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Demand of luxury properties in the North of Ibiza is growing among wealthy foreign buyers
We have seen a progressive increase demand of luxury properties on Ibiza, with British investors leading the way in the Ibiza luxury property market.
In the next five years, until 2021, the appeal of the White Isle as a luxury brand is set to become a global trend, attracting increasing numbers of buyers from the US, Asia and the Middle East.
The luxury real estate market is booming around the island, driven by the opening of new chic restaurants, high-end design shops and 5 star hotels. 2017 sees the opening of the latest addition to Ibiza’s five-star accommodation, Nobu Hotel Ibiza Bay in Talamanca.
All these changes make an impact on Ibiza’s sales market. Prices and demand for luxury homes are growing all over the island, not only in the areas that were normally in high demand or exclusive such as the South west.
We are noticing a distinct migration towards the north of the island, among wealthy buyers. As a response to cater to this demand, we have just opened a new office in San Juan. The north of the island is more bohemian, quieter and it usually attracts couples, families or investors who are seeking a more relaxed lifestyle, compared to the buzzing life in the South. Northern Ibiza appeals mainly to creative people looking for inspiration and city workers who need to recharge and relax with their families.
Properties in the north range from traditional Ibiza farmhouses to contemporary Mediterranean Ibiza villas with far-reaching sea views.
If we are looking at the type of buyers, we can see that due to the continued strength of the pound against the euro since 2015, there has been a strong demand from British buyers – thanks also to increased confidence in Spain as a whole, together with a stability in the British economy. The UK buyers are seeking mainly second homes and lifestyle acquisitions. Other strong buyers come from Netherlands, France and Italy.
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