Will property and estate prices drop in Ibiza in 2023?
As the world continues to grapple with the effects of the pandemic, many investors are turning to safe assets like properties. However, the Ibiza property market seems to be disconnected from the general Spanish or European prices for properties. Despite the challenges faced by the real estate industry, prices for properties in Ibiza have continued to rise, including apartments, fincas, and villas.
So, why will this trend continue? We’ve asked connected professional real estate agents, and they all provided the same response: prices will not drop in 2023. In this article, we will explain why.
High Demand for Ibiza Properties
The Ibiza property market has proven to be a safe haven for investments over time, and as a result, more and more investors are searching for properties for sale in Ibiza. With the worldwide crisis and inflation, money is losing its worth more and more every day. Investors know that properties are a safe asset that can help protect their investments from the effects of inflation.
Few People Want to Sell Their Property in Ibiza
One of the reasons why the prices of properties in Ibiza will continue to rise in 2023 is because few people are willing to sell their property. Property owners in Ibiza know that their estates will never lose as much money as they would if they kept it in a bank account. Therefore, they are not willing to put their property up for sale.
Rising Demand for All-Year-Round Rentals
The demand for all-year-round rentals is rising in Ibiza, and there are several reasons why. First, Ibiza offers approximately 360 days of sun per year, making it a perfect destination for those seeking to escape the colder climates of northern Europe. Second, flight connections between Ibiza and major European cities have improved significantly, making it easier for people to visit the island. Third, Ibiza offers a fiber-optic high-speed internet connection, making it the perfect place to set up an office.
Many homeowners prefer to rent their properties than sell them, which has resulted in a shortage of available properties for sale. As a result, rental prices have increased, and this has also contributed to the overall rise in property prices in Ibiza.
Conclusion
In conclusion, the demand for properties in Ibiza will continue to rise in 2023 due to high demand, few people willing to sell their property, and rising demand for all-year-round rentals. If you’re looking to invest in real estate, Ibiza is a safe and profitable place to do so. Contact one of our professional real estate agents today to find the perfect property for you.
