Ibiza Real Estate Market Report December 2023

Ibiza Real estate Market Report 2023

Ibiza Real Estate Market Takeaways December 2023

        • The expected slowdown in home sales is now becoming apparent in the year-to-date numbers
        • Prices are at all-time highs, but weakening a little at the lower price points
        • Listed offer inventory (supply) has started to increase again across all price points
        • Demand, at the right price, continues to remain robust. We expect to see some easing for the coming quarters on the back of higher rates, geo-political uncertainty, and a healthy consolidation after recent strong rises.
        • The rental market is softening slightly in all short-term, vacation, and longer-term segments, with price sensitivity prevalent but still with a strong undertow of demand.
        • Construction costs remain firm and delivery times are still problematic, prices are expected to remain firm
        • New taxes in 2023 increase transaction costs for the higher-price tranches
        • The local and autonomous Balearic government is now led by the center-right party PP and is considered to be market-friendly.

 


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