IBIZA Prime Real Estate Market 1Q 2016 Report

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The HOUSES IN IBIZA Prime Real Estate Market SUMMER 2015 REPORTCaptura de pantalla 2016-05-06 a las 10.49.11


 

 

IBIZA Prime Real Estate Market 1Q 2016 Report Summary

 

So, after a record year for the island in 2015, this year is looking at least as good in terms of tourism, insular economic data and the housing sector. Foreign and Spanish investors are showing strong interest in prime real estate and both transactions and average spend is expected to be up again in 2016.

Christmas 2015 and the early part of the year have been very busy and the season appears to be expanding quietly to include the winter months with an increase of 20% in visitors.

The change in government and the political landscape has meant, at least initially, a much stricter approach to planning and housing legislation.
Building and refurbishing permissions have been cut back meaning the available legalised offer is evermore scarce and consequently driving prices higher.

Land to develop has become even stricter and restricted and again those with planning permission have increased considerably in value.

All in all, we expect to see another strong summer season and continued interest in the prime real estate market . We expect an increase in transactions and an increase in prices again in 2016, following the trend established in the past 3 years.

The vacation rental market again is expected to be strong this year and is now consolidating attractive rental yields for buy to let investors, net yields can be around the 5%.

Prices range enormously but for prime real estate expect to pay over € 4 mm for a 480 m2 finished product in the countryside with a large plot (30,000 m2 plus) or a similar sized house with a sea view close to the sea albeit on smaller plots (5,000 m2 minus)

Fincas or houses to be rebuilt or refurbished depend largely on licenses but again expect to pay between € 2 mm and € 2,5 mm. Building cost for prime are some € 2500/m2

Good sized plots with an active license to build can command prices of over € 2mm

A frontline apartment with some 150m2 with sea views on the golden mile in Ibiza town costs upwards of €1.5 mm

As it stands, it is pretty much a sellers market!

by Clive Heathcote/Houses in Ibiza
May 2016

 

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Housing Transactions

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Residential housing starts

Residential housing starts. Houses in Ibiza

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Residential building licenses. Houses in Ibiza

Residential building licenses

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Housing stock for sale

Housing stock for sale. Houses in Ibiza

 

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1Q 2016 Passenger arrivals

can-Fina

 

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Passenger arrivals 2012-15

Passenger arrivals 2012-15. Houses in Ibiza

 

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Passenger arrivals/nationality

Passenger arrivals/nationality. Houses in Ibiza

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Passenger arrivals/nationality

Visitors 2010- 2015

 

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Total Visitor Stays/Hotel

Total Visitor Stays/Hotel

 

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Visitors Expenditure 2010- 2015

es-vedra-luna

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Visitors Expenditure 2010- 2015 Breakdown € mm

Total Visitor Stays/Hotel

 

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Resident population

Resident population

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Resident population

 

Resident population

 

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Resident population

 

Resident population

 

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Total Hotels/Establishments

 

Total Hotels/Establishments

 

 

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Resident population

Hotel Occupancy %

 

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Hotel Guests Average Daily Spend

Total Visitor Stays/Hotel

 

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Total Available Beds

Total Available Beds

 

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