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Property in Ibiza: why buy a house in 2022?

Buy house 2022

We share with you the analysis made by Verónica Sedeño for Diario de Ibiza regarding the possibility of buying a house in Ibiza this year 2022.

According to the report, "the doubts about the evolution of the real estate market caused by the health crisis seem to have dissipated". The past year has left behind "figures that have not been recorded since before the bursting of the real estate bubble".

Without going any further, "in the third quarter of the year a total of 154,155 sales transactions were closed". In other words, "12.4% more than the previous quarter", according to the Real Estate Registry Statistics. This is the highest quarterly result since the beginning of 2008.

This data confirms that the "best quarters of 2018 and 2019" have been "clearly surpassed" and that "five consecutive quarters of growth" have already been accumulated. In the analysts' opinion, it is foreseeable that "the trend will continue upwards" this year.

Should I invest in housing in 2022?

Buying a house in 2022 may be, for many, a good investment. As Sedeño states, "unlike what happened in previous economic crises, during the pandemic, housing has acted as a safe haven asset and the indicators suggest that, if the pace is maintained, the level of sales and purchases prior to the health crisis could be recovered in the coming months".

Along the same lines, Ferran Font (director of research at pisos.com) believes that "it is a good time to buy because there is a lot of liquidity and interest rates are very low". Anticipating inflation and the rise in prices and lack of materials is another key factor for buying a house in Ibiza in 2022.

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How are house prices evolving?

According to data from pisos.com's annual sales price report for the month of December, "the average price per square metre for used housing in Spain as a whole was 1,878 euros". In other words, "2.79% more than the same month last year".

Looking ahead to 2022 "rises are not expected to be too pronounced", with Font predicting a "rise of around 4-5%". However, the analyst also points out that "no abrupt overvaluation scenarios are expected" due to the fact that both supply and demand are seeking stability.

What is new in the cadastre?

As we explained in the last article of our blog, "from the 1st of January the new reference value of the Cadastre has come into force". If you are thinking of buying a house in 2022, you should know that "this concept will act as a taxable base for calculating taxes linked to this type of operation such as the Transfer Tax (ITP)".

In the same way, it will also act as a taxable base "for the calculation of others such as Inheritance and Gift Tax or Wealth Tax". It is important to point out that it is the taxpayer who must prove to the Administration that "the value of the property is lower than that indicated by the Cadastre", if this is the case.

Nevertheless, the experts are optimistic: "the future outlook suggests that the savings rate, together with prices and low mortgage interest rates, are factors that encourage people to consider the decision to buy a house in 2022 as a wise decision", says Verónica Sedeño.

Puede leer el artículo original a través de este enlace. Foto de Ketut Subiyanto de Pexels.


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