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.
-
-