At our Ibiza real estate we are concerned about the performance of the Spanish property market, where the “year of Covid” has had a remarkable and surprising influence.
While it is true that the whole world is facing what is perhaps the worst economic crisis at any level, there are some lines of commerce that have nevertheless benefited.
This is the case of home buying and renting, which experienced an unusual surge in the mid-2020: interest was mostly in homes, and for purchase.
The forced confinement has had a singular weight in the sudden interest in buying and selling homes, perhaps due to the increase in teleworking: there are numerous families who now earn their income in this way and no longer have to travel from one place to another.
The real estate sector thus experienced an unexpected recovery in 2020 which, although slow, has remained stable despite the fact that fewer houses have been sold, but at higher prices.
Of course, at a regional level this can vary significantly, as factors such as financing costs or loan concessions play a role.
What type of housing is now in demand
Users were mainly interested in homes with certain characteristics: three bedrooms, with a terrace and around 95 m2. In some circumstances, the preference was for locations away from the big cities.
This is where the teleworking factor comes in, as when you don’t have to move to another place it is easier to live away from the high concentrations of people, and enjoy a more relaxed life.
In our case, the sale of houses in Ibiza has soared with the pandemic, and in fact prices have risen as well as demand. The Balearic island has positioned itself in the European market as an extremely attractive destination to invest and live.
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So, then, the sale of villas in Ibiza has not fainted either, on the contrary, an average of 50% more houses and villas have been sold in Ibiza compared to the same period in 2019. And the price increased by 29 %.
Our Ibiza real estate has also noticed a change in the behaviour of buyers: they used to visit houses once or twice before making an offer. Now, for fear of the strong competition, the sale of houses in Ibiza closes in one day, just like the sale of villas in Ibiza.
What buyers are looking for in Ibiza
We, as real estate in Ibiza, understand the interest of buyers to live on this wonderful island, so our offer of houses and villas in areas such as Santa Eulària, Eivissa, Sant Josep de sa Talaia or Ibiza town covers a wide range of tastes and budgets.
Luxury villas, modern, new build or second hand, country and charming houses… located on the beachfront or in delightfully rural surroundings, with swimming pool, orchards, and even some with solar panel spaces for maximum energy certification.
We are confident that 2021 will close on a high note, with good omens for the year ahead.
The property market in our country has stayed afloat during the pandemic of the century, and that is a reason to celebrate.
