IBIZA NEWS - The Real Deal
– Hope you are all keeping well!
Well, summer actually happened and how!!
After a slowish start to the season, the island shifted into gear and in spite of a few bottlenecks here and there and a little hesitancy, July and August moved into full swing.
Ok clubs could not open, but our visitors shifted to full on daytime entertainment and the beach restaurants, bars and chiringuito’s flooded to probably have the best July and August ever!
Nice to see the island back in action and so good for the local economy.
Hotels saw good occupancy and villa rentals had a heyday as evermore guest put value on space and privacy.
A number of cool new hotels opened up all, a number changed hands and exciting new venues made their debut on the island.
The Ibiza Magna Marina has finally sorted out it concession and experienced management have taken over and will be ready to cater our regular super yacht visitors net year.
Demand for real estate is robust with a sharp increase in home sales for the 2Q and we expect the trend to continue for the year.
Institutional interest is higher than ever and investment in the hotel space will exceed €2,000 mm in Spain this year with the Balearic’s taking a fair share of investment. Several hospitality brands are also looking for a foothold in Ibiza.
A group of specialized funds have raised money to invest here and we expect to see some movement in spite of scarcity of quality product.
A number of businesses have changed hands and we look forward to them for next season. It is very likely that we shall see further changes during the autumn and winter months and so expect a refreshed version with new ownership of some island icons.
The pandemic has certainly put the focus on quality space and better lifestyle which is partially fueling the strong demand we are seeing for property both as longer term rentals and purchases.
The steady increase in flows of people coming to live on the island as a lifestyle option and the continued arrival of UHNWI coming to the island has created a wealth of opportunities to cater for year round residents and further consolidating Ibiza as a luxury destination while holding on to its freer, more tolerant and non judgmental values.
The local governments appear to be facilitating bureaucratic procedures somewhat making it a little less cumbersome to do business and much needed infrastructure investments are now finally being studied, budgets being earmarked and hopefully we will see some output in coming years, especially in more efficient waterworks and better mobility.
Ibiza remains a very attractive option with compelling returns going forward, still limited somewhat by scarcity of adequate and still too lengthy time lines and confusing paperwork.
All round things are looking promising!
Whats happening?
NEW HOTEL OPENING SIX SENSES IBIZA
Six Senses Ibiza- – Cala Xarraca- Sant Joan de Labritja
The new Six Senses hotel in Ibiza elegantly poised on Xarraca Bay is the brainchild of inspirational architect and owner Jonathan Leitersdorf.
A wonderful addition to the islands landscape and will most likely be a game changer for the neighbourhood and the island itself.
Sustainability, discrete, earthy elegance, inner temple, wellness and community are not only buzzwords but a succinct part of a unique mind and body experience in a spectacular setting.
Nestled on 20 acres ,116 thoughtfully designed rooms, with serene sea views, the main pool stretches 50 metres across, a large fully equipped wellness center and a spa offering a wide variety of treatments retreats and heath programs and therapies.
Four restaurants follow the hotels ethos with the ubiquitous Israeli Eyal Shani heading up the HaSalon Ibiza, The Farmers Market, The Farmacy Bar and the infamous Beach Caves.
You will not want to leave this paradise!
The resort will be open all year round hosting numerous events and retreats for our minds , bodies and soul.
Big Welcome!!
NEW HOTEL OPENING OKU IBIZA
Oku Ibiza- – Cala Gracio- Sant Antoni de Portmany
The new 189 room, five star OKU hotel in Ibiza lies at the foot of the hills behind Sant Antoni and a few minutes from the beach of Cala Gracio.
A good addition to the fast moving Sant Antoni landscape and one that holds the values of boho spirituality close to the heart and design peppered with Japanese Wabi Sabi.
Set in pines and palms, with two pool, one the islands largest, two restaurants and several chill space to wind down and relax, spa and fitness centres.
A big warm welcome to the island!
Corallisa- new development
New Development 15 minutes from Ibiza town
A well designed, high quality high end 20 villa gated development, set on the gentle hills just outside Ibiza town and minutes from the golf club and the beach
House sizes ranging between 450m2 and 550m2 on plot sizes starting at 1,500m2 offering privacy and unspoiled views.
Available off plan for delivery in 2022
Prices start at €3100,000
the infamous party scene
WHAT ABOUT THE CLUBS?
Summer Dancing In Ibiza
The nightlife association has been studying various alternatives with the authorities and advisors as to the options we have had this summer. Alas to no avail!
Clubs can now open with certain limitations for the traditional closing at the end of season. (?). Ok
Amnesia and the iconic DC10 have announced closing parties and other may follow suit and this is good we must keep the flame alive.
Other open air venues have seen a busy summer albeit with capacity and dancing limitations and many sell out evenings.
What is clear is that there is much pent up demand for the Ibiza clubs and we should be braced for a strong season next year
more club gossip
Cha ..Cha.. Cha.. Changes….
After many years of disagreements between the majority shareholder Echaniz and the minority shareholder the Matutes Group we may finally have some good light at the end of the tunnel.
Talk is a group is looking to take it over, execute a major refurbishment and relauch to restore the infamous club back to its Ku glory days!
Stay tuned!
more club moves
Heart Ibiza … New Ownership
The Adria Brothers venture with the Cirque de Soleil owner Guy Laliberte after 5 years has been dissolved.
In its place the powerhouse behind the Beach House are taking the venue over and have many exciting propositions for us next year!
An exciting and refreshing addition to the Ibiza night offering.
Welcome!
What else?
OD Group has taken a 25% stake in the Concept Group Hotels
An interesting move in the local hotel space!
Marc Rahola of the expanding OD Group has taken a 25% state in the Concept Hotel Group created by Diego Calvo, both Ibiza based hoteliers.
This move makes sense for both groups as Concept can roll out its themed hotels and OD can aplly its expertise and add another brand to his portfolio.
Wishing the best to both entrepreneurs!
An excellent venue now consolidating year 2
Casa Jondal has taken Ibiza to new levels!
This is it! We needed a good honest place to lunch that held the islands traditional values of low key, easy going & laid back and the team behind Casa Jondal are delivering!!!!
Rafa Safra delivers simplicity at its best and awakens long dormant taste buds.
An absolute must grat food great location great service!
This is definitely a new level and adds infinite value to the island!
Great job guys!
luxury apartments for sale at the isla blanca ibiza
As the Isla Blanca luxury shopping mall on the golden strip of Ibiza approaches completion 4 luxury 600m2 flats and a Penthouse are now available for sale state of the art luxury and spectacular views in Ibizas’ most luxurious venue.
french experimental group takes over Hotel montesol
The Paris based group, already in Cap Des Falco with the beach club, will take over management of this iconic 33 room hotel. It will also open the new Sabbaba restaurant specialised in Israeli cuisine.
The HISTORIC Fiesta Hotel TANIT undergoes major makeover
The JV between Azora and Matutes Group are spending an estimated €40 million on revamping this classic San Antonio family hotel of the 70’s into an adults only under the deluxe TRS brand and is expected to open in May 2022.
Lets check some numbers
PRICES ARE STARTING TO AWAKEN
Listed Prices per m2 meter inching up
After a few years of consolidating prices, prices move upwards across the board.
12 months rolling for all listed offer is up some 7% and we expect to see the trend continue in coming quarters
There is demand across all price points and we expect prices at all price points to evolve upwards but partuclarily the low range and the premium segment
housing starts are picking up sharply
Residential Home Sales leap!
Residential home Sales have seen a large jump in 2Q21. For sure there is pent up demand and a certain amount of spill over from 2020 where travel impediments made transactions more difficult.
However there is a strong undertow of demand and momentum is building up. We would expect to see sales continue to pick up and it is likely that 2020 was a bottom we are working from.
Building Permits steam ahead
Building permits holding well
In spite of the pandemic building permits remained brisk in 2020 and so far in 2021 seem to be powering ahead providing a small but continued pipeline.
The number of multifamily developments are included in these numbers which account for the bulk of the total units.
This is actually good news as we do need to have more accessible housing especially for the island working resident population
keep your eye on ...
MARINA MAGNA MAKES A BREAKTHROUGH
Marina Magna new owners
Finally we now have a new professional consortium behind the management of the Marina Magna concession, the experienced team behind the Marina Ibiza, IPM-IMG.
Marina Magna will de renamed Mrina port Ibiza
another big property buy in the making?
Rumours
The mill keeps on churning… a number of high profile big ticket purchases look to be closing in the next quarter!
Keep tuned