Ibiza property market information
In the last few years, we have seen that the Ibiza property market has grown tremendously, especially by buyers who see the beauty of this charming island and not just the nightlife. Because of this, we see now that all areas on the island are of interest to international buyers. In general 2016 has been a great year for Ibiza real estate and none of the agencies are complaining. Both inquiries and sales have increased in comparison to 2015 & 2016 and we have great expectations for 2017. The Balearic Islands in the first 2 months of 2017 showed an annual growth rate of 17% over the same period in 2016. Spanish banks are also starting to lend again. Inquiries for the southern part of the island remain strong or main continue however we notice that there is a trend for properties located in the north of the island. Areas such as Santa Gertrudis and San Carlos are renowned for quality year around living. While investors tend to focus on areas close to Ibiza Town and the famous Marina Botafoc.
Sales in the Balearic Islands
The first 2 months of 2017 shows that 2.449 properties were sold in the Balearic Islands, this includes Ibiza, this in comparison to the same period in 2016, this shows an annual growth rate of 17% according to the National Institute of Statistics.
Ibiza Sales Prices
Ending the first quarter of 2017 Idealista (figures based on asking prices) have continued to rise and are now at E 2,060 per m2, showing an annual growth of 9.3%.
Airport passenger arrivals data is a strong indication of international interest in Ibiza. Almost all travelers that come to the island arrive by plane from international destinations. This year again we saw an increase in airport passenger arrivals, with a 5.1% increase between mid-year 2014 compared to mid-year 2015. Passenger arrivals were higher every month in 2015 over the corresponding months in 2014. Over a third of all interest in Ibiza properties comes from the UK and Western Europe, with a 5% of global interest coming from the U.S.A. and Spanish buyers. In 2016 7.1 million people visited the White Island and most likely 2017 will break records.