Foreigners are still interested in buying houses in Ibiza
According to a study carried out by idealista, the British take the demand of the real estate agencies of the island.
Foreign investors still have their sights set on southern Europe. Data on supply and demand of properties in countries like Portugal, Italy or Spain are revealing: the good climate and the beach continue to be key factors.
In this sense, the island of Ibiza (and also Formentera) is one of the preferred places for people from the United Kingdom and Spanish residents outside the country. In fact, as we mentioned in the last post of our blog, Ibiza is among the cities in Europe where it is advised to invest in this decade.
Because of the pandemic, the demand from outside our borders has changed. Here's how.
EVOLUTION OF THE DEMAND FROM ABROAD
As reported from the idealista real estate portal, "foreign demand (...) has been affected since March by containment measures in all countries and by restrictions on mobility, which make it difficult for investors interested in buying a residence to enter".
However, "from May onwards it began to recover" and in Spain, since then, "positive levels of demand have been maintained", explains David Marrero.
Considering to invest in Ibiza?
Our high standing real estate agency has a complete catalogue of exclusive properties. Find your next investment opportunity clicking here.
The study highlights that "with the period of de-escalation the demand from abroad has recovered one (1) percentage point between June and September compared to Q3 2019". That is, that "13% of foreigners" are "interested in buying a house" in Spain.
PRICES WITHOUT SUBSTANTIAL CHANGES
Although generally "prices have not been much affected by the economic crisis", idealists warn that "we will have to wait for the evolution of the pandemic", which is now in the middle of a second wave.
In fact, many analysts predicted a substantial drop in the price of housing in March and this has not been the case. This is due, among other factors, to the application of moratoriums on mortgages, aid to employment and low interest rates throughout Europe.
WHO PURCHASES HOUSES IN IBIZA
As you can see in the map below, in Ibiza the interest is taken by British citizens. With one exception, however: the municipality of the capital (Eivissa) is the most attractive for Italian investors.
These data confirm the usual trend in the Balearic archipelago: the British opt for Ibiza and Menorca; the Italians for Formentera mainly; and the Germans take practically all the investment in Mallorca.
THINKING OF BUYING OR SELLING YOUR IBIZA PROPERTY?
Our real estate agency in Ibiza is specialized in the purchase and sale of stylish villas, Ibizan style fincas, apartments in the best areas of the island, ...
Contact us so that one of our real estate agents can advise you on your next investment or to value the property you are thinking of selling in an honest and professional way.
You can make an appointment by phone at +34 971 339 307 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it. and come visit us at our office in the Paseo Marítimo (Avda. Juan Carlos I, Edificio Transat, Local 15Edificio Transat, Local 15).
We hope to see you in the next article of the Ibiza Country Villas blog!
Photo by Vladyslav Cherkasenko on Unsplash.
