could be improved and, for example, the selection of luxury commercial and restaurant facilities could be better.” As well as some of the marinas. “The island could also improve winter season activities,” he said. “The island could also do with a top-quality boarding school - not only for the millionaire market but also wealthy Majorcans who are sending their children to Britain and the United States. These are all the things top of the market clients take into consideration.” “Majorca could become the luxury Florida of Europe.” Kühn, however, is confident Majorca, as a place to live as opposed to holiday, has the edge over most destinations, in particular emerging locations such as Dubai. “I think Dubai is very much an investment speculation location, it is early days, but most Europeans are going to find it hard adapting to living there. Croatia and Turkey are going to offer Majorca with some stiff competition especially at the bottom end of the holiday-home market but, while property is cheaper, neither destination can offer the infrastructure, services, health, and security Majorca can,” he said.

Kühn's new Premium Selection is going to be aimed at two markets.
The existing Spanish, German and English sectors and the emerging Russian, Arab and French markets. “Eastern Europe is going to be a new market which has already set its sights on Majorca,” he said, “and some of these people are the wealthiest in the world and these people could form part of the future of Majorca. “The eastern Europeans are moving to London, Munich and Paris, they are all just a few hours flight away from Majorca,” he said.
Kühn admits that he has invested a great deal of time and money in this new and exclusive venture, which offers “serious” clients the use of private jets, helicopters, chauffered limousines and luxury yachts to explore the island and view premium properties. With 20 years of experience in the Balearics, he believes the island is going to become Europe's playground for the world's millionaires.