Is Ibiza a good place to buy a property? The property market in Ibiza has always been reliable. There is no denying that our island’s real estate market has seen a significant influx of residents and foreign buyers, particularly in the luxury segment – and it has undoubtedly become one of the world’s top property hotspots.
Its idyllic location and high property demand have made Ibiza a safe investment for quite some time. As the current market stands, investing in a home in Ibiza makes for a secure return on investment, irrespective of whether it is residential, a second home, a villa for tourism rental purposes, or an early project phase property.
In light of Ibiza’s vibrant property market, we are excited to share our latest market update showing why Ibiza remains a great investment.
The island of Ibiza is not only an attractive investment but also one of the most sought-after locations in the world. Known for its pleasant climate year-round, natural environment, and extraordinary lifestyle, our island has much to offer. Our island’s picturesque beaches and sunsets, social networks, events, and laid-back lifestyle continue to attract many home buyers seeking a place in the sun where other international and cosmopolitan communities align.
Moreover, our island draws in many remote workers and entrepreneurs who can work from anywhere – including those with children due to its quality schools, natural surroundings and level of safety.
Many visitors from afar are impressed by its increasingly easy international connection (not only direct from London, but direct flights from New York to Mallorca are now available, allowing you to reach Ibiza in approximately 8 hours), making travelling to and from Ibiza much simpler and more enjoyable.
Soon, we will be taking a look at the housing market statistics once again as we enter the last quarter of 2023. Yet, as far as we can predict and according to our internal insights, we have continued to rise since our previous audit.
Our 2022 annual market report and 2023 forecast shows that Ibiza’s real estate market has always been more resilient than our neighbouring Islands and Spain’s mainland. Ibiza’s luxury sector has experienced a considerable upturn since 2020 compared to our peers.
Our Prestige Properties Ibiza’s sales data for 2022 show the following:
An overall 10% increase in price per square metre between 2020 and 2022 across all areas on the island
Our sales volume doubled between 2020 and 2021 – and remained stable throughout 2022
An 87% rise in enquiries over the past two years
A drop of around 50% in (published) listings (suggesting a high demand versus low supply market)
58% of our buyers purchased a property as a second home
Overall, following the main boom of 2021 (which saw even higher numbers than the pre-covid highs in 2017), the market remains steady and continues to rise. With fewer sellers on the market, property values are predicted to increase as the race against a low supply continues, making this a good time and Ibiza a good place to buy a property.
Ibiza Real Estate Properties for Tourism and Rentals
Ibiza generally continues to grow, especially in the hospitality and tourism sectors, making it a premium place to travel. Due to this growth, housing and infrastructure demand has also increased, making it a good destination for those looking to buy a property for tourism purposes.
Buying an Ibiza property with a current tourist licence is the ideal situation. The application process and legal certificate will already be completed, and, what’s more, regular tourism customers are likely to return to this same property and book their holidays year after year. Buying a property for tourism is a win-win situation. This type of investment will likely be fully booked year after year as the tourism industry is booming and its prestige VIP status continues upward.
Ibiza’s Real Estate Market for Long-Term Residents and Families
Our island’s relaxed lifestyle and tranquil environment make it a popular destination for long-term residents, families, and professionals (young and old) who can work remotely. Those who can afford it will naturally prefer a purchased home over long-term rentals (which are also challenging to find).
The island is experiencing a sensational rise in interest as internationals and families become more active in their purchasing journeys, resulting in an increase in prices, a decrease in supply, and an increase in demand.
So, is Ibiza a good place to buy a property and is now the right time?
Overall, one thing is for sure: You’ll have a better chance of getting a decent return if you buy a property in a highly valuable location, highly sought-after and in constant demand. And, yes, Ibiza is most certainly one of those places!
Are you looking to buy a property or luxury villa in Ibiza? Well, now is a perfect time!. If you want to view our Buyers Guide or speak with an agent about the current market and investment opportunities, contact us today!
We would be more than happy to talk you through Ibiza’s Real Estate potential.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Top 5 Authentic Ibiza Restaurants: A Gastronomic Journey of Flavours
Ibiza has many authentic and traditional restaurants that most certainly merit a visit. The quality of our local restaurant scene is greatly enhanced by our island’s fresh produce, daily seafood menus, and typical Ibicencan flair.
With a long list of family-friendly restaurants offering tasty menus and picture-perfect beachside locations overlooking the turquoise-blue Mediterranean Sea – we’re sure you’ll find something you like. Read on to explore our top-recommended gastronomic experiences and traditional Ibiza restaurants.
Balafia Restaurant – San Lorenzo, Ibiza
Balafia has been run by the Marí family since ‘Lina and Toni’ built this small establishment many decades ago. The restaurant is ideally located close to the quaint and charming village of San Lorenzo, alongside an orange tree orchard. These days Antonio Junior grills delicious food in an authentic wood oven while his sisters Lina, Toñi and Marita serve their customers. It is the perfect place to recover after a long beach day or have a delicious meal of grilled meats under the evening stars on their spacious Mediterranean terrace.
El Carmen – Cala d’Hort, Ibiza
In one of the most picturesque locations on the island of Ibiza, El Carmen Restaurant is situated in a place that can only be described as magical – facing the sea in front of the islets of Es Vedrà and Es Vedranell. Whether day or night, under the sun’s heat or in the evening before the breathtaking sunset, you can enjoy a feast full of typical specialities, especially fresh fish and seafood. Here you can enjoy a taste of one of these plates in an environment that is pleasant, familiar, surrounded by nature, and with spectacular views.
Cas Pagès – San Carlos, Ibiza
As one of the island’s oldest restaurants, Cas Pagès was established in 1972 by Carmen and Lucia Pagès. This small restaurant on San Carlos Road has served grilled meats and homemade dishes for over 50 years. They offer a variety of great rice dishes to their guests, including their famous "arroz de matanza", a delicious rice dish that contains the finest pork cuts available, and the "sofrit payès", which consists of lamb and chicken with sobrasada, potatoes, toasted almonds, and various herbs and spices. This menu is both wholesome and filling.
El Bigote – Cala Mastella, Ibiza
El Bigote is a beach-shack-style, no-frills restaurant with a view of Cala Mastella’s picturesque cove. The local restaurant is so popular that the King of Spain was allegedly turned away because he didn’t have a reservation. Reservations here are often months in advance, and there’s no answer on their mobile phone. It can take hours or even days to get through, so it is usually advised to drive there to reserve a table. Here’s where our Concierge Services can help you ensure your reservations are secured!
El Bigote only serves a minimal menu of authentic dishes – bullit de peix (fish cooked in saffron with potatoes) and rice cooked in fish broth. This authentic restaurant experience is worth the trek.
Restaurante Salvadó – Pou des Lleó, Ibiza
Salvadó Restaurante is a historical place on a boat dock where fishermen sold fresh fish. They’ve been running a family business for over 30 years with classic recipes passed down generations for you to enjoy from one of the island’s most authentic spots. This is a secret corner where you can experience the original flavour of the island in its purest form.
Salvadó Restaurante serves a wonderful array of seafood and fresh fish dishes, but we would highly recommend the traditional dish Bullit de Peix and Paella. It’s one of the best on the island!
Book your Ibiza Restaurant Reservations with Us
There is nothing quite like a great culinary experience to remember your Ibiza holiday. Remember, when you book your villa vacation stay with us, we’ll help you make restaurants and reservations in Ibiza. Many local and authentic restaurants have long waiting lists for a table, are walk-in only or have a no-card policy. Make sure you check in with our team to ensure that we can assist you with your reservations.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Top 5 Fine-Dining Restaurants in Ibiza | Explore Ibiza’s Culinary Experiences
There are many fine dining and chic restaurants in Ibiza that are well worth checking out. Due to the diversity of our culinary influences and top chefs pushing the boundaries of our restaurant scene, our island offers some amazing food.
With tasty menus and rooftop locations overlooking the Mediterranean, there is no shortage of elegant restaurants to choose from for a memorable night out. In every part of the island, there is something to please any palate and several fine dining eateries to experience.
Read on to explore our top-recommended gastronomic experiences and stylish restaurant guide.
Nobu Hotel Ibiza Bay: 5-Star Dining Experience on Talamanca Beach
Ibiza’s Nobu Hotel has a beautiful panoramic view of Talamanca Bay. Their dining facade offers a multitude of sexy, fun and immersive dining experiences. With five restaurants, you’ll certainly be spoilt for choice.
Nobu serves Japanese cuisine like no other, including Tiradito, Yellowtail Sashimi with Jalapeño, and Black Cod Miso –– all in an unpretentious yet captivating atmosphere.
Gusto, led by Michelin-starred chef Nieves Barragán Mohacho, takes you on a culinary journey through Spain. From the tapas bars of Andalucía to the seafood restaurants of Galicia, Gusto promises to be an unmissable, interactive feast for all the senses.
Chambao’s relaxed beachside chiringuito offers a laissez-faire seaside vibe. Ideal for long lunches and early dinners, with specialities such as freshly grilled fish, authentic Valencian paella, fresh salads, beautiful cocktails and a carefully selected wine list.
Next is the Bay Café and By the Pool Deck for healthy, wholesome cuisine choices and a perfect daily menu with freshly prepared sushi rolls, light dishes, and fruit platters.
Lastly, there is a beautiful rooftop terrace with a view of Talamanca Bay and Ibiza Town. This is certainly the place to be for hotel guests and locals looking for a distinctive night out after their evening meal.
Zuma Ibiza: Alluring Japanese Restaurant near Ibiza Town and Dalt Vila
Among Ibiza’s vibrant dining scene and luxury boutiques, Zuma’s rooftop restaurant provides an unforgettable panorama overlooking Dalt Vila and the historic old town of Ibiza. Zuma’s sushi counter, main kitchen, and robata grill offer an extraordinary Japanese menu that’s both authentic and modern. Zuma’s dishes emphasise simplicity and sophistication, using high-quality ingredients and bold flavours.
Juntos House Ibiza: Farm-to-Table Restaurant in the Tranquil North-West
Juntos House is a modern farm-to-table restaurant in the quaint village of Sant Mateu. With a modern twist, this kitchen sources delicious, locally grown food from its regenerative farm and local partners. With a strong emphasis on working hand in hand with the farm, they ensure fresh and delicious food! Juntos House is pure dining magic, with a restaurant, courtyard, garden, cocktail bar and boutique selling carefully selected products.
Amalur Ibiza: Iconic Dining Spot in Charming Santa Gertrudis
Ibiza’s iconic dining spot Amalur has been at the centre of gastronomy for four decades, housed in a blue-hued finca in Santa Gertrudis. Concerning its rich culinary and cultural heritage, the legendary establishment has recently undergone a masterful evolution.
Amalur was originally named after the Basque goddess of Mother Earth by former owners Juan Félix Lurrita and Emilio Zurbano. Today, Amalur is helmed by renowned restaurateur Francesco Manzoli. From the elegant furnishings and striking artwork on the walls to the creative, contemporary menu plus impeccable service, his unwavering passion for perfection and respect for the restaurant’s heritage is obvious at every turn. Using only local produce; the Ibiza fine dining restaurant creates high-end cuisine using creative, contemporary and colourful plates and dishes that taste as good as they look.
Nudo Ibiza: Mediterranean Beachside Kitchen in Scenic Es Figueral
At Es Figueral, there’s a surprising new restaurant spot along Ibiza’s shoreline this summer – Nudo. Following a gentle polish, a group of friends transformed an ageing beach bar into a fully-fledged Mediterranean kitchen with a hint of Mexico and Japan, merging flavours from Italy, Guatemala and the Nordics. It focuses on island-sourced ingredients with minimal intervention on the raw materials to offer something fresh, new, and different. The place specialises in serving natural wines mainly made by small producers from the Balearic, using organic grapes.
Book your Ibiza Restaurant and VIP reservations with us
There is nothing quite like a great culinary experience to remember your Ibiza holiday. Don’t forget, when you book your villa vacation stay with us, we’ll help you make restaurant and VIP reservations in Ibiza. Our goal is to ensure you enjoy the best Ibiza has to offer. Stay tuned for more insider local knowledge!
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Ibiza Retreat Villas: Relax and rejuvenate with a wellness program tailored to your Ibiza villa from our concierge service
Wouldn’t it be wonderful to have some much-needed time to recharge your batteries? We all know how stressful modern life can be, so it’s essential to take some time to rest, recover, reconnect, and just enjoy life. So, if you are looking for some extra ‘me-time’ without committing to an all-inclusive retreat package, we have the perfect solution for you.
Feel relaxed from the moment you walk through the door at your Ibiza retreat-style villa with everything you need from private yoga and fitness classes, massage treatments, meditation and healthy private chef catering.
If you want to disconnect in totality, you’ll love what our concierge service offers. Why settle for the ordinary when you can indulge in a little luxury?
Get pampered and re-energised with Ibiza’s wellness and retreat culture
There is no surprise that Ibiza has a thriving health and wellness community. Over the last few years, our island has become a hotspot for many entrepreneurs and industry professionals, bringing the health and wellness culture to a whole new level.
You can now find massage therapists, yoga instructors, meditation teachers, Reiki practitioners, ritual experts, reflexologists, and healthy vegan chefs who will come to your villa location for the ultimate private wellness retreat experience.
Discover what’s possible from our concierge team during your next Ibiza vacation.
Treat yourself to a relaxing massage at your Ibiza villa
A good massage is something we all enjoy from time to time. There are, of course, many benefits to massage that go beyond pampering and treating yourself. Besides promoting relaxation, massage also reduces muscle tension, improves circulation, stimulates the lymphatic system, reduces stress hormones, increases joint mobility and flexibility, improves skin tone, and promotes soft tissue recovery.
So why not have breakfast in bed, take a light swim, and book a well-deserved therapeutic massage whilst on your Ibiza holiday – your body will truly appreciate it.
Stay fit with one of Ibiza’s top personal fitness trainers or yoga instructors
If you are interested in staying fit and healthy during your holiday, we are more than happy to arrange a training or yoga program at your villa, outdoors at the beach, or even at a professional centre if that would be more preferential for you. Maintaining or improving your fitness while on vacation is more than possible. This can be done on a 1:1 basis, in a group, at your own pace, as much as needed. You can combine a personal training session with yoga and a massage for a complete wellness day.
Connect with yourself through an Ibiza sound bath and meditation ceremony
Get out your mat, blankets, and pillows and experience a transformational journey under the calming moonlight sky. Meditation and sound bath therapy can help you reset your mind and body, allowing you to completely disconnect and disengage from life’s pressures. Several experienced practitioners are offering guided meditations and sound baths here in Ibiza. Take a short journey into another world as you listen to the sounds of crystal bowls, tuning forks, shamanic drumming, and percussion instruments.
Keeping healthy in Ibiza is easy with a vegan caterer or private chef
You deserve the best food on your holiday, so why not hire your own private chef or have a catering team take care of everything for you? Our concierge team can help you plan the perfect culinary experience – whether you have dietary restrictions, are on a summer health kick, or enjoy vegan cuisine. We offer a wide choice of foods prepared by talented chefs, ensuring local sources and sustainable foods that will be the highlight of your stay.
Unwind in luxury at one of our Ibiza retreat villas
The Prestige holiday experience promises a world of luxury, comfort and infinite beauty. Whether you want a retreat-style vacation or a relaxed and simple holiday, we have everything you need. We’ll help you find the perfect Ibiza holiday property – be it a peaceful countryside setting, a traditional Finca or farmhouse, a modern white villa, or a property with sea and sunset views.
Why not take a look at Villa Love, one of our top recommended retreat-style villas – a quiet and private oasis in the middle of nature. Here, you can enjoy picturesque sunsets and stunning sea views from every room, the veranda, and the pool.
Located in the west of Ibiza, near Cala Carbó, this six-bedroom, seven-bathroom villa overlooks the sea with an elegant interior that blends beautiful Mediterranean elements with luxury furnishings. In a sleek modern style chosen with attention to detail, this property creates an ambience of luxury and contemporary design. The perfect relax-and-retreat villa for you to call home for the week.
It’s never been easier to escape
Getting away from the day-to-day has never been easier, especially since everything can be arranged from the comfort of your own holiday villa. Our concierge services can help you take care of the finer details when planning your perfect Ibiza-retreat holiday. You’ll get the highest quality service from the most reputable collaborators, whether you’re looking for hiking tours or watersports, in-house chefs and catering, wellness, yoga, personal training sessions, private massage treatments, or even a home cinema set-up.
See here some of our top Ibiza villas for retreats:
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Looking through the Keyhole of Ibiza’s Top Rental Villas – Can Alegria
Summer 2023 is just around the corner, and we’re ready to entice you with one of our top favourite rental properties here in Ibiza. Could Can Alegria be the perfect villa destination for you?
This countryside hideaway, nestled between Santa Gertrudis and San Mateo, offers relaxation like no other. Can Alegria is the perfect villa for friends and family who wish to spend a wonderful week or two under the heat of the Mediterranean sun.
We invite you to explore one of our most-loved Ibiza holiday villas.
Can Alegria – The Luxury Rental Villa with a Blakstad Design
With its stunning Blakstad design, Can Alegria hosts its original Ibizan architecture with outstanding modern features. This holiday home’s beautiful personal touches make for an impeccably styled and decorated must-visit.
Upon entry, you’re welcomed into an airy, stylish living room flooded with light. The high ceiling windows add energy as the bright blue sky showcases itself throughout – a feature unmistakably associated with traditional Ibiza architecture.
Can Alegria is filled with unique pieces collected from around the world, including sculptures, wall hangings, and a music-themed chandelier designed by the renowned Zermatt artist Heinz Julen.
In this home, you can gather to share food and conversation in a bright, functional and wonderfully styled space. Plenty of room exists for inclusion and hosting guests in this open-plan layout.
Can Alegria: A Large Holiday Villa with Five Bedrooms
Uniquely, each of Can Alegria’s five bedrooms has its own name, all decorated perfectly, creating an exclusive sense of home.
Located in a separate wing of the house, the master bedroom offers ultimate seclusion, space, and stunning sunrises. Here you can enjoy breathtaking views over the gardens and distant green hills from the huge private terrace.
Featuring neutral colours and natural materials, Marrakesh, Jardineta, Vista Hermosa, and Terraza are each bright, welcoming bedrooms. There is a good chance you’ll be debating which room to choose among the charming options available, especially the distinctive en-suite bathroom in Marrakesh, which features a narrow archway and leads into a luxurious round bathtub surrounded by Moroccan-style alcoves.
Can Alegria: An Ibiza Holiday Rental with Large Lush Mediterranean Gardens & Swimming Pool
The best way to take advantage of the beautiful weather in Ibiza is to book a villa with extensive surrounding gardens, a big swimming pool, and lots of outdoor chill-out zones. The answer is Can Alegria. This lovely garden and terraces are an idyllic spot to enjoy breakfast or an evening meal as the sun rises and falls, filling the space with warm, golden light – which overlooks the shimmering turquoise pool that runs the length of the house.
Although outdoors, there’s plenty of space to escape the summer sun under the numerous covered terraces, shaded thatch umbrellas and inviting gazebos. No doubt Can Alegria’s grounds will provide plenty of privacy and tranquillity.
The villa’s main living area offers large sliding glass doors directly outside, creating a dynamic space that seamlessly blends indoors and outdoors.
Can Alegria: A Perfectly Located Rental Villa Close to the centre of Ibiza, near San Miguel and Santa Gertrudis
Within twenty minutes of Ibiza Town and just six minutes from Santa Gertrudis, this wonderful, rural holiday home sits in the middle of it all, close to everything, but quiet enough to retreat to when you want. And, if you wish to really indulge in an extra relaxing week and stay a little more within your private setting, then Can Alegria offers the right facilities. Our concierge agents will be able to arrange any extras you might need to make your stay even more enjoyable and memorable.
Book your Luxury Ibiza Holiday Rental Property with us
Vacation rentals at Can Alegria are an excellent choice for a relaxing getaway. Take a well-deserved break and spend time with your family and friends by booking today. The upmarket villa rentals we offer cover all of Ibiza’s municipalities, including Santa Eulalia, Santa Gertrudis, San José, San Antonio, Eivissa, and San Juan, which come in many sizes, styles, and budgets.
The past four decades have been an incredible journey for everyone involved with Prestige Properties. Throughout the years we have had the privilege of helping thousands of people to find the home of their dreams. From local first-time buyers to high-profile celebrities seeking a summer villa, to young families beginning a new life on the island, all were served with the care and professionalism that has been at the heart of Prestige Properties since its very beginnings. We are delighted to take this opportunity to share with you the story of our company – its history, values, and vision for the future.
How It All Started
Our dear founder Pascale Dufournier was a native Parisian who as a young woman followed her dreams by coming to Ibiza in 1976. Even before arriving on the island, she knew that this would be the place she would call home for the rest of her life. Her passion for architecture, design and elegance led to a career in real estate, and it was a perfect match. In 1983 Pascale took a leap of faith and started her own company. Throughout the years she earned respect for the professionalism and style that she brought to both her business and her life.
These values have become the core of the company Pascale created, and they flow from her love of Ibiza. "I feel immensely fortunate to have been able to spend my life on this special island and surround myself daily with the most stunning properties, scenery and people. Prestige has never been work to me, it has been my family – to nurture and guide through the hard times and the good."
Inspired by Pascale’s passion and dedication, Prestige Properties prospered and became an important part of the island community. Our well-earned reputation for reliability and care for our clients was the key to the company’s success as it continued to grow from year to year… and then it faltered.
How It Evolved
The global financial crisis of 2007-2008 was a disaster for many businesses, and real estate on Ibiza was hit particularly hard. The housing market, which had soared to new heights in the previous decade, suddenly froze. The pressure was hard on Prestige, and the company teetered on the brink of collapse. Thankfully we were able to weather the storm with the help of timely investments from people who had faith in the strength of our company. Prosperity and growth eventually returned, but this scare was a warning that change was needed if Prestige was to remain at the forefront of the industry.
Pascale moved quickly to set a new course and one of the key turning points was hiring Victor Van den Driessche in 2009. Victor was born and raised on Ibiza. He went on to further his education in Paris, where he earned a degree in economics. Before returning to the island, he spent three years in Madrid working for the French multinational luxury conglomerate LVMH. Victor’s knowledge of modern business practices combined with his strong connection to Ibiza, made him an invaluable addition to the Prestige team.
Victor was a source of new energy and innovative ideas for the company, so it was no surprise that he was quickly on his way up the company ladder. Within just five years he had not only become Director of Sales, but also a company shareholder and partner. Victor’s strategic approach and personal drive complemented Pascale’s experience to give Prestige the change that it needed – a modern direction, without losing the essence and personal care that had made the company unique.
Where We Are Now
On Friday, April 1st, 2022, we said goodbye to Pascale Dufournier when she tragically lost her battle against cancer. Pascale’s beautiful qualities of presence, patience, passion, and style will always remain as the bedrock of the company that she founded. Victor has stepped into his natural role as Company Director. Under his leadership the business continues to grow and prosper while adding a new generation to the ‘family’ that will see Prestige into the future. We have a dynamic team of 20 multilingual professionals who are dedicated to upholding the company’s core values, as they strive to fulfill our clients’ dreams. The staff reflects a synergy of economics and ethics that Victor has brought to the company. He says that what makes Prestige special is, "the mix of experiences, our strong ethics, our love for the Island, and our long-term vision of the special relationship between the company and our clients".
Prestige Properties Team
Our Company Values
The values that Pascale established from the beginning have endured and evolved as the company has grown. In all aspects of our business – sales, rentals, listings, and concierge services – we provide personal service with integrity, style, and care. Our longstanding reputation for transparency and professionalism has been recognised by the major real estate associations in Ibiza: the PIMEEF and APIBIZA.
These values enable us to take excellent care of our clients in all aspects of real estate: finding the highest quality properties, organising unparalleled marketing, and having our finger on the pulse of local insights. Perhaps even more important is that we offer these services with grace and a smile. Clients of Prestige can still sense the French flair for elegance and ‘joie de vivre’ that Pascale brought to our lives and our work.
We Care About Ibiza
Our company strives to balance the pursuit of economic prosperity with support for the environment and social equity. Prestige has made green living a priority since 2017, and with the help of our tree planting offsets, we became a fully carbon neutral company this year. Prestige actively collaborates with local environmental organisations, and part of every commission for sale or rental is donated to IbizaPreservation in support of their wonderful work in protecting the island’s environment. We are particularly proud of our current campaign entitled ‘Campaña Escombro‘. In collaboration with the Novaforma construction company we aim to clean up illegal construction waste dumping sites on the island. Prestige also makes regular contributions to local charities that focus on promoting fairness and social justice.
Campaña Escombro
Prestige Properties has always been inspired by the love of Ibiza. Our vision for the future is to continue sharing our success in ways that help the island to evolve in a positive direction. We encourage our clients, collaborators, and all businesses on Ibiza, to join us by actively embracing the spirit of "Going Green & Giving Back".
The Prestige 40 Years Timeline
Victor with the Prestige Admin and Marketing Team
Victor with the Prestige Sales Team
Victor with the Prestige Rental and Concierge Team, including Pascale’s children Marie and Gabriel Dufournier
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Is 2023 a Good Time to Buy a Property in Ibiza?
As Ibiza’s property market continues to flourish, we are thrilled to share our latest real estate market update, demonstrating why Ibiza continues to be an excellent investment opportunity.
In recent years, the Ibiza real estate market has experienced a significant influx of new residents and international buyers, particularly in the luxury segment. Consequently, the island is experiencing a sensational rise in interest, a steady increase in prices, a decrease in quality supplies, and an elevation in demand.
So, is 2023 a good time to buy a property in Ibiza? There is no doubt about it! Now is an excellent time to invest. Check out our insights and forecast below for more information.
The General Spanish Real Estate Market in 2022
European and, in particular, Spanish real estate markets enjoyed a favourable year in 2022. As a result, Spain has been noted as one of the most promising countries to invest in property, with the price of real estate increasing by 7.1%, according to a recent report from Sociedad de Tasación. There have also been significant increases in the number of foreign buyers in Spain, with a record 26,728 sold and purchased properties, representing 15.92% of all sales in Spain (Idealista, 2022). In light of Brexit negotiations and economic growth rates, this figure is predicted to increase over the next few years.
The General Balearic Property Market over the Past Decade
The Balearic Islands have demonstrated continuous growth over the past decade (pre-pandemic), reaching its prominent peak in 2017. Sales and price averages remained steady until late 2019, when a mild decline began, indicating that the market was experiencing minor stagnation. Despite a temporary pause in 2020, sales and prices again reached their highest levels since 2007 during mid-2022.
Ibiza’s Luxury Housing Market 2022 with Prestige Properties
Ibiza’s real estate market has always been more resilient than its neighbouring Balearic Islands’ and Spain mainland’s, whereby setbacks or downturns have never been as severe. As our counterparts have seen their markets grow, Ibiza is particularly noteworthy, especially in the luxury sector, for exhibiting an even more significant upturn since 2020.
Our Prestige Properties Ibiza’s sales data from 2022 calculated:
An overall 10% increase in price per square metre between 2020 and 2022 across all areas on the island
Our sales volume doubled between 2020 and 2021 – and remained stable throughout 2022
An 87% rise in enquiries over the past two years
A drop of around 50% in (published) listings (suggesting a high demand versus low supply market)
58% of our buyers purchased a property as a second home
2023 Forecast and is now a Good Time to Buy a Property in Ibiza?
Based on our internal statistics and general market trends across mainland Spain and the Balearic islands, we are confident that Ibiza will remain a top destination for buying property in 2023.
Since the main boom of 2021 (which saw even higher numbers than pre-covid highs in 2017), we remain steady and continue to rise, making it an attractive investment. Since fewer sellers are on the market, the race against a low supply continues, thus guaranteeing a steady increase in property value.
The island generally continues to grow, especially in the hospitality and tourism sectors, and is becoming a premium place to live. As non-resident families become more active in their buyers’ journeys, they opt to rent long-term whilst waiting to see when the right property to buy becomes available.
This report uses internal and external sources to present information on the property market in Ibiza and the Balearic Islands for 2022, along with its projected forecast for 2023.
According to the data and figures received, the analysis covers the following three topics of discussion:
The Balearic Islands Housing Market Summary 2022
The Ibiza Luxury Housing Market Report 2022 from Prestige Properties
Prestige Properties Ibiza 2023 Predicted Forecast
1) The Balearic Islands Housing Market Summary of 2022
Taking a glance at the Balearic Islands’ housing market over the past decade, we can see both sales and house prices continue to rise. In 2007, the market suffered a rapid decline due to the financial crisis. Even so, the real estate market has steadily recovered, reaching a peak in 2017, with similar figures appearing in sales throughout 2022.
Since 2017, there has been a slight drop in sales from late 2018 through to early 2020 (suggesting the market was experiencing minor stagnation); however, it must be noted that during this period, the property market sector, like many others, started to experience less movement due to the uncertainty of COVID-19 that inevitably contributed to the decline in sales. Despite this, since the summer of 2020, buyers’ activity has quickly rebounded and thrived again, with property sales continuing to rise across the Balearic Islands.
2) The Ibiza Luxury Housing Market Report 2022 from Prestige Properties
It should be noted that Ibiza’s luxury real estate market has always been more resilient than its neighbouring islands’ and Spain’s mainland, whereby setbacks or downturns have never been as severe.
Despite the real estate market dip across the Balearic, the pandemic demonstrated a continuous positive shift in Ibiza’s luxury market. For a more detailed analysis relating to the effects of the pandemic on the Ibiza real estate market, check out our end-of-year market reports for 2020 and 2021.
In fact, since the 2020 pandemic, Prestige Properties’ enquiries, sales, and revenue have almost doubled in numbers.
Source: Internal Data Prestige Properties Ibiza
Average Price per Square Metre per Municipality in Ibiza
Our internal statistics from our sales database at Prestige Properties Ibiza calculated an average increase in price per square metre, from 7.281€ to 8.028€, approximately a 10% rise between 2020 and 2022.
Source: Internal Data Prestige Properties Ibiza
In Ibiza’s luxury housing market, most municipalities have shown price increases per square metre between 2020 and 2022.
Source: Internal Data Prestige Properties Ibiza
Eivissa – Average Price & Price per m2
Overall, the city remains in high demand and demonstrates a strong market presence. As with most European cities, Eivissa offers something for everyone, and the city has gained popularity in line with the rest of the island. Eivissa has experienced a 1% increase in the price per square metre in the past year. Even though 7.503€/m2 is slightly below the island’s average, the area still accounted for the majority of all our sold properties (of which most were apartments) at 55%.
Average Property Size: 95 m2
Average Property Price in Euros: 620.000€
San José – Average Price & Price per m2
San José has always been high in demand among affluent luxury second-home buyers.Over the past few years, San José has been the municipality with the most stable prices, averaging 7.911€/m2. In addition, San José is the municipality with the greatest mix of types of properties sold this year, with Apartments, Fincas, Houses, Modern Villas, and Projects all being sold. Despite a 1% decrease in price per square metre since last year, San José has maintained a steady price per square metre overall.
Average Property Size: 172 m2
Average Property Price in Euros: 1.300.000€
Santa Eulalia – Average Price & Price per m2
In 2022, the average price per square metre in Santa Eulalia was 8.185€. This price is 14% lower than last year (2021: 9.553€/m2) but remains somewhat higher than the current average. However, even with this slight drop, Santa Eulalia has still seen an average of 34% increase in its price per square metre since 2020.
Average Property Size: 315 m2
Average Property Price in Euros: 2.600.000€
San Antonio – Average Price & Price per m2
Compared to previous years, San Antonio’s average square metre price has increased from 5.442€ in 2021 to 8.963€ – presenting a 65% increase year-on-year. There are two possible explanations for this. Most of the island’s high-end new builds and off-plan properties are in San Antonio. Although they generally have a small surface area, they still offer prime locations (sea-front, sunset views, etc.), increasing the overall property value and price per square metre of the area. In addition, the Municipality’s average square metre prices are significantly increased also by the sale of large Fincas in the northern parts of San Antonio (Santa Inés, San Mateo, Buscastell, etc.), which are far above the island average.
To give a more comprehensive view of this interesting development, the average square metre price in San Antonio can be broken down by property type giving a more accurate understanding of the average values: Apartment: 5,150€/m2 – Finca: 13,779€/m2 – House: 9,665€/m2.
Average Property Size: 225 m2
Average Property Price in Euros:1.800.000€
San Juan – Average Price & Price per m2
San Juan de Labritja in the north of the island has an average price per square metre of 9.167€/m2. This is largely due to sizable plots, usually situated on rustic (protected) land, and the scarcity of sales properties in the north of the island, which contributes to its high square metre price. The price per square metre in San Juan has seen a 5% increase over the past year.
Average Property Size: 600 m2
Average Property Price in Euros:3.000.000€
Average Sales Price of each Property Type in Ibiza
Besides a properties location, a property’s average price per m2 and its final sales price depends largely on its type (category). Generally, apartments are marginally below the average market sales price, while modern villas, Fincas, and houses tend to exceed average prices.
Source: Internal Data Prestige Properties Ibiza
In 2022 Ibiza’s average price of an apartment was around 566.000€, with a range in price from 320.000€ (low-end) to 620.000€ (high-end). While the average price of an authentic Finca in Ibiza was 3.000.000€, the state of a property and its location play a role in its final value. For example, San Juan de Labritja typically hosts a Finca value (around 5.5M) which is much higher than the average due to its natural habitat and surroundings. While Santa Eulalia has a lower typical Finca sales price (1.6M), considering that often the plots are smaller, areas are more urbanised, which means there may be more factors that affect the sales price, such as road noise.
The average sales price of a modern villa in 2022 was about 4.700.000€. However, those for sale in the municipality of Santa Eulalia were sold at around 6.000.000€, many of which are in fact situated in the most exclusive areas near Ibiza Town, namely in Can Rimbau, Can Pep Simó and Cap Martinet.
Average Sales Prices of Properties that are "as new" vs "to renovate"
As Ibiza is primarily a reseller market, it is beneficial to examine the average sales price of properties that classify "as new" or "to renovate". The average sales price for a large-scale property "as new" sits around 1.840.000€, while properties requiring a renovation are often priced at around 1.000.000€. A difference like this is even more evident in San José, where a property "to renovate" costs about half as much as buying one categorised "as new" (860.000€ vs 1.700.000€). The differences in other municipalities are not very notable, which indicates that investment potential via renovations is highly variable and needs to be reviewed individually.
Source: Internal Data Prestige Properties Ibiza
Reasons for Buying a Property in Ibiza
The reasons people choose to purchase a property in Ibiza can be divided into three main categories: first home, second home, and investment. It is noteworthy that first-home buyers purchase a property to serve as their primary residence, whereas second-home buyers will primarily use the property as a vacation home. Buyers who intend to use the property as a holiday rental property to generate a return on investment or who intend to renovate and resell the property have been categorised as investment buyers.
The luxury property market in Ibiza has become the preferred destination for many international buyers. This has resulted in nearly 58% of our buyers purchasing a property as a second home, over 27% buying a property primarily as an investment, and only 15% of the 2022 property sales were made by first home buyers. 40% of the first home buyers were Spanish nationals, and they generally invested in apartments.
Source: Internal Data Prestige Properties Ibiza
International Interest and Percentage of Nationalities Buying in Ibiza
UK buyers remained the largest group at Prestige Properties in 2022, followed by Italians, French, and Germans. These four nationalities together purchased approximately 60% of the total properties sold in 2022, whilst the Dutch, Spanish, and Swiss buyers comprise the second-largest buyer group (27%).
Interestingly, in 2022, we received more overseas enquiries than in previous years, resulting in purchases made by residents of the USA and Hong Kong.
Source: Internal Data Prestige Properties Ibiza
Popular Ibiza Municipalities by Buyer’s Nationalities
Spanish and Italian nationals generally invest mainly in Ibiza Town, while German, Belgian, French and Dutch nationals invest mainly in San José. UK buyers tended to spread across the entire island, with numbers being evenly distributed between San Antonio, Ibiza Town, and San José. Most properties sold during 2022 were in San José (38%), followed by Ibiza Town (28%).
Source: Internal Data Prestige Properties Ibiza
We can also observe an equal trend towards purchasing apartments (55%) and detached houses (41%, including Fincas and Modern Villas) during 2022, with construction projects accounting for only 4% of the properties sold. However, this is not surprising in light of the limited supply of development projects. In Ibiza, construction permits are difficult to obtain, and a great deal of protected land limits the authorisation of new builds and construction projects available for sale.
In contrast to the general trend of buying an apartment in Ibiza, our clients from the UK and Belgium have a clear tendency towards buying a house.
Prestige’s Top-Selling Locations of the Year 2022
Based on the Sales Volume, the top-selling municipality in 2022 was San José, followed by Santa Eulalia and San Antonio. However, if we consider the actual number of properties sold, the order changes to: San José de Sa Talaia (38% of properties sold), Ibiza Town (28% of properties sold), followed by San Antonio (15% of properties sold), Santa Eulalia (15% of properties sold) and San Juan (4% of properties sold).
Source: Internal Data Prestige Properties Ibiza
Long-Term Rental Interest: an indicator for potential buyers
Long-term rentals for larger properties have become increasingly popular, especially with families. People recognise that they can work efficiently from home, focusing on building their businesses and watching their families grow in an idyllic location is a real and achievable attraction and a noticeable change since the pandemic. While there is a high demand, the market in fact lacks long-term rental opportunities and therefore provides good investment possibilities for clients seeking buy-to-let properties in Ibiza.
High Demand vs. Low Supply: the trend continues
Throughout the past few years, the number of enquiries for properties has been continuously surging, with an 87% rise over the past 2 years. It is clear that demand is increasing, yet fewer properties are being placed on the market. Throughout 2022, Prestige Properties saw a drop of around 50% in (published) listings. As a result of Ibiza’s increasingly restrictive building regulations, the number of newly constructed properties is also declining year after year. In this Prestige portfolio, 182 new properties were listed for sale in total throughout 2022. The lack of supply is one of the main reasons why the Ibiza Real Estate Market remains stable and properties consistently increase in value.
Source: Internal Data Prestige Properties Ibiza
Conclusion: The Luxury Real Estate Market Ibiza 2022
The Balearic Islands are not only one of the most popular holiday destinations in Europe, but they are also among the leading real estate markets in Spain, especially Ibiza’s luxury housing market, which continues to grow steadily. From the information and data above, we can see that the international second-home and investment market continues to flourish, with an increasing island-wide interest, particularly in the San José area.
Home sales, overall prices, and price per square metre in Ibiza are generally higher than in other Balearic Islands or Spanish mainland. According to Idealista’s statistics, the average sales price per square metre in Spain is 1.929€/m2, whereas, in the Balearic Islands, it is around 3.690€/m2, and in Ibiza it is 4.879€/m2. Prices have slightly increased, quality supply dried up and demand has rocketed. International high net worth families continue to establish themselves on the island, diversity is expanding, and the infrastructure is gradually being improved.
3) Prestige Properties 2023 Predicted Forecast
According to the house price index (IPV) published by the National Institute of Statistics (INE), the Balearic Islands remained the Spanish region with the highest house prices in the third quarter of 2022. Prices here increased by 8.3% compared to the same quarter last year. The luxury property market in Ibiza is expected to rise steadily and consistently. In general, this speaks to Ibiza’s upscale market, which is likely to continue to be attractive internationally well into 2023. As we leave 2022 behind and have started 2023, we anticipate a minor decline in sales. This is based on a global sentiment of general stagnation, but is also especially true in Ibiza since we are increasingly seeing a shortage of sellers on the market. However, growing in popularity as a trendy and desirable place to live, the island is generally experiencing continuous growth. Amidst Ibiza’s boom in luxury and extravagance, Ibiza’s main challenge will be maintaining its local charm and authenticity.
N.B. All data discussed above represents our internal data related to the luxury housing market in Ibiza and is solely taken from our internal database.
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All you need to know about selling your property in Ibiza
Is it time to sell your Ibiza property? With the real estate market at a stable value, Prestige Properties Ibiza can help you sell your property at a great price and with ease.
Find out everything you need to know about selling your villa or apartment on the magical white island of Ibiza right here with us!
Is ‘now’ a good time to sell a property in Ibiza: an overview of the real estate market
Besides being a popular destination for tourists, Ibiza has also become a popular location for international buyers seeking a permanent family residence, a second home or an investment opportunity.
There are several reasons why internationals consider buying property in Ibiza, including the wonderfully mild all-year-round climate, beautiful beaches, a lively atmosphere, remarkable architecture, and a unique local flavour. Of course, we shouldn’t forget the great international schools, the high standard of living, and the buyer’s investment return. For these reasons, we see a constant high demand versus low supply for Ibiza real estate, making property values stable and a favourable time to sell your property.
Selling your property in Ibiza with a trusted and reputable agency: Ibiza Real Estate Agents
Real estate agents who understand the Ibiza market can help you buy or sell a home with excellent results. Your property is more likely to be sold or found quickly and efficiently if you use a reputable and experienced agency. Nevertheless, it is challenging to choose which real estate agent to trust on the island due to the vast number of agents available.
Choosing a reliable agent is essential. A real estate expert should have education, credentials, certifications, and insurance, just like any expert in any field. Look for well-trained agencies registered with a professional body in Ibiza.
How will my property be valued: understanding real estate prices in Ibiza
To sell property in Ibiza profitably, we would always advise you to follow the current market prices recommended by your trusted agent. Understanding the local market well from your agent’s expertise is very important. Valuations can vary greatly depending on the property, the town, proximity to the sea, and the area’s status, and the current market. Therefore, all these factors should be considered when selling real estate in Ibiza.
Wish to get a valuation from one of our experienced real estate agents? Look no further; contact us today!
Selling your property in Ibiza: legalities, taxes and procedures
Numerous policies, procedures and costs need to be considered when selling your Ibiza property. For example:
The contract must be signed in the presence of both parties and the public notary. If the buyer or seller cannot participate in the procedure, attorneys may act on your behalf. In particular, the notary checks:
certificates confirming the absence of encumbrances of the object;
the correctness of the contract;
the parties have bank accounts in local banks necessary for the conclusion of the transaction.
The subsequent transfer of ownership when selling a property in Spain is also controlled by a notary. To speed up and simplify the procedure, you can enlist the support of a lawyer who will help prepare documents and avoid several difficulties.
Like in other European countries, both parties must pay specific tax fees when selling real estate in Spain. From the seller’s point of view, when concluding a transaction, the following costs should be expected:
Municipal Capital Gains Tax.
Income tax.
Tax on changes in the cadastral value of an object.
In our guide on the property selling process, you’ll find all the information you need, in detail, including a thorough list of procedures, taxes, costs, and some handy tips and points of reference.
This guide can be used throughout your seller’s process, and if you need any additional advice, we will be happy to assist you.
Are you ready to put your Ibiza property on the housing market?
A professional real estate agency with the necessary skills, knowledge, and infrastructure makes selling a home much less stressful. You should always contact a few companies and ideally arrange to meet at their physical offices to better understand their markets, work ethic, and personal connections.
At Prestige Properties Ibiza, our extensive experience in the local market will help you find the right buyer in no time at all. We can confidently sell your home with great satisfaction. Need to know more, check out our website article, ‘15 reasons to sell your property with Prestige Properties Ibiza’.
Our team is always ready to help you with your seller’s journey and will ensure you get the best opportunities with us, so why not contact us today?
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
How to find the Best Real Estate Agency in Ibiza
You can expect a great experience when buying or selling a home in Ibiza if you work with a real estate agency who knows and understands the market. A reputable and experienced agency is more likely to sell or find your property quickly and efficiently, at the best possible price. But with so many real estate agents available on the island it’s hard to know who to trust. Finding the perfect match may prove more difficult than you expect.
So, to help with the real estate selection process: here is some useful advice and professional tips on choosing the very best Real Estate Agency in Ibiza.
Choosing the Right Real Estate Agency in Ibiza
To begin, you might want to speak to those around you who have recently worked with an Ibiza real estate agency and ask them for recommendations. Finding the right real estate agent is a very personal process and a referral is often an incredibly valuable resource. However, if you are completely new to Ibiza then these may be hard to come by. Either way, we advise any client who is planning to buy or sell a property in Ibiza (with or without recommendations) to follow the advice outlined below to ensure they are working with a trusted realtor.
Find a Reliable and Professional Real Estate Agent in Ibiza
Select an agent who is reliable in every sense of the word. Too many real estate agents in Ibiza are working virtually as "one-man bands" without an official, physical office that they can show to the public. You should always be able to visit a reliable real estate agency in person and find out what they’re doing and how they operate.
Just as an expert in any industry would have education, credentials, professional body certifications, and insurance, real estate should be no different. Look out for agencies that are well-trained and registered to a professional body in Ibiza like PIMEEF and APIBIZA.
Experience and professionalism are unmatched advantages when buying or selling a home. Expert agents can help you find the perfect property in your price range, discuss neighbourhood demographics, introduce you to local schools and places of interest, as well as provide accurate valuations for sales, and always negotiate the best price and terms. In other words, a good agent will remain in a client’s corner throughout the entire process and will leave no stone unturned. Even if an individual agent is new to real estate, the experience, and support of the company he or she belongs to is crucial.
Well-Connected Real Estate Agents in Ibiza
In Ibiza, great estate agents will be well connected: demonstrating a good portfolio of direct listings and shared listings with partners of integrity. They will be able to provide a full range of services to clients in collaboration with property managers, builders, architects, lawyers, notaries, and gestorias, all in a variety of languages. They will also have access to the entire Ibiza property market, enabling them to offer clients the most suitable home, even if it is listed by another agency.
Should you list your property with various agencies or just one? Both options have positives and negatives; for a more detailed analysis read our article on "Why sign an exclusive mandate with Prestige".
Ibiza Property Agents With the Best Marketing Efficiency and Online Presence
It is always essential to go online and search for ‘real estate agencies in Ibiza’. What are the first results you see? How is your potential agency position on Google? Do they appear on the first page?
The real estate agency that excels in its marketing and online presence will always appear at the top of your Google search results. Additionally, they will have a user-friendly website with a wide range of well-presented properties. Ensure that the property descriptions are well written and there is consistent professional photography, videos, virtual 3D tours, and notes on special features and unique selling points throughout.
How about their offline marketing? Real estate agents with authority in their industry have regularly printed publicity through billboard advertising, company cars, public relations, and magazines. Finding out your chosen agency’s online presence, presentation and marketing strategy is a clear way to determine its strength in the real estate sector, especially when it comes to selling your home.
While investigating an agent’s online presence, it’s also a good idea to take a look at their client experiences, which can usually be found on their Facebook or Google Reviews pages.
Transparency in the Ibiza Property Market
You should always hire a real estate agent who is upfront, honest and transparent. Don’t be shy to ask questions or ask for all the information you need. Make sure all the fees, costs and general agreements are clearly stated and acceptable to you. It is extremely important that you always feel comfortable during the entire process, that you are properly informed, and you are able to ask every single question you have (regardless of how big or small they may seem). If you ever feel you are being pushed to make any type of a decision, or someone is withholding information, then don’t be afraid to move on. Invest time in finding someone you respect and trust.
Choose an Ibiza Agent who is Right for You Personally
The process of buying and selling a home is considerably less stressful if you work with a professional real estate agency that has the necessary skills, knowledge and infrastructure. Once you’ve narrowed your options down to a handful, contact them and ideally make an appointment at their physical offices to get a real feel for their market placement, work-ethic, and to see if you connect with them on a more personal level too.
If green living is an important factor to you as a homeowner and citizen, you may wish to consider an agency that advocates for the same environmental practices and ethical awareness. Check and see what kind of Social & Sustainable Activities your chosen Real Estate Agency in Ibiza partakes in and if their values as a company match yours. For more information on our personal Corporate Social Responsibility follow our link below.
Thank you for staying updated with us at Prestige Properties. We hope to see you soon!
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
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