Ibiza’s Luxury Real Estate Market in 2024 – Our Forecast and Predictions
In the face of global challenges, geopolitical shifts, and economic uncertainties, Ibiza’s luxury real estate market has remained resilient throughout 2023. Renowned as one of Europe’s premier holiday destinations, Ibiza continues to attract considerable interest from investors seeking a slice of its luxury property offerings. The Balearic Islands, moreover Ibiza, are well-known for maintaining a stable real estate market, often demonstrating the capacity to weather economic storms and emerge stronger.
So, what’s been happening in the Ibiza property market? Resilience, growth, and evolving dynamics. What’s in store for 2024? Those who keep an eye on Ibiza’s ever-changing property landscape can explore some interesting prospects teeming with possibilities for a new potential buyers market.
A Glance at the Ibiza Property Market in 2023 with Prestige
Significant trends emerged in our analysis of Prestige Properties Ibiza’s sales data for 2018-2023. The price per square metre has witnessed a commendable 17% increase since 2018, underlining the enduring appeal of Ibiza’s real estate. Notably, our sales volume displayed remarkable growth, doubling between 2020 and 2021, maintaining stability throughout 2022, but registering a slight dip in 2023, marking the first decline since 2019.
An 87% surge in enquiries over the past two years reflects sustained interest in the market, though there’s a gradual shift from a low supply/high demand scenario in 2022 to a higher supply/lower demand market in 2023. Interestingly, 75% of our buyers in 2023 opted for a property as their second/holiday home.
For a comprehensive overview, including our Full Market Report and additional statistics, we invite you to explore our detailed 2023 Annual Ibiza Property Market Report and 2024 Forecast.
Ibiza’s Real Estate Market is Flourishing, But Are Dynamics Shifting?
As we assess the current state of Ibiza’s real estate market, one can observe a sustained upward trajectory in the price per square metre. This trend, surpassing figures from 2022, showcases the enduring allure of Ibiza’s properties. The island’s popularity remains a driving force, with its real estate market outpacing both other Balearic Islands and the Spanish mainland.
For the first time in many years, the market is experiencing a gradual increase in property supply, suggesting a potential transition from a seller’s to a buyer’s market in the future. While there are indications that the market may shift towards a buyer’s market, it’s important to note that this cannot be confirmed yet, we will have to wait until at least the completion of the second quarter of the year to have a clearer indication. However, as we reach the end of January, it’s delightful to note that the year has begun exceptionally promising, with January setting a very positive tone for sales in 2024.
Prestige Properties 2024 Predicted Forecast
As we cast our gaze toward 2024, the landscape of Ibiza’s real estate market points towards a potential shift to a buyer’s market, but a confirmation remains elusive due to incomplete data. The uncertainty is further fueled by geopolitical circumstances and financial insecurities, which may influence property purchases in the coming year.
Anticipated trends suggest a deceleration in sales for the Ibiza real estate market in 2024, accompanied by a noticeable surge in available properties. This trend may persist, resulting in an increased inventory in the subsequent years. Despite these projections, the current market conditions position it as now as an opportune time for sellers, given the prevailing high prices.
However, the future trajectory of prices remains anticipatory, and whether they will stabilise or witness a decline is yet to be confirmed. Ibiza’s real estate market has historically exhibited resilience, with prices bouncing back and often surpassing previous levels after a downturn. This characteristic makes Ibiza an intriguing prospect for long-term investors who see potential opportunities in market fluctuations.
The Ibiza Real estate Market in 2024
For prospective buyers contemplating an investment in Ibiza’s real estate market, the island’s historical resilience distinguishes it from mainland Spain and other markets. The multicultural environment, coupled with a persistent demand for luxury properties and holiday homes, enhances Ibiza’s allure for both sellers and buyers.
In conclusion, the Ibiza real estate market in 2024 is yet to be determined, but it currently presents a favourable climate for sellers due to high prices. The island’s history of resilience and its distinctive appeal suggest potential opportunities for savvy investors. To navigate this dynamic market successfully, staying informed with real-time updates, seeking guidance from local experts, and considering global economic conditions are essential practices. As the journey into 2024 unfolds, the Ibiza real estate market beckons with both challenges and prospects for those ready to explore its intricacies.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Ibiza Spring and Easter 2024 – Mediterranean Scents & Springtime Activities in Ibiza
Welcome to our Ibiza Spring break 2024 activities and events guide! In Spring, Ibiza offers an exclusive experience. Tourism hasn’t hit its peak yet, businesses are gearing up for the season, and the weather is warm and pleasant. The white island takes on shades of yellow and purple due to blooming flowers, contrasting with the predominant green landscape.
Heading north, away from the capital and Sant Antoni de Portmany, the lively nightlife fades into tranquility. Rural areas take over, offering a quieter, traffic-free Ibizan experience. Uncrowded beaches in spring provide a sense of privilege, with colourful lizards on the sand. It’s a quiet retreat, perfect for enjoying the birdsong away from the urban buzz.
Enjoy nature and crystal clear waters without overcrowding of tourists
In this article we will share with you some of our absolute favourite activities to do during your Ibiza Spring and Easter break 2024. If you’re still looking for your ideal Ibiza villa for your stay, we’ve got you covered too; check out the best Ibiza Spring Villa deals below:
Enjoy an exclusive picnic in Ibiza this spring with panoramic views of the Mediterranean. Total privacy, basket with local delicacies, from cheeses to wines, all carefully selected. Personalized attention for a unique experience on the beautiful island.
Outdoor activities & Produce Markets
Spring in Ibiza is ideal for enjoying water sports such as kayaking and paddle surfing in clear, calm waters. Fewer tourists offer a serene atmosphere on beaches and coves, allowing you to explore the coast without the crowds. Additionally, the season is conducive to hiking, with pleasant weather conditions and lush landscapes, creating a unique experience that combines water sports and exploration of the island’s natural beauty.
The Produce Markets are the perfect choice to explore a wide range of unique items, carefully grown, made or locally sourced on the beautiful island of Ibiza. These ones stand out:
The Forada Market, which opens its doors every Saturday of the year from 10:00 a.m. to 4:00 p.m., located in the Buscastell area.
The Sa Coperativa Market is located at the beginning of Camí de Sa Vorera, in Sant Antoni de Portmany, and opens its doors on Fridays from 9:00 a.m. to 2:00 p.m.
The stalls at Mercat Nou, Mercat Pagès (on Vicent Serra i Orvay Street, 21-13) and Mercat Vell (in the La Marina area) continue to offer fresh products. These markets are open every day of the week in the morning, except Sundays.
The Sant Josep de sa Talaia Market, which opens its doors every Saturday from 9:30 a.m. to 1:30 p.m. in the heart of the town, in front of the Town Hall, and the Sant Antoni de Portmany Market, which offers its products every Friday from 10:00 a.m. to 4:00 p.m. in the square behind the town church.
Santa Eulària des Riu also has its traditional Market, located on Calle del Sol, open every day of the week in the mornings, except Sundays.
On the other hand, we have the markets, called "Hippymarkets or second-hand markets"
The vibrant Sant Jordi market takes place at the Sant Jordi racecourse and offers handmade and secondhand items. Hours: Every Saturday from 8:00 a.m. to 3:00 p.m.
Las Dalias, located in Sant Carles, north of Ibiza, open every Saturday (all year round). Las Dalias’ Ibiza Spring 2024 Schedule: April and May: Saturdays from 10 a.m. to 8 p.m. and Sundays from 10 a.m. to 7 p.m.
The Punta Arabí Hippy Market, the oldest and largest in Ibiza, is held on Wednesdays from 10:00 a.m. to 7:00 p.m. at the Punta Arabí hotel complex, Es Canar. Opens on the first Wednesday in April!
Enjoy traditional Ibizan food in restaurants where it is often impossible to get a table in the middle of summer
Make your Ibiza Spring 2024 the time you finally get to try out some of Ibiza’s most delicious dishes in the most unique and inspiring settings:
S’illot des Renclí, an iconic beach bar with 33 years of history in Ibiza. They stand out for bullit de peix, a fish stew with soupy rice and a variety of fish. They offer delicious options such as striped, served or grilled grouper, in addition to the classic flaó dessert. The views and the warm atmosphere among pine forests make it a unique visit.
Cala Mastella, known as El Bigotes, is an iconic restaurant in Ibiza founded forty years ago by Juan Ferrer. It offers bullit de peix with freshly caught fish in its llaüt. For a modest price, anyone can enjoy authentic fishermen’s food in its surroundings.
In San Mateo, near a crossroads, is Juntos House, a modern farm-to-table Restaurant. San Mateo is ideal for taking walks and going on hikes, the ideal Ibiza Springtime activity.
Casa Jondal, in the picturesque cove of the same name, offers the relaxed essence of beach bars. Using Mediterranean ingredients, chef Rafa Zafra and his team create homemade delicacies, from grilled fish to traditional stews. The culinary experience, simple but irresistible, combines seasonal products and the best ingredients from the sea. In addition to enjoying the best seafood, diners can relax with snacks or drinks in one of the most impressive settings in Ibiza.
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The IMS Ibiza Summit Festival, Spring 2024
An appointment with electronic music in Ibiza this Spring, from April 24 to 26, 2024.
The International Music Summit Ibiza (IMS), the annual electronic music congress that brings together industry leaders, innovators and promises, announces a change of venue for its 15th edition in 2024.
The IMS will be held at the innovative Mondrian & Hyde Ibiza hotels, facing the turquoise waters of Cala Llonga, from April 24 to 26, 2024. Mondrian Ibiza, with direct access to the beach, will offer contemporary sophistication and luxury, exclusively for the delegates.
Eivissa Medieval will be held from May 10 to 12, 2024 in the old town of Eivissa, known as Dalt Vila.
During the second weekend of May, the old town of the city of Ibiza is transformed into a medieval market where you can find street vendors, nobles, fakirs, snake charmers, magicians, witches, puppets, minstrels, jesters, knights, princesses, princes, dragons, falconry, artists and craftsmen, as well as typical food and drinks.
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Tour the Renaissance walls of Dalt Vila, which are a World Heritage Site, discover the Phoenician town of Sa Caleta and the museum-necropolis of Puig des Molins
Spring in Ibiza is perfect for exploring its historic outdoor treasures, such as the Renaissance walls and Dalt Vila Castle, both World Heritage Sites. Without tourist crowds, it is the ideal time to stroll along the cobbled paths of the majestic castle and enjoy panoramic views, immersing yourself in the architectural and cultural wealth of the island.
The necropolis of the goddess Tanit, near the old town of Ibiza, is the best preserved funerary site in the Mediterranean, located in Puig des Molins. Founded by the Phoenicians in the 7th century BC, it reflects the closeness between the spaces of the living and the dead. Currently part of the Archaeological Museum, it has around 3,000 tombs from the Punic era, with only a small number visible, such as the mule hypogeums, discovered in 1946.
Sa Caleta, 10 km west of Ibiza, is a Phoenician archaeological site, a World Heritage Site since 1999. Established in 654-650 BC. and abandoned in 600 BC, reveals foundations of stone buildings, known as the "southern quarter". The buildings, about half a dozen, are grouped in narrow streets and courtyards, built with stone, adobe and flat clay roofs supported by wooden beams.
Spring 2024: Ibiza Club Openings
On Saturday, April 27, 2024, Ushuaïa Ibiza will open its doors. Dancing outdoors and under the Ibiza sun, the most important artists in electronic music will be welcomed and we will dance with people from all over the world.
The party will continue later that same day at the Hï Ibiza Opening Party. Joint tickets will be available that will take you from day to night through two epic events.
The music season is welcomed in the last week of April and the first weeks of May, where the epic terrace of Amnesia and the magical garden of Dc10 will not leave anyone indifferent.
Ibiza Mountain Bike Race – March 29-31, 2024
XXIII TOUR OF IBIZA ON MOUNTAIN BIKE SCOTT BY SHIMANO 2024
From March 29 to 31, Ibiza will once again be the mountain bike capital with the Tour of Ibiza on MTB Scott by Shimano. The countdown to the twenty-third edition has already begun!
Registration opened on November 15. In this first period, each number will cost 180 euros. Discover the most famous island in the world in a unique way, exploring its countless roads and trails by mountain bike. The race direction prepares surprises and route variations for the faithful cyclists.
The Ibiza Marathon, a unique experience in the Balearic Islands, stands out as one of the main European marathons. Breaking the norm by running in the afternoon, runners will enjoy spectacular views during the 42,195 meters from Ibiza to Santa Eulària des Riu. The meticulousness in the details and the certification of the Royal Spanish Athletics Federation guarantee the quality of the event. The marathon weekend will merge sport, tourism and leisure, offering a special experience for runners and the island. Also in 2024, Ibiza Spring will welcome participants from all over the world, making this race a milestone in the island’s history and a benchmark for future marathons.
Fantasy Festival May 17-19, 2024
The second edition of the Fantasía Ibiza Festival will take place from May 17 to 19, 2024. This multidisciplinary art event in the streets of the Pitiusas, created by cultural activist Lucia Barbiero in collaboration with Ibiza City Council, attracts local and international artists.
Fantasía Ibiza Festival seeks to inaugurate the season with local and international talent, offering talks, workshops, live music, performance, live painting, exhibitions and more, with the aim of disseminating and valuing the art of Ibiza.
Reopening of Ibiza’s Bibo Park in Spring 2024
Ibiza Botánico, or the CIEF Botanical Garden, is a hidden natural oasis in the heart of Ibiza. Celebrating local flora diversity, it offers a relaxing and educational experience. Explore native plants, flowers, and majestic trees across various ecosystems. Interactive educational programs highlight the significance of conservation and the crucial role of plants and technology in our ecosystem. It’s a visit not to be missed! Open again from 1st April 2014.
This 2024 book your Ibiza Spring Holiday Villa with us!
The perfect spring or Easter getaway can be found in a holiday rental villa, which will offer you more than you can possibly imagine. Vacationing in a villa rental is an ideal option for a relaxing vacation with your family and friends, especially if you want privacy and the freedom to escape the crowds while enjoying all the island has to offer. Make 2024 the year you treat yourself to the Prestige Holiday Experience!
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Discover Ibiza in Winter: A Guide to Off-Season Wonders
Ibiza is a different island during the winter off-season. Compared to summer, you’ll experience much more relaxation and an entirely different crowd of people – it’s really the best time to see the island’s natural landscapes and sunsets. In fact, Ibiza in winter delights all the senses, offering its more authentic and inherent aspects.
The island’s off-season also lets travellers enjoy its local charm and captivating community and heritage. Fortunately, there are many sunny days, and the temperatures are usually very pleasant, making it possible to enjoy a few beers in the sun, join the local community events and explore the island’s social scene.
Read on to discover what to do in Ibiza during the winter and why we love it!
What to do in the Winter: Ibiza’s Natural Habitat
A stroll along in absolute solitude is always a delight, and nothing beats Mother Nature. A refreshing walk through Ibiza’s countryside, along its coastline or overlooking the glorious winter sunsets is always best when there are fewer people, and the air is cooler.
The Beaches and Hidden Coves in Ibiza
At the very top of our list, we recommend visiting beaches such as Las Salinas (Ses Salines) and Es Cavallet (here you can walk between both beaches, passing by the Torre de Ses Portes), Playa d’en Bossa or Platges d’en Comte.
Yet, Ibiza also has plenty of hidden coves that are suitable for active travellers who are interested in the journey as well as the final destination. These idyllic coves are most enjoyable for relaxing and enjoying a picnic after a long hike. Here, you can discover many charming coves and spots along the coast, such as Cala d’Albarca, Es Portitxol, Cala Llentrisca and Punta Galera.
Over the winter, it is more than possible to find many of our beaches lined with large quantities of algae. There is nothing unusual about this –– it’s part of the remains of Posidonia Oceanica, the world’s largest living plant between Formentera and Ibiza. These meadows have been declared a World Heritage Site by UNESCO. Their oxygenating action on the water makes the Pitiusas Islands’ sea clean and crystalline.
The Campo and Hiking Opportunities in Ibiza
Nothing is more rewarding than walking the lush, golden countryside, a road less travelled but very rewarding. There are several areas worth exploring, including farmlands and places of interest. Sant Agnes’ almond blossoms are particularly beautiful during the winter season. Generally, the season lasts from the end of January to mid-February and is the most magical and special time of the year. These days also herald the arrival of spring on the island.
There is a great variety of hiking and walking options to participate in, from the hills of Sa Talaia, the highest point on the island with outstanding mountaintop views, the hills of San Juan, the natural springs of San Mateo, and the village of Santa Inés with its unique land, captivating beauty and sanctuary of cultivated almond trees; an exceptional sight and a truly preserved part of the island.
Exploring the island through various hiking and touring companies is similar to navigating the diverse gaming landscape at Fair Go Casino Log In. Just as Ibiza offers numerous routes for all levels, Fair Go Casino provides a range of games to suit different player preferences, all easily accessible with a simple login, much like downloading a route from the Ibiza Tourism website.
The Glorious Winter Sunsets in Ibiza
A little cloud in the sky over the winter months actually enhances Ibiza’s sunsets, which are even more spectacular than usual. Moreover, the sea and the sky have a much wider spectrum of colours in winter, and the sunsets are more attractive. If you are unfamiliar with Ibiza sunsets, we recommend checking out Es Vedra from Cala d’Hort or up on the cliffs, Cala Comte, Benirras, and even Talamanca for a rather unusual pink sky.
What to do in the Winter: Cultural and Community Attractions
You’ll find plenty of cultural and social experiences to keep your Ibiza winter filled to the brim. Ibiza is renowned for its rich cultural heritage and history, unique and lively artisan markets and great community events.
Dalt Vila, the Old Town and Ibiza’s City Centre
The walled city of Dalt Vila is located in the city’s centre. The best way to experience the town is by wandering its cobbled streets and getting lost among them. During the summer, it is too hot to climb to the top where the monument castle and cathedral reside –– but in winter, it is a delight to discover the many viewpoints overlooking the city, the sea, and Formentera that can be found at various locations. You won’t want to miss the stunning architecture and views this UNESCO World Heritage Site offers!
Ibiza’s Street and Hippie Markets
Street markets are charming places to shop and are one of the most interesting things to do. Various markets, including Sant Jordi market, are interesting places to look for second-hand items. Aside from regular sellers of clothes, costume jewellery, music or books, you can also find plenty of sellers with antiques and collectable jewellery. We also recommend the famed Las Dalias hippy market. At Christmas time, this market puts on its most impressive stalls, welcoming local visitors from all over the island. Sa Forada Market is likewise worth visiting. This market is frequented by locals, and you have lots of local fruit, vegetables and local products.
The Villages of Ibiza
Many white villages dot the island’s interior, imparting a dreamlike quality to the island. Each has little local bars and restaurants where you can find some of the island’s finest and most typical specialities, including fresh seafood, Jamons, and bocadillos. A leisurely stroll around any of these villages, watching the true local spirit, or sitting on terraces with friends and family is the most idyllic way to experience the island’s authenticity.
Santa Gertrudis is one of the most popular villages to visit, with much atmosphere and vibrancy. This traditional village is architecturally styled to perfection, with a recently renovated main square plaza filled with traditional bars and restaurants, such as Macao Cafe, Bar Costa, Musset, and Can Mimosa and a central white and yellow decorated church with matching surrounding lined streets of beautiful terrace housing and apartments –– a much-recommended visit!
What to do in the Winter: Fiestas, Parties and Restaurants
In Ibiza, a ‘fiesta’ way of life is different from the usual party culture you may experience in the summer. Ibicencan culture is notorious for getting festive regularly, whatever the occasion. There are a variety of activities in different villages on the island most months of the year. These festivities often involve market stalls, live music, parades, fancy costumes, sports, competitions, and folk dancing.
Don’t forget the options are still plentiful if you’re looking for that typical Ibiza-style party or something different and more social. Various day events, parties, and club nights are held regularly at Las Dalias and Akasha throughout the year. The Standard Hotel Ibiza is booming with Bingo players every week, and restaurants like Yemanja, Juntos Farm, Club Nautico, and La Escollera are thriving with locals all year round.
Indulge in Seasonal Gastronomy
Savour the flavours of Ibiza’s unique gastronomy, from the traditional Sofrit Pagès at the local restaurants to the delightful Salsa de Nadal, a Christmas dessert made with sugar, almonds, and chicken stock. Explore a diverse array of culinary delights. Whether it’s a Flamenco Night, a laid back Tapas lazy afternoon in Santa Gertrudis or a Middle Eastern Fusion Brunch, Ibiza’s culinary scene promises to elevate your festive experience:
Roto Nights with the most beautiful view of Dalt Vila
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Professional Home Evaluations in Ibiza – Everything You Need To Know Before Selling Your Property in Ibiza
It can be a testing and complex process to sell a home in Ibiza. Nonetheless, if you work with a knowledgeable agent, you can maximise your chances of a successful, hassle-free sale.
Selling a home in Ibiza takes an average of 10 months. However, there are many things you can do to speed up the process with a little strategic planning and smart thinking.
Here is a guide to help you navigate the process of home evaluations and everything you need to know about selling your property in Ibiza.
Is it time to choose a reliable agent to sell your Ibiza property?
You might wonder if you even need an estate agent to sell your Ibiza property – and the answer is: No, you don’t – but you’ll wish you did. It’s not difficult to put up a sales sign and list your property on online portals such as Fotocasa and Idealista. However, working with a professional real estate agency with the right skills, knowledge, and infrastructure will make the whole process much easier – especially when completing a reliable evaluation of your Ibiza home.
You need to find a reliable Ibiza real estate agent to understand the local market dynamics. The demand for various properties, local valuation trends, and factors currently influencing the market, like seasonal fluctuations and increased peak activity, will all be under the belt of an experienced, knowledgeable and trustworthy agent. The best realtors will also take into consideration a property’s legal situation, its location, its immediate surroundings, its age, size, plot, and condition, as well as its style, amenities, and views. In addition, they can offer advice on how to prepare your property for an optimal sale, highlight unique features for increased value, and market it effectively.
Getting ready to sell your home in Ibiza and preparing for an evaluation
Getting a real estate expert to assess your property’s real market value can help you set a realistic sales price, prepare your property to an optimal selling standard, and sell more quickly.
When a realtor visits your property for a valuation, he or she will conduct an inspection to identify any potential issues that may surface during the buyer’s viewing and to forecast a realistic and competitive price for your property.
An experienced real estate agent knows how important presentation is for marketing your property effectively and can offer the best advice on how to portray it. Taking these simple steps will optimise your property’s chance of a decent valuation and quick sale:
(un)Dress the home – remove all personal items, declutter and leave it as minimalistic as possible; add mirrors and plants; redecorate in neutral colours; have it as light as possible; remove any signs of pets or sources of unpleasant smells.
Do the repairs – address any minor repairs or maintenance issues. A well-maintained home is more appealing to buyers.
First impressions matter – ensure your home’s well-maintained exterior, with trimmed lawns, clean driveways, freshly painted façades and attractive landscaping.
Professional photos & videos – Market your property well: have the most impressive presentation by taking the highest quality possible photos and videos to promote your property in its most appealing light (this is often included in the service of a professional real estate agency, especially when you sign an exclusive sales mandate).
The legal requirements for selling your home in Ibiza and the documentation you need
Knowing the legal requirements and having your property’s documentation prepared will ensure that things will run smoothly and fast, with no unpleasant surprises either for the buyer or yourself.
The following is a summary of the information required from the seller in preparation for the signature of the title deed (and ideally already in preparation for placing the property for sale so that potential buyers can have quick answers to questions related to the property’s documentation).
Ideally, you will have:
The Title Deeds to the property
Cédula de Habitabilidad (Valid)
Licencia and/or Final de Obra
Receipts for the local municipal property tax (impuesto sobre bienes inmuebles or IBI)
Copies of latest utility bills
Details of the community statutes (for apartments and gated communities)
A list of any items of furniture, etc, which will be included in the sale
Your residencia card if you have residency status or NIE
An Official Energy Certificate (Certificado de Eficiencia Energetica)
All these documents will help us understand your property’s legal situation, which will both help and impact the valuation process.
Getting a Realistic and Fair Evaluation for Your Ibiza Property
In our role as professional real estate agents in Ibiza, we will compare your property with properties that have been SOLD within the last six months with similar attributes. Market prices are always based on final sales prices. We never compare with properties that are still for sale. A slightly higher price can be tested first and adjusted if needed depending on the owner’s personal idea or timeframe. Keeping a bit of a negotiation margin in mind is also a good idea since clients often like to haggle –– but being open to what the market is willing to offer is always recommended especially if you want things to move faster and not drag on endlessly, risking also that your property will lose its value over time due to overexposure on the market.
Are you ready to sell your Ibiza property?
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.
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 get a free valuation with us today?
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
The Costs of Owning a Property in Ibiza
Buying a dream home in Ibiza is one of the most exciting things you can do. However, buying and owning a property in Ibiza comes with upfront and ongoing costs that all potential and active buyers must be aware of before signing on the dotted line.
It is crucial to consider the upfront costs associated with buying a property, such as the down payment, closing costs, and fees, but mostly forgotten are the ongoing costs, such as maintenance, taxes, insurance, and utilities, that will inevitably occur. A clear understanding of the costs of purchasing a home in Ibiza will help you determine if you are happy with the annual outlay.
You can find our How to Buy a Property in Ibiza guide on our website; written with our buyers in mind and covering all those essential costs to consider when buying a property in Ibiza. But, in the meantime, let’s be clear about the ongoing costs of owning a property in Ibiza, so you know what to expect, once you call Ibiza your home.
The costs associated with Owning a Property in Ibiza
Multiple tax implications are associated with the cost of owning a property in Ibiza, Spain. To own a home in Ibiza, you must consider all tax implications -– so here’s a quick overview that will help you understand these costs.
Understanding Property Taxes in Ibiza for Homeowners
Your IBI (Property Tax)
The IBI (Impuesto sobre Bienes Inmuebles) is a real estate municipal tax on properties in Spain that must be paid each year by property owners in Ibiza – regardless of whether you’re a resident or not.
To figure the amount, the town hall assigns a value to your property known as the cadastral value. This value will be taxed at the same rate approved by each town hall within the specific municipality.
While IBI is charged as a percentage, the tax bill depends on the property’s cadastral value. This rateable value, in turn, is determined by a number of factors, which include the property’s:
Size and location
Construction costs
Title and lease details
Age and condition
Land characteristics
Proximity to public infrastructure
Using this information, the local town hall compiles a report assessing the property’s rateable value and assigning a taxable "valor catastral" to each property in their area. These records are kept by the cadastral registry (which is different from the land registry office).
When purchasing or interested in a specific property, the best advice is to ask your real estate agent for the most recent IBI bill of that property which will show the exact amount applicable for this specific property.
Your Basuras (Waste Collection Tax)
A local charge needs to be paid at the town hall where your property is located for rubbish removal. Each town hall determines the amount due, which varies from place to place. It is imperative to note that it is still necessary to pay for a property even if it is not occupied during the off-season. The town hall has the right to take legal action if payment is not made within a certain period of time.
Typically, the waste collection cost when owning a property in Ibiza is around 90 euros annually.
An Overview of Maintenance Costs when Owning a Property in Ibiza
General Maintenance Costs
All the additional services designed to maintain the property’s general condition and upkeep are included in the General Maintenance bracket. Property owners should expect annual costs of 1-2% of their property value to keep their houses healthy, fully maintained and stable.
These services may cover anything from basic repairs and house maintenance, home improvements, property management services, pest control, security checks, cleaning, gardening and pool maintenance. These include annual agreements, monthly advanced services, and one-off payments for individual services.
Although these extra costs of owning a property in Ibiza may not feel necessary, the overall investment will ensure that the property’s value moves in line with the Ibiza property market trend (up!).
Home Improvements and Renovation Costs when Owning a Home in Ibiza
Property owners who rent their property will have higher maintenance costs, as rentals often require additional services and rental support which tend to arise from more wear-and-tear than non-rental properties. This may mean a higher budget for general yearly maintenance service is needed –– as well as regular home improvements and renovations to keep your home modern and up-to-date.
The purpose of home improvements is not only to enhance the living experience but also to increase the market value of the property and its rental potential. Landscape projects, energy solutions (e.g. solar panels), better water systems, interior improvements, carpentry, ventilation and construction are all great examples of these services and projects that may be noteworthy costs of owning a property in Ibiza.
Larger Renovation Projects
In Ibiza, renovating a property can be a very rewarding experience, allowing you to create your dream home. It is also possible to reap impressive returns from a renovation project if planning and renovation are done properly – although there will be upfront and ongoing costs involved.
Just as there are costs associated with the buying process, there are also costs associated with selling your property. Please check out our Seller’s Guide, which will walk you through all the relevant and associated costs when selling your property in Ibiza.
If you have further questions about the costs of owning a property in Ibiza, why not chat with one of our agents? They can also assist you in finding a suitable property investment or help you list your house on the Ibiza market.
We would love to hear from you!
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Top Things to Do in Ibiza: Exploring Luxury Wellness Spas
Have you experienced everything Ibiza has to offer?
You’ll find lots to do on our island, from its unique beauty to a wide range of culinary experiences to a fantastic nightlife and cultural scene. We recommend that, despite all the excitement and leisurely activities, you incorporate some wellness and relaxation into your vacation to make it truly memorable. Check out Ibiza top-rated spa hotels and retreats to recharge and rejuvenate.
Can Curreu Spa, San Carlos – Ibiza
A spa day pass from Can Curreu is the perfect option for those looking for a relaxing experience in spectacular natural surroundings. This luxury boutique hotel offers a wide variety of facilities to relax and enjoy a day of complete physical and mental decompression. With exceptionally naturally-lit spaces that include a thermal circuit with a sauna, hammam, heated indoor pool with Jacuzzi, sensation bench, cascades, outdoor pool, heated loungers, cold water plunge pool and sensation showers – you’ll be sure to find the full-package here. There is also a gymnasium, massage and treatment rooms, beauty treatments, a hair salon, a solarium, and numerous chill-out areas overlooking the hillside views.
The gastro restaurant serves quality Mediterranean cuisine and is highly recommended if you wish to make a full day of it and go the extra mile. Not to mention that you can also venture out and explore the beautiful San Carlos area on horseback.
Revival Spa by Clarins, Aquas de Ibiza, Santa Eulalia
Inside Aguas de Ibiza hotel, the Revival Spa by Clarins offers a calming, nature-inspired atmosphere. The spa is over 1500m2 in size, dedicated to stimulating your physical, mental, and spiritual harmony through a variety of luxurious treatments. The facilities offer everything from facials, skin treatments, specific treatments for men and women, body treatments, body scrubs, and massages. Here you can indulge and regain your well-being with the finest plant extract products. Much like Can Curreu, Aquas de Ibiza offers signature restaurants with a strong flavour profile of Mediterranean and fusion cuisine for you to enjoy after your spa afternoon.
Safragell, San Lorenzo, Ibiza
Located in one of the most beautiful and authentic areas of the island, Agroturismo Safragell offers an unforgettable place to relax – perfectly situated in a peaceful organic countryside setting.
The spa has a modern thermal circuit equipped with sauna, Turkish Bath, sensation showers, a heated pool with lumbar jets, waterfalls and hydromassage, a cold well, and thermal beds. In addition, they also provide a wide range of professional and exclusive treatments and services to ensure your wellness day is most attentive. Without doubt, a safe bet for a day of well-being and relaxation.
Book Something Out of the Ordinary This Summer in Ibiza With Our Concierge Services
There is nothing quite like having a concierge service to help you create the perfect Ibiza holiday. With us, we guarantee that you’ll get the very best Ibiza has to offer. So if you’re looking for something out of the ordinary and a wellness spa day, then be sure to get in touch – and we will do everything we can to make that happen – simply give us your requirements, and we’ll do the rest.
Of course, as part of our luxury villa management services, we are also able to arrange airport pick-ups, private driver services, yacht charters, boat tours, in-house chefs, catering, grocery shopping, food delivery, yoga, personal training, home spa treatments, massages, home cinema, entertainment, VIP reservations, childcare services and much, much more – all as part of your Ibiza stay with us.
Ready to Search for Your Next Ibiza Luxury Vacation Villa?
With plenty of properties to browse through, we are sure you’ll find the perfect villa vacation rental just for you. Whether you wish to stay in the heart of the action, away from the tourist crowds, close to the beach, or prefer a pleasant country location, everything is possible with us.
For regular updates, recommendations, and experiences, keep up to date with our latest news via our social media pages and blog posts.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Is Ibiza a good place to buy a property?
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!
Spanish Golden Visa 2023: Residency through Property Investment
Spain continues to be a popular place for international buyers thanks to its world-class beaches, rich culture, and property investment opportunities. However, Ibiza’s residency and visa requirements often need to be clarified for non-EU residents.
Thanks to the Spanish Golden Visa program, international buyers who are not part of the European Union (EU), European Economic Area (EEA), or Switzerland can now financially invest in Spain and gain a legal permit – offering the opportunity to secure residency in Spain.
Read on for practical insight, the latest information on obtaining a Golden Visa in Spain, and how we can help you!
What is a Spanish Golden Visa 2023?
Spanish Golden Visas are a residency-by-investment program launched by the Spanish government in 2013 as part of their national strategy to boost their economy and attract foreign investment. Often called Spanish Investor Visas or Spanish Residence Permit Programs, the Golden Visa requires property investors to spend a minimum of €500,000 to qualify.
The Golden Visa allows holders and their families to live in Spain and become permanent residents after five years, with the possibility of becoming Spanish citizens after ten years.
Am I Eligible for a Spanish Golden Visa and Permanent Residency in Ibiza, Spain?
The Spanish government provides residence permits to non-EU, non-EEA, or non-Swiss citizens with a qualifying financial investment in the Spanish economy. Permanent residency is then later possible after five years of living in Spain. However, during those five years, you must show you spent less than eleven months outside Spain.
General requirements for Golden Visa Spain:
Primary applicant must be over 18
You must make the required substantial investment
Criminal records must be clean
Applicants cannot appear on the nation’s undesirables list
Applicants must have valid medical insurance
No previous visa or Schengen entry refusal
Funds are required for applicants to sustain themselves in Spain
How Do I Apply for a Spanish Golden Visa?
Once you buy a property for at least €500,000, you’ll automatically qualify for a one-year Golden Visa. If your investment is still in place during that first year, you’ll have to apply in person for your two-year initial residence permit.
You can apply by following these steps:
Make a qualifying financial investment
Ensure your documents are translated into Spanish and English and legalised as per Spanish government regulations
File the initial application with the Spanish Consulate
Book an interview
Attend a biometric collection session in Spain and wait for final approval
Upon approval, pay the government permit issue fee.
Open a Spanish bank account and NIE
Your visa and residence permit will be issued and valid for one year
Renew your residence permit at the end of year two
Become a permanent resident in year five
Apply for citizenship and a Spanish passport after ten years
What documentation and fees do I need for a Golden Visa application?
You must submit the following documents to apply for a Golden Visa and renew it. It’s wise to check with your nearest Spanish Embassy or Consulate for more information about additional documents in each case.
Here’s what you’ll need:
Completed application
Passport, valid for at least one year, with two blank pages (original and copy)
Recent passport photo
Valid medical insurance (original and copy)
Photocopy and original translation of medical certificate
Your country of origin’s criminal record certificate
Proof of visa fee payment in local currency
Proof of legal residency in the consular district
Proof of the legal representative’s identity and capacity
Financial Guarantee
A financial guarantee of €2,130 per month for two years and a further €532 for each dependent person under their charge is required for obtaining a residence visa. This can be done by submitting originals and copies of your bank statements for the past 12 months, showing deposits and transactions.
Further Documentation for Applicants with Family
All family members must sign the same general documents listed above. Additional marriage and birth certificates and a medical statement proving a child’s dependency if they are over 18 are also required.
Buyers’ Documents
You must include a Property Registry Filing certificate or notarised deeds verifying that the deeds have been submitted to the Property Registry with your visa application.
Applicable Fees
The Golden Visa application fee for real estate investments is currently €1,910. For added family members, the cost is an additional €1,202. After this, there are standard legal costs, typically around €8,000 for a single applicant, €10,500 for a family of four, and an extra €2,500 for each renewal.
Additional Taxes to Consider
Foreign Income Tax, Personal Income Tax (PIT), Capital Gains Tax, and Property Tax are some taxes you must consider when applying for the Golden Visa in Spain.
How Can I Start the Golden Visa Application and Property Search in Ibiza?
With the proper assistance, your residency and relocation are more than possible on this beautiful White Isle. We at Prestige Properties would gladly assist you as an experienced, professional and reliable agency.
If you want to speak with one of our agents about starting your Golden Visa application and the current investment opportunities, 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!
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!
