The Ibiza property market is hotter than ever. The positive growth of the market on the island will be sustained over 2019. Now let’s see what are the 3 key aspects of this hot market.
High demand from national and international buyers
Ibiza benefits from a strong international demand, buyers from different countries are looking for a permanent or second holiday home on this beautiful island. For the first time in a decade, Spanish buyers are the second largest group, followed by buyers from UK, Netherlands, France, Switzerland, Italy and Germany.
Luxury tourism industry still flourishing
Ibiza is also seeing a continuing boom in the luxury tourism sector. Private air traffic increased again last year, and Ibiza continues to lead the way as the Balearic island handling the most private flights. Moreover, Ibiza has evolved into one of the most desirable yachting ports in the Mediterranean. The former ferry terminal has been extended once again, meaning that in the future there will be even larger moorings for super-yachts.
Increase of the entry prices in prime locations
One of the highly desirable area for residential property on the Balearic island is Ibiza Town and its surrounding areas. Redevelopment of the centre has been completed last year, enhancing the exclusivity of the area along with the completion of new luxury hotels. Residential property prices in Ibiza Town and the surrounding area have already risen sharply since 2016. Other sought-after residential areas can be found in the south and southwest of the island. Properties here go from contemporary designer villas to traditional old farmhouses. The area is known around the world for its upmarket beach clubs and its variety of nightclub activities. If you want to know more about the increase in the luxury property market, check out our previous blog.