Ibiza Real Estate Market Report Third Quarter 2022 – November 2022

Hi everyone!

Ibiza has experienced a very strong season hitting what looks to be all time highs both in terms of visitors and expenditure.

In spite of the geopolitical concerns and inflationary pressures on rates and the general economy, the real estate market in Ibiza is extremely buoyant with prices at all time highs and transactions looking to be the highest in the past 5 years

New developments continue to sell briskly, renovated fincas, and to be  renovated, are in high demand as are luxury apartments, high quality product remains scarce and buyers from all over the world looking to buy into a slice of this paradise.

We expect demand to be fairly robust but we do expect to see start to see some consolidation in prices and a slowdown in the rhythm of home sales.

We do not expect to see any significant price falls and demand for quality will remain fairly strong as the island continues to consolidate as a premium destination, as well as an attractive lifestyle option for many high net worth individuals & families looking to spend a all or parts of the year in Ibiza.

Ibiza tends to move in 10 year cycles; 7 years of price increases followed by consolidation for 3 years.

We will probably start to move in the coming quarters into a price consolidation period with transactions starting to slow down a little

Not a bad time to be buying!

Stay well!

Clive