Property in Ibiza

Property in Ibiza

Ibiza

Ibiza is sometimes called the ‘White Island’ because of the white buildings and typical smooth architecture. The island became a major tourism destination during the 1960’s famous for its ‘hippie-culture’ and nudist beaches. Today Ibiza is world famous. Most people are aware of the world class nightlife, but Ibiza has so much more to offer! Ibiza enjoys a mild climate, nice beaches, friendly people, peaceful areas, relaxing traditional Mediterranean lifestyle and beautiful scenery. There are also endless activities away from the beach: such as exploring Ibiza’s lively towns and peaceful country villages, golf, walking, cycling or sailing.

Ibiza has plenty of regular scheduled flights from all over Europe, and ferries from the mainland. Ibiza has a cosmopolitan feel and attracts a diverse multi-cultural group of people from all walks of life (together with many celebrities from the arts, music, film and sports industries). Everybody enjoys and celebrates the spirit of the island and the privacy it offers.

Many celebrities and international business people have used the services of renowned architects who have designed state-of-the-art luxury villas combining modern style with other international influence. These properties have become famous architectural references and often appear in highly regarded design magazines.

Ibiza Property – Brief Overview

South/West Ibiza – The San Jose area

The south is more densely populated than other area’s of the island as it enjoys views to Formentera and the sea. Here are many excellent beaches and protected nature areas. Also the airport is never far away. Properties include luxurious residences, stylish mansions and numerous recently constructed properties.

Ibiza Town and Outskirts

Ibiza Town is located close to the marinas and the main port. The Town area is highly prized and much sought after property. Here, you will find comfortable, modern luxury apartments and villas, which have views to the old town D’alt Vila.

Central, North and North West Ibiza – Santa Gertrudis, San Juan and San Mateo area

This is an up and coming area, which is the island’s main agricultural region. It has contrasting landscape from high cliffs to green forests to large open fields and is quiet and relatively sparsely populated featuring large plots of land and many beautiful old fincas (the traditional whitewashed farm houses), many of which have been modernized.

East/North East Ibiza – Santa Eularia area

This area is popular among tourists and features a number of popular craft and antique open air markets. There are wonderful places to visit, many secluded bays and quaint villages. Property here tends to be residential including many renovated fincas.

The Property Market

The property market on the island of Ibiza is different from the rest of Spain. Despite the current economic crisis there are still many buyers from all over Europe and across the Atlantic, who are investing in this little piece of mysterious paradise.

In the past few years the majority of requested properties have been for modern and contemporary designs, but there is a definite steady rise in demand for more traditional architecture and finca’s.

Property values in Ibiza

Property values in Ibiza have boomed in the past ten years with an increase of about 300-400%. The global economic crisis has not hit Ibiza in any way like the rest of Spain and Europe. The prices of the middle and upper end properties (values over 1.5m€) has also proven to hold and withstand the otherwise downturn the european market. However there has been a downward trend for less expensive properties. To sell apartments have taken longer than ‘usual’ due to the banks being more reluctant to grant new mortgages at present.

But in general we have certainly noted that the market is very active now. It seems more appealing to many of our clients to invest in safe, stable property on the ‘White Island’, rather than having their money deposited in a bank account somewhere!

ZAN’s recommendation – look North !

Ibiza continues to attract attention from a wide range of international clientele and is unquestionably one of Europe’s property hot spots. As with property anywhere – first time buyers should take their time and explore the island before deciding on their favorite location.

Whilst scoping out the island for your ideal location/property, ZAN recommends investigating property in the north, as it is still reasonably priced in comparison to the more populous south. Larger estate’s can be found in quiet, more rural settings. With some effort and fun, the more adventurous types may locate a lifestyle property with development opportunities, potentially making this area an attractive source for securing long-term investment and higher yields.

Significantly, the recently modernized road infrastructure has made for convenient, easy access to all parts of the island – so the ‘north’ is not remote – anymore.