Ibiza Property Market On Fine Form

Ibiza’s real estate market has witnessed significant growth to date this year, appreciably ahead of its last peak of 2,455 transactions in 2017. Sant Josep de Sa Talaria, Sant Joan de Labritja and Ibiza Town registered the largest increases; Sant Joan de Labritja, in particular denoting a healthy 45% increase in transactions compared to the previous year.

Increasing demand across the luxury segment (principally detached villa estates) from European and domestic buyers, is one of the principal factors contributing to this stellar performance. The island’s stunning scenery, world-class beaches and exciting nightlife attract buyers and investors from across the globe. Properties in Ibiza come in many different styles, from traditional fincas and turn-key contemporary homes offering high rental yields and room for capital appreciation. Remote employment and historically low mortgage rates are two further contributing factors.

While it's normally easier to secure a mortgage on a new build property, the fact that second-hand properties typically come fully-furnished and fitted makes the buying process much easier.

New properties are naturally in a better condition than existing ones, but for this reason usually cost more. The inevitable deterioration of previously owned homes enables more room for price negotiation. That said, in general, the upkeep of a traditional property makes them more expensive in the long run.

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