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Residential real estate market on Ibiza: Prices for top properties continue to rise

  • Engel & Völkers releases latest market figures


Engel & Völkers, with two offices in Ibiza, reports a further 10% rise in prices last year for premium properties in prime locations. This represents an approximate price increase of 20% for top properties in the past two years. The number of sales transactions also increased in 2015 according to the latest Engel & Völkers “Ibiza Market Report 2016”. “Both our residential property shops closed with 30% more sales than in 2014. Moreover, the average sales price rose significantly and we sold properties to 15 different nationalities underlining the international appeal of the island,” reported Florian Fischer, Managing Partner of Engel & Völkers on Ibiza.

Island hotspot for luxury tourism

Ibiza is a popular holiday destination amongst celebrities and the wealthy international jet set and this strengthens the luxury tourism and premium property market on the island. The number of private jet flights to and from Ibiza rose by 8.5 percent to around 11,000 in 2015 and these annual statistics made it the top destination for private aviation in The Balearics. 

Ibiza’s marina, with mooring berths for superyachts upwards of 70 metres, has also established a reputation as one of the most exclusive marinas in the world. In 2015, Engel & Völkers brokered real estate to buyers from 15 different nations. The largest buyer group was from Germany, followed by Spain, the UK, France, Switzerland, Italy and the Benelux countries. Buyers are seeking homes both for private use and holiday rentals. “Prestigious villas and apartments in top locations are very easy to rent out in high season and present an attractive investment opportunity,” said Florian Fischer.

Top addresses for real estate investments on the island can be found in Ibiza Town and the surrounding region. Properties in the Old Town and along the Paseo Marítimo by the marina are particularly desirable. Apartment prices in these locations have risen significantly. Apartments spanning approx. 100 square metres at prime addresses are currently selling from 800,000 euros. In the immediate surroundings too, Engel & Völkers is registering increased demand for modern luxury villas and apartments. Current entry prices for villas spanning approx. 350 square metres in very good locations are around 3.5 million euros. Traditional farm properties in a similar size and location are selling for 2.5 million euros.

The south and southwest of the island are some of the most exclusive and desirable parts of Ibiza. These areas are popular with families looking for a dream home in relaxed surroundings. Both minimalist luxury villas and traditional farm properties command top prices on this market. This kind of property in a top location here costs upwards of 3 million euros. Prices for apartments of approx. 100 square metres in very good locations currently start at 600,000 euros.

The west of Ibiza with its rich variety of coastlines is growing in popularity. The airport, Ibiza Town and the finest beaches on the island are all easily accessible. The entry price for villas in prime locations is 2.4 million euros. Buyers can expect to pay at least 2.2 million euros for traditional farm properties in the same locations. Apartments spanning approx. 100 square metres in very good locations cost upwards of 500,000 euros.

The north of the island is prized for its authentic flair. Prices here are guaranteed to remain stable in the long term, due to the limited number of available properties and strict building regulations. The development of the road network between Ibiza Town and San Juan is set to make the region even more attractive. Prices for villas of approx. 350 square metres in premium locations start at 2.8 million euros. Traditional farm properties of the same size and location currently cost from 2.5 million euros.

In addition to holidaymakers and second home buyers, the east of Ibiza also attracts many first home buyers. It offers a wide variety of different landscapes, as well as broad range of properties, from luxurious homes with sea views to estates in rural surroundings. In general, the property market in this region has settled down at a stable level. Prices for top properties have risen significantly. However, in excess of 2.5 million euros is currently being paid for villas of approx. 350 square metres in top locations. For comparable farm properties, entry prices are approximately 2.2 million euros. Apartments of approx. 100 square metres in very good locations are on the market from 550,000 euros. 

Outlook: upward trend in the long term
Engel & Völkers forecasts that the positive development of the Ibiza real estate market in 2015 will continue in 2016 and this is largely due to the fact that properties in the most desirable locations on the island remain limited. “Ibiza will remain an international hotspot for properties intended for private use and holiday rental. The high demand for premium homes from abroad is bringing stability to the market,” Florian Fischer concluded. 

More information and detailed price tables can be found in the attached “Ibiza Market Report 2016” now available on: www.engelvoelkers.com/ibiza

This great news about the 2015 results had very strong repercussions in the Online press:

Diario de Ibiza: http://www.diariodeibiza.es/pitiuses-balears/2016/03/31/precio-casas-lujo-ibiza-crece/832309.html
IbizaDiario.info: http://www.ibizadiario.info/el-mercado-inmobiliario-de-lujo-mantendra-su-comportamiento-positivo-en-2016
LaInformación.com: http://noticias.lainformacion.com/economia-negocios-y-finanzas/construccion-e-inmobiliaria/inmobiliario-mantendra-Ibiza-comportamiento-positivo_0_903210036.html
EuropaPress.es: http://www.europapress.es/illes-balears/noticia-mercado-inmobiliario-premium-mantendra-ibiza-comportamiento-positivo-estudio-20160330112338.html
elEconomista.es: http://ecodiario.eleconomista.es/espana/noticias/7453555/03/16/El-mercado-inmobiliario-premium-mantendra-en-Ibiza-su-comportamiento-positivo-segun-un-estudio.html
PeriodicodeIbiza.es: http://periodicodeibiza.es/pitiusas/local/2016/03/30/184566/mercado-inmobiliario-premium-seguira-alza-eivissa-segun-estudio.html
GenteDigital.es: http://www.gentedigital.es/ibiza/noticia/1875905/el-mercado-inmobiliario-premium-mantendra-en-ibiza-su-comportamiento-positivo-segun-un-estudio/
Idealista.com: http://www.idealista.com/news/inmobiliario/vivienda/2016/03/31/741579-el-precio-de-las-viviendas-de-lujo-en-ibiza-sube-ritmo-de-dos-digitos
FranquiciasHoy.es: http://www.franquiciashoy.es/noticias/15024/segun-engel-volkers-precio-de-la-vivienda-sube-un-10-en-ibiza.html
elDigitaldeAsturias: https://eldigitaldeasturias.com/magazine365/el-mercado-inmobiliario-premium-se-mantendra-en-ibiza-de-forma-positiva/
Pisos.com: http://www.pisos.com/noticias/noticias/vivienda/el-precio-de-la-vivienda-de-lujo-sube-un-10-en-ibiza/

Engel & Völkers

Spain
Avda. Diagonal 640, 6ª planta A
08017 Barcelona Spain
Spain
Phone
+34935154455

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