PROPERTY MARKET REPORT
The Balearic Islands real estate market has been one of the best performing markets in Europe since the 1990s. Ibiza has always been a very attractive island for investors, but in recent years we can see an even higher increase in the number of investors in Ibiza looking for property for sale in Ibiza.
the demand for real estate in Ibiza is only increasing
Between 2022 and 2023, property sales in Ibiza have only increased. The property market in Ibiza has proven over time to be a safe haven for investors, which is why more and more investors are looking for property for sale in Ibiza.
Ibiza is a tourist attraction for holidays, but for a number of years this island has also become attractive for a longer stay. The demand for long-term rental is therefore increasing. Nowadays, many people can work hybrid and choose to go to warm and sunny Ibiza. Because Ibiza offers fast fiber optic internet connections, hybrid working is much easier and more attractive. In addition, air connections between Ibiza and major European cities have improved significantly, making it easier for people to visit the island and even take the step of moving to the island for a longer period of time.
There is an increasing demand for long-term rental.
There are few offers from homeowners wanting to sell their property in Ibiza.
Homeowners in Ibiza know that they will never lose as much money on their property as if they leave it in their bank account or rent out their property with high rental income. Homeowners know that the value of their property increases annually and continues to increase. A valuable investment in the short term and a valuable asset in the long term. These are the main reasons why property prices in Ibiza will continue to rise in 2024.
Ibiza real estate market
As mentioned earlier, the real estate market in the Balearic Islands is very profitable and attractive for investors. Property prices in Ibiza continue to rise. In particular, the luxury property market in Ibiza has always been more resilient than that of the neighboring islands and mainland Spain.
Since the pandemic, sales inquiries in Ibiza have doubled. After the pandemic, people and investors have seen that things can be done differently. Nowadays people can work hybridly, which is perfectly possible in Ibiza. Many people are therefore looking for a piece of real estate that can be rented out for a longer term. Many people also choose to invest in a second home, so that they can get away from it all regularly. The amount of real estate investment has also doubled. Due to the high demand for renting real estate, an investment is more profitable than ever.
In the luxury housing market in Ibiza, most municipalities show price increases per square meter between 2020 and 2022. The forecast for 2024 is that there will also be slight price increases per square meter.