IBIZA REAL ESTATE MARKET REPORT 1st quarter 2019 © – HOUSES IN IBIZA 2019
Dear Customers, Clients and Friends,
As Ibiza starts to prepare for the 2019 season with the scent of fresh paint and busy expectation in the air, we examine final data from 2018 and some of the perspectives for the season and its possible impact in terms of the Real Estate Market in Ibiza.
Since our last review, most parameters remain the same with the overall market is a strong consolidation phase!
House sales in Ibiza have fallen sharply in 2018, down to 1750 units, listed units on offer are at an all time high but real prices are only slightly down.
What is happening?
The Ibiza property market is slower, but quality supply remains limited and demand appears to be robust at the right price.
Building permits in Ibiza have jumped which implies that a fair amount of refurbishing is taking place, while spending and m2 remain stable.
Ibiza Property Prices for the most part are stable, with what appears to be a slight downward pressure, which is likely to continue in coming quarters.
We also have Municipal and Autonomous Elections in May 2019 in Ibiza, a shift in political power may provide a slightly more permissive planning & expansive licence environment.
The season appears to be running along similar lines to 2018, prices for villa rentals and hotel ADR´s seem to be stable following last years readjustment and occupancy levels look promising.
Real prices will continue to consolidate for the next quarters and sales transactions may see an uptick during this year.
Not a bad time to be considering!
Hope to see you all soon on the island!
Clive Heathcote – Houses in Ibiza ©