Market Spotlight: Ibiza, Spain
“Certainly activity is very high in Ibiza this year,” says Daniel Chavarria Waschke, Managing Director at Ibiza Sotheby’s International Realty, “Many buyers are now coming in for the ‘kill’ having put in the groundwork last year. In 2012 there was plenty of “we’ve found the home we like, in the right location, at the right price, but we’ll just wait and see what the Spanish economy does”. But this year they’ve come back and bought, mostly with little hesitation or negotiation. The fact that the prices they saw last year have remained stable, or even increased, has helped to cement the argument.”
Also, a mix of nationalities has helped to keep the property market buoyant. Daniel continues, “The increase in British buyers in Ibiza is nothing short of incredible. The Brits have most certainly returned and lead the nationality rankings for inquiries at 40% with a big gap to the next nationalities – Italians at 8%, Dutch 6% and Germany 6% – a slight dip since 2012. We then have Swiss, Russians and a handful of American, Lebanese or other Middle Eastern nationals living and working in either the UK or Switzerland. And it’s not just holiday homes, the superb International College and buzz of design and media activity on the Island attract many clients who buy for permanent residence.”
Search Luxury Real Estate in Ibiza
Source: Victoria Rand in Market Spotlights | SIR Blog | August 26, 2013
