Buying property in Ibiza
A fabulous climate, stunning beaches and thriving entertainment scene make Ibiza one of Spain, if not Europe’s, most popular holiday destinations. More and more people are falling in love with the island’s chic-Bohemian charm and relaxed way of life; discovering along the way that there’s so much more to this Balearic island than the nightclubs which have become so synonymous with its name. It’s hardly a surprise, therefore, that many have taken the step from holidaymaker to property owner.
After a few turbulent years at the start of the decade, the property market in Ibiza is booming again, especially compared to the Spanish mainland. Furthermore, with pundits saying the Euro still has room to fall, there’s no time like the present to start considering an Ibiza investment.
With a permanent population of over 100,000, including more than 25,000 expats, Ibiza is much more than a summer destination and, with positively warm winters compared to many other parts of Europe (the average temperature never dips below double digits), offers enormous advantages for year round living. These include an international school and, to the relief of the island’s expat community, an international airport, which has an extensive network of domestic and international destinations.
Settling in Ibiza
Towns, such as Santa Eulalia, on the east coast of the island, make an excellent family base that a large, permanent community of both locals and expats call home, whilst Santa Gertrudis is a historic village found in the island’s interior and the location for Morna International College, the International School.
Alternatively, you can use your Ibiza villa or finca (rural villa) for your own family vacations; with an array of gourmet restaurant openings and a recent refurbishment of the port, amongst other improvements, there’s always something new to discover on each visit. Plus, if you normally struggle to convince your children to come on holiday, they are unlikely to say no when you invite them to Ibiza!
South Africans and other expats moving to Ibiza now will enjoy an increased purchasing power by up to 15% thanks to the current rate of euro currency.
Letting in Ibiza
Yet, for those looking to invest in a holiday property rather than make a permanent move, Ibiza offers enormous buy to let earning potential. The Ibiza luxury villa rental market is one of the strongest in Europe and, with a long summer season, savvy owners are presented with an opportunity to recoup a significant amount of their investment every year.
Choosing a Property
From ultra stylish and carefully restored traditional fincas to the modern beach getaways offering breath-taking views over the Mediterranean Sea, one of the hardest questions you’ll face when buying property in Ibiza is deciding which one. We would recommend renting a luxury villa in Ibiza first from a well-established agency, such as Dynamic Lives, which are able not only to ensure that you have an outstanding holiday experience, but also to properly introduce you to the island and supply you with an array of useful buyer’s information. This way you can take the time to familiarise yourself with the island and ensure you make the right decision when it comes to investing in your very own ideal Ibiza property.
- Dynamic Lives: dynamiclives.com
Text: Chrissie McClatchie