The construction is in full progress! - Santa Gertrudis
The construction of Ibiza Estates Development’s villa in Santa Gertrudis, Ibiza is progressing swiftly. After just 3 months the full structure has been completed and work is now underway plan the interior and exterior walls.
Expected to be completed by autumn 2024, the work is commencing precisely according to the agreed timeline. Prospective buyers and investors seeking the ultimate Ibiza experience can now anticipate the opportunity to make this exceptional property their own.
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.
Source: ibizapropertyguide.com
The revaluation of the houses rises by 15% every year
Our experience in the sector allows us to observe that, since 2020, the revaluation of homes in the Balearic Islands is rising by at least 15% annually. Every day we find more price rises, and, more importantly, more buyers willing to pay it.
Does this mean it is a good time to sell, and a good time to buy?
Currently, we have more buyer clients looking for houses to buy than seller clients willing to sell their properties. House prices are going up and up and, at the moment, many foreigners are willing to pay market prices.
Given the current scenario, it can also be considered a good time to buy, as house values are rising day by day. So, you buy the house, enjoy it for as many years as you want, and with the revaluation you pay the mortgage interest on the loan granted.
The Balearics are at a very important and interesting point in the real estate bubble!
The price of housing in the Balearic Islands continues to rise
According to Euroval’s analysis, the average value of new housing is above the maximums of the real estate bubble. The Balearic Islands are the region of Spain where the selling price of properties has increased the most. It is worth noting that in the last 15 years it has increased by 108.2%.
But, what is the reason for this increase in prices?
The Balearic Islands is a community with great infrastructures, where the quality of life is higher than in other European cities. It is a community that always offers good services.
Besides being one of the most outstanding tourist areas in Europe, it has a perfect location in the Mediterranean, where it is easy to fall in love with its charm.
In which forms can you acquire a property?
There are many ways to acquire a property. However, these are the most typical ones that Bufete Frau works with. We explain them in a brief and simple way for your understanding:
Purchase and sale
The most common way of acquiring a property is through the well-known purchase and sale. It is a consensual, bilateral, onerous and typical contract, whereby one party undertakes to transfer the property in favour of another in exchange for a price in money.
Succession
Succession is another way of acquiring property. The right of succession is transferred upon the death of the owner. It is the process of passing on the assets of a deceased person.
Donation
A legal act by which one person transfers property free of charge to another person. Both parties must agree to the transaction.
Dation in lieu of payment
This is a legal figure that consists of handing over an asset in exchange for payment of a debt. It consists of handing over the property to the creditor when it is impossible to meet the loan payments.
Acquisition by public auction
This type of acquisition is the sale of a property at the best price offered. These properties can be either owned by private individuals or institutions. It is the mechanism of concluding the purchase contract in which the price and the buyer of the property is determined by the bidding of the participants.
Source: bufetefrau.com
Ibiza report 2021/2022
Sales continue to rise despite Corona period.
The Corona pandemic has brought many challenges and has literally turned our world upside down. Despite the many changes and also restrictions, the average price per completed sale has increased by 29% compared to the previous year.
This shows that the demand in the luxury segment is increasing significantly and that the interest in modern apartments, luxury villas and beautiful country houses in Ibiza has not only remained stable but has even grown.
The demand for newly built villas and apartments also continues to rise. In addition to the existing stock, buyers also find that they increasingly need to build their own dream home.
According to the market analysis of the Sociedad de Tasación (an independent real estate valuation and market analysis company), the luxury segment has remained very stable in terms of prices, as demand is still very high. In addition, Ibiza focuses more than ever on sustainability and environmental protection and alternative energy sources are therefore expanded.
Ibiza also wants to develop economically outside of tourism.
Optimism for 2022
Stable price trends and active transactions are expected for Ibiza in 2021/2022 The dynamic buying activity and continued video viewing requests over the past period indicate the confidence to be extremely positive. After many viewings during the Corona period, many buyers are very much looking forward to seeing their favorite apartments and houses in person. Therefore, with falling infection rates and the vaccine making unrestricted travel possible again, buyers and sellers will therefore continue with their real estate plans and close real estate transactions. In the past year, potential buyers signed contracts very quickly.
This proves once again that Ibiza is still popular with international buyers as a safe haven for real estate.
Wide audience
Despite the past Corona crisis, the demand for real estate in Ibiza will continue to spread in 2021 due to the internationally represented public.
Ibiza registered 15 different nationalities and is once again delighted that Spain is the strongest buyers' market. Germany follows as the second strongest buyer group, closely followed by Italy and France. But buyers from other countries also showed an interest in the offer of attractive properties in Ibiza.
New construction in Ibiza
In addition to the existing stock, Ibiza also increasingly offers a variety of attractive new construction projects all over the island. From luxury apartments around Ibiza Town, newly built villas mainly in the south and west of the island or modern residential complexes with exclusive services. Ibiza's new construction projects are not losing their popularity and are in high demand thanks to their good building structure, individual adaptations along with modern amenities