Living in Ibiza: Life in Santa Eulalia del Río (Santa Eulària des Riu)
Santa Eulalia del Río municipality is one of the island’s most popular places of residency. With an array of beautiful, clean beaches, spectacular forestry, agricultural farmland, charming villages, and a golf course –– it hosts a busy and vibrant atmosphere, with most of its amenities open all year round. It’s most cherished for its family-friendly charm and those wishing to embrace a spirited community all year round.
The central town, Santa Eulalia, boasts a delightful blend of local traditions and cosmopolitan influences, with a harmonious mix of longtime native residents and international newcomers. This cultural fusion creates a trendy ambience, ensuring Santa Eulalia remains a much-beloved destination.
Santa Eulalia del Río: The Most Trendy Family-Friendly Town on the Island of Ibiza
Santa Eulalia Town was previously more dated, upholding much of its original 1960s and 1970s appeal. However, although many ‘older’ traditional Ibicencan stores, restaurants, and bars are still scattered throughout the town and operate successfully, a surge of modern projects, 5-star hotels, boutiques, and trending social spots has rapidly started to emerge and continues on an upward trajectory.
Recent investments in the town, including many brand-new apartment complexes, alongside an influx of classy cafes, bars, and restaurants, have begun to label Santa Eulalia del Río as a trendy area for young singles, couples, families, and fashionable crowds. Although not yet quite as renowned as some of the most popular areas of San Jose and the south, these recent developments are increasing the town’s up-market status, enhancing its desirability among more affluent clientele and property buyers.
Santa Eulalia del Río: A Casual Cosmopolitan Lifestyle
The beautiful town of Santa Eulalia del Río offers the perfect blend of modern-authentic white-washed architecture, contemporary new-builds (predominantly along the seafront promenade), winding cobbled back-streets, beautifully paved plazas, a central town hall with a lengthy waterfall feature, and scattered sculptures and monuments throughout. Everything one could need, from retail to food, sports, gymnasiums, yoga and pilates studios, supermarkets, pharmacies, restaurants and bars, is in the many, with plenty of diversity to suit all.
Over the past few years, a fresh selection of inviting spots to enjoy elegance and style has arrived, creating a casual cosmopolitan lifestyle for locals and tourists day and night. Here we find many new trending eco-friendly and bio-health shops, juice bars, vegan and vegetarian restaurants, including the brand new VE-Cafe, artisan bakeries, and coffee baristas, like the award-winning, ethical Spanish Speciality Coffee Roasters, Meke Cafe, as well as a few additional fine-dining eateries.
Additionally, the brand new W Hotel has brought a 5-star luxury experience to the previously quieter and more authentic end of town. With a matching stylish beachfront restaurant, Chiringuito Blue, which sits adjacent to the hotel exteriors, and some regular sunset and evening parties with A-list resident DJs, W-Hotel has undoubtedly strengthened the town’s overall high-end social expectations.
However, the W-Hotel is not the first 5-star promenade hotel in Santa Eulalia del Río. At the opposite end of town, on Santa Eulalia Marina Port, where you will find a multitude of spectacular yachts and sailing boats, lies the grande luxe Aguas de Ibiza. The recently extended hotel, with its high-class suites, offers an incredibly sleek and modern design, a beautiful underground wellness spa, and numerous cocktail, pool, and chill-out zones. Their brand new roof-top terrace restaurant, Maymanta, claims to be the best gastronomical experience in Ibiza, serving fine-dining Peruvian cuisine with outstanding views across the marina and Santa Eulalia town.
Santa Eulalia del Río: The Beaches
Santa Eulalia Town sits perfectly on the waterfront, spanning three beaches, lined by its stunning palm-filled and night-lit promenade. In the summer, the town’s beaches are naturally bustling with tourism but are never too overwhelming, offering plenty of personal space and freedom to move around. The soft sands and shallow turquoise waters are perfect for swimming and safe for younger children, with regular lifeguards monitoring the area. Santa Eulalia is proudly the first and only smoke-free beach in Ibiza, ensuring an environmentally friendly and pleasurable place for all.
For those who wish to experience full relaxation and a little luxury, a spread of boho-chic beach chiringuitos further down the promenade, slightly past the main town plazas, offer full waiter services with lined sunbeds, personal towels, and parasols.
Evening strolls along the promenade are the perfect way to end the heat of the day during the height of the season. The relaxed night scene comes alive with many independent bars and restaurants serving a fantastic array of global and healthy cuisine, boasting seafront and attractive atmospheres.
In those quieter out-of-season months, the clean white sands are often dotted with local children playing whilst their parents relax and soak up the last few hours of the evening winter sun over coffee. It is not unusual to see regular skaters, rollerbladers, cyclists, and runners taking advantage of the quiet winter promenade, all while overlooking the beautiful views towards the mountain of Siesta.
Outside of the town, the municipality of Santa Eulalia del Río in Ibiza boasts diverse beaches, each offering its unique charm. From the golden sands of Cala Llonga to the tranquil coves of Cala Nova and Cala Martina, a beach suits every preference. Families flock to the calm waters of Es Canar, while surfers and water sports enthusiasts gravitate towards the waves of Aguas Blancas and Cala Mastella. For those seeking seclusion and serenity, the hidden gems of Cala Olivera and Cala Boix provide the perfect escape. Whether you’re searching for vibrant beach bars or secluded coves, Santa Eulalia del Río has a beach to cater to every taste.
Walking Santa Eulalia del Río
Venturing around the town of Santa Eulalia del Río offers so much more than first meets the eye. To explore the urban side and beach promenade is a relaxing stroll that can be undertaken in around an hour or so, and will also cover all those back streets with its little unique boutique fashion stores and restaurants. However, if you want to go further afield, there are also plenty of natural coastal paths, little greenery areas at the mouth of the sea, and wonderful authentic walkways leading to the outstanding mountain-top of Seista with beautiful Mediterranean Sea views. These quieter and relatively unknown spots can be easily reached directly from the town centre on foot and are perfect for a relaxed afternoon out in nature, whether with the family, groups of friends, or strolling with a pet.
The area of Santa Eulalia is marked by its central white church, "Puig de Missa," which sits 52 meters above sea level and offers breathtaking views across the town and over onto the mountainside village of Siesta. Although the climb to the top is quite steep on foot, the views and quaint church are well worth the visit, even if only by car.
Alongside the 300-metre long white sand beaches of Santa Eulalia del Río sits the beautiful close-by beaches on the north-east coast, including Cala Pada, Playa Niu Blau, Cala Martina, Es Cana, Cala Nova, and Cala Llenya. These wonderful, family-friendly and humble spots, which rest in spectacular beauty and tranquillity, all run along one long coastal path to the town of Es Cana and onto the final two beaches. Although it is a long journey from one end to the other, nothing is stopping a shorter walking adventure to any one of these local beaches before returning to the main town. The views and coastal walkway are highly recommended and are one of the very best in the area.
The Santa Eulalia area in Ibiza offers many picturesque hiking trails, allowing outdoor enthusiasts to explore the island’s stunning natural beauty. One popular route begins in the charming village of San Carlos, leading hikers through lush pine forests and along rugged coastal cliffs to Cala Mastella. Another favourite is Pou des Lleó, where visitors can trek along coastal paths dotted with ancient watchtowers and secluded coves, immersing themselves in the island’s rich history and scenic landscapes. With trails catering to all skill levels and interests, exploring the Santa Eulalia area on foot promises an unforgettable adventure amidst Ibiza’s natural wonders.
Santa Eulalia del Río offers many opportunities for families, couples, high-profile apartment seekers, and buy-to-rent clients. Potential home buyers are often encouraged to look beyond the well-sought-after areas and onto the neighbouring spots, which offer incredible opportunities to maximise value for money. Buying a property in Santa Eulalia town offers a blend of authentic whitewashed architectural homes alongside many modern villas and some of Ibiza’s most desirable newly built apartments.
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Living in Ibiza: Life in Talamanca, Ibiza
Talamanca, a small resort near the city centre, offers a chic and cosmopolitan lifestyle for both long-term residents and visitors. It’s famous for having Ibiza Town’s most popular beach, Talamanca Bay, and is just a stone’s throw from the luxe Marina Botafoch, known for its stunning yachts. The area is dotted with luxury high-rise and penthouse apartments, alongside an array of top-notch restaurants, shops, bars, and hotels.
Ibiza Town’s vibrant centre is a mere 20-minute walk away, offering easy access to its rich cultural scene. In the other direction, a 15-minute stroll will take you to the trendy village of Jesús, home to a selection of fine bars and restaurants.
Talamanca, Ibiza: The Beach
Talamanca Bay features an expansive beach stretching over 900 metres, making it the largest in the municipality. Its generous width accommodates crowds comfortably, even in peak season, and a wooden boardwalk facilitates an easy stroll from one end to the other. The beach is favoured for its safe, shallow waters and shelter from the wind, making it an ideal spot for swimming, kayaking, and pedal boating. It’s conveniently accessible and well-equipped with amenities like bathrooms and lockers, perfect for those looking to enjoy a morning run or sunset yoga session on the promenade terrace.
Lining the beach, various top-notch bars and restaurants remain open throughout the year, catering to every taste. In the height of summer, the beach attracts a diverse crowd, from sun-seekers to those embracing a cosmopolitan lifestyle, yet it maintains its pristine condition and bohemian charm. Despite its popularity among tourists during the busy season, Talamanca Beach is also a beloved spot for locals, who frequent it all year round.
Talamanca, Ibiza: Lifestyle & Tourism
Over time, Talamanca has transformed into a luxurious destination, boasting exclusive boutiques, trendy restaurants and hotels, a marina filled with superyachts, a sophisticated coffee scene, the premier casino in Ibiza, and the extravagant Las Boas de Ibiza Apartments, noted for their rainbow-coloured balconies designed by celebrated architects.
Initially, Talamanca’s appeal was mainly to clubbers who enjoyed the day on its soft, white sandy beaches and explored Ibiza Town’s vibrant nightlife, including the world-renowned Pacha Ibiza superclub, which is just a ten-minute walk from Talamanca Bay. However, Talamanca has evolved far beyond its original allure, establishing itself as a refined and affluent area that attracts residents and visitors alike.
Talamanca, Ibiza: Insiders Recommendations
On the more luxurious end of the dining spectrum, the Nobu Hotel Ibiza offers a lavish setting adorned with natural wood and handmade ceramics, capturing the island’s vibe and attracting numerous visitors from the nearby Marina Botafoch. This 5-star hotel, co-owned by actor Robert De Niro, prides itself on top-notch service, excellent facilities, and diverse dining options. Among these is the internationally acclaimed Nobu Restaurant, renowned for its distinctive signature Japanese cuisine. The hotel’s poolside lounge bar provides an idyllic spot for sipping an aperitif or cocktail, while Chambao offers a relaxed beach Chiringuito vibe, serving fresh seafood and delicate Mediterranean dishes. Additionally, The Bay Cafe is a serene spot to enjoy super-healthy smoothies, salads, brunch snacks, gluten-free choices, and tapas throughout the day.
Destino, a stunning open-air restaurant and luxury hotel owned by the Pacha Group, is situated at the northeastern tip of Talamanca Bay in Cap Martinet. It boasts incredible views of the Mediterranean Sea, Formentera, and the UNESCO World Heritage Site of Dalt Vila and Ibiza Town. Destino is the epitome of elegance with its sophisticated ambience, open-air entertainment, and a selection of cocktails and exquisite food paired with a thoughtfully selected music program.
A short walk from Talamanca Bay is the exclusive eateries of Marina Botafoch, where luxury and fine dining meet. The area is lined with high-end establishments like the Ibiza Gran Hotel, Casino Ibiza, Hotel Pacha, and Club Chinois Ibiza, all set against the breathtaking backdrop of the promenade, offering unobstructed views of Dalt Vila across the Mediterranean. Marina Botafoch is a magnet for VIPs on the island, featuring upscale restaurants, cafes, and bars such as Blue Marlin Marina, Lio, and IT Restaurant, making it a key destination for those seeking luxury and exclusivity.
Talamanca is home to a stunning array of contemporary villas that blend authentic and modern Mediterranean designs. The area is also known for its large selection of new, fully secured apartment complexes, with more developments evolving. Apartment prices in Talamanca average around 8,500 euros per square metre, with average sales prices sitting around 1.5 million euros. The spacious villas in the area, many of which boast spectacular sea views, are particularly attractive to buyers seeking a lifestyle or vacation home, as well as to individuals and retirees seeking a peaceful life in this part of Ibiza Town.
Talamanca is especially appealing to those desiring properties near Ibiza Town, offering easy access to pristine scenic spots and beaches. It provides a family-friendly environment, local amenities, and fashionable spots ideal for summer enjoyment. While Talamanca buzzes with energy during the summer, it maintains a laid-back city atmosphere year-round, enhanced by its prime seafront location and breathtaking views.
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Living in Ibiza: Life in Sant Joan De Labritja (San Juan Bautista)
In Ibiza’s northern municipality of Sant Joan de Labritja, you’ll find some of the island’s most breathtaking countryside and natural wonders. Whether you’re a visitor or a local, there’s something truly special about immersing yourself in the area’s stunning beaches, epic nature excursions, and sweeping vistas. Tucked away within this scenic landscape is the charming village of San Juan, where tranquillity and a unique culture await. With its quaint whitewashed buildings and traditional architecture, San Juan exudes an old-world charm that’s hard to resist. And let’s not forget about the village square, bustling with cosy cafes and local eateries serving up the best of Mediterranean cuisine. But San Juan isn’t just about pretty views and delicious food – it’s also a window into Ibiza’s rich cultural heritage. From historic landmarks to lively festivals celebrating local traditions, there’s always something fascinating to discover. So, if you’re craving a getaway with a special ambiance, San Juan promises an unforgettable escape into Ibiza’s untouched beauty. It’s no wonder this area has caught the attention of celebrities and elites alike!
The Village of Sant Joan de Labritja, Ibiza
If you’re looking for a truly unique spot to explore on the island, you’ve got to check out the village of San Juan! Nestled atop a gentle slope, this charming little village is like something straight out of a storybook. Picture-perfect white-washed houses with iron balconies and vibrant wooden doors line its quaint cobblestone streets, filling the air with the delightful scent of Mediterranean botanicals and charming gardens. A stunning white church stands proudly in the centre against the backdrop of rustic pine-covered hills. Surrounding it, you’ll find a treasure trove of boutique restaurants, cosy local bars, and charming shops. As you stroll through the streets, don’t be surprised if you hear the cheerful chatter of locals enjoying their morning coffee or going about their daily routines – that’s all just part of the village’s welcoming charm.
In fact, the village has innocently retained much of its original community spirit from the 60s and 70s. One of the very few places left on the island where time seems to have stood still and a strikingly peaceful culture resounds like wind among the trees. Although small, the possibilities offered by this beautiful village are numerous, especially during the height of the season, which are surprisingly a lot more trendy than may first meet the eye -– here’s why!
Sant Joan de Labritja Sunday Market: A Culturally Trendy Hotspot in Ibiza
If you happen to pass through San Juan village during the quieter season or early summer, you might think it’s pretty laid-back and not much going on. But don’t let that fool you! Every Sunday, all year round, this little village comes alive with one of the island’s most famous events: the weekly artisan market. Starting back in 2012, this market has been a hit ever since.
Here, you’ll find crowds flocking in from all over to soak up the lively atmosphere. It’s a real melting pot of cultures, ages, and tourists alike. Despite its tranquil vibe during the week, San Juan turns into a bustling hub on market days. The streets overflow with live music, mouth watering street food, and rows of colourful stalls offering everything from local produce to handmade crafts, unique jewellery, and even healing crystals. You name it, they’ve got it: artisan gifts, leather goods, organic bread, Hierbas liqueurs, and plenty of bohemian fashion to browse through. And let’s not forget about the local art scene – there’s no shortage of talent on display here! So, if you’re ever in San Juan, be sure to swing by the market on Sunday and soak up the vibrant atmosphere. It’s an experience you won’t want to miss!
Gastronomy and Restaurants in San Joan de Labritja, Ibiza
Sundays are where the streets are bustling with life and vitality, giving a true reflection of the local Ibizan spirit. If you’re not enthused about joining the crowds perching themselves on the edge of the street, or in front of the central village church steps (enjoying street food paella with a takeaway beer from the local bar), then you must come prepared beforehand. The village restaurants on a Sunday are almost always fully booked or heaving with customers waiting at the doors, attempting to get a spot of lunch.
The village hosts some fantastic, modern, and high-standard cuisine restaurants, including a traditional bar, two boutique hotels, and vegetarian-only options, which is often less common for smaller authentic villages. Again, during the height of the season it is wise to prepare and make sure you have your table reserved, no matter the day of the week.
Bistro Mondo is your go-to spot for delicious, wholesome dining, offering a unique fusion of global comfort food with a local twist. With a commitment to using ingredients sourced from Ibiza’s small farms and fisheries, their menu reflects the diverse flavours of the world while championing plant-based options and sustainably caught local fish. Whether you’re craving tapas from Spain, pasta from Italy, or a classic French bistro dish, their ever-changing menu promises to delight with the freshest seasonal produce. Here, you can dine in their shaded garden oasis, which doubles as a venue for special events such as their signature 100% natural sourdough pizza nights, featuring local ingredients and Xeixa flour, along with movie nights.
You can’t miss the charming Giri Cafe, right in the heart of the village – it’s a total hotspot, especially for foodies. This place, in the same signature style as their eponymous hotel, The Giri Residence, is well known as one of the top culinary treasures in the north of the island. Their philosophy? Simple: serving up the best quality food made with fresh, local, and seasonal ingredients. And, their menu is a flavour explosion – packed with goodness and vitality. From the outside, it might look like a small boutique restaurant. But step inside, and you’ll be blown away by the hidden gem they’ve got out back: a lush secret garden courtyard for dining. It’s like stepping into a little slice of paradise!
Sabores Naturales is a vegetarian cafe with a modest and authentic style. Their fresh vegetarian menu gives a feeling of visiting grandmother’s kitchen for a home-cooked meal and is one that will keep you returning again and again for more. Beware, they are one of the busiest spots every Sunday!
Remember, Sunday is not the only significant time to book yourself into any of these popular restaurants. Despite being one of the furthest points north, residents and tourists will travel to spend blissful summer evenings dining under the moonlit skies just to get a taste of the unique atmosphere and delicious culinary menus on offer in San Juan.
Festivals in Sant Joan de Labritja – La Fiesta de San Juan – St. John’s Festivities in June
Sant Joan de Labritja or San Juan Bautista (the Castellan version), directly translated in English means Saint John the Baptist. For this reason, you may hear the term St. John’s Festivities (Festes de Sant Joan / Fiestas de San Juan), which is the annual village celebration. On the night of June 23rd, the village attracts multitudes to celebrate this extravagant evening of firecrackers and bonfires. The tradition is thought to scare away evil spirits and eradicate all the bad from our past through the act of jumping over bonfires, and into a new cleansed rebirth before the beginning of summer. Usually, the local Ibizan community takes part in a traditional mass ceremony, then later a street parade throughout the entire village with loud music, folk dancing, fancy dress costumes, fireworks, market stalls, children’s entertainment, and plenty of food and drink is on offer for one big party. And yes, people are still jumping through bonfires as holy-fire all-night long as part of the fun!
Celebrity Appeal of Sant Joan de Labritja, Ibiza
The village’s almost nostalgic lifestyle has drawn considerable attention from celebrities. While not necessarily in the village itself, the surrounding municipality and countryside of San Juan offer a lifestyle of privacy and tranquillity far removed from the island’s tourism bustle. Notable figures like Jade Jagger are drawn to the area, with her familial connection stemming from her father’s frequent visits to the island, particularly during the 1960s and 1970s.
Typical Properties for Sale and Clientele in Sant Joan de Labritja, Ibiza
In the municipality of San Juan, the average price per square metre stands at €10,471.99 (2024), making it the highest on the island and one of the few municipalities experiencing a consistent upward trend over the years. It’s worth noting that properties in this area are always in high demand and relatively scarce.
Typical properties in San Juan often consist of properties situated on large plots of land, often with protected status and very few neighbours. This scarcity and desirability contribute to the premium prices observed in the region. Additionally, San Juan appeals to affluent buyers seeking expansive properties or rental opportunities for agricultural pursuits, thanks to its secluded and serene environment. Moreover, its proximity to pristine beaches adds to its allure, making it an attractive destination for those seeking both tranquillity and natural beauty. To buy a property in San Juan is to desire rustic culture and a humble community lifestyle.
[Updated on the 20.03.2024]
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Ibiza & Balearic Island Real Estate Market Report 2023 & Forecast 2024
As anticipated in our 2022 Market Report and forecast for 2023, the Ibiza real estate market experienced a modest decline in sales over the past year. This decrease can be attributed to various factors, including the global economic slowdown, geopolitical tensions such as the conflicts in Ukraine and the Middle East, and financial uncertainties stemming from inflation and rising interest rates. Despite these challenges, it’s important to note that the market has demonstrated resilience and stability.
Even with a slight dip in demand, the market has maintained a balanced outlook. While asking prices have shown an increase across the Balearics (according to data provided by Idealista), actual sales prices here at Prestige Properties Ibiza have demonstrated a decrease compared to the previous year, as evidenced by municipality prices per square metre where 4 out of 5 municipalities have experienced a decline. This suggests a potential adjustment in asking prices in the upcoming year to align with market trends observed in 2023. However, overall the Ibiza real estate sector remains robust and adaptable. Looking ahead, let’s take a closer look at our 2023 Ibiza real estate market report and predictions for 2024. Please note that this report uses internal and external data to present information on the property market in Ibiza and the Balearic Islands for 2023, along with its projected forecast for 2024.
The analysis covers the following three topics of discussion:
The Balearic Islands’ Housing Market Report for 2023
The Ibiza Luxury Housing Market Report 2023 by Prestige Properties
Predicted Forecast for 2024 by Prestige Properties Ibiza
1) The General Balearic Islands’ Housing Market Summary of 2023
The Balearic Islands have shown impressive resilience over time, as depicted in the graph below. Despite experiencing slight declines in buying / selling and property prices in 2023, the consistent pattern of rebounding after each crisis offers reassurance for long-term investors. This trend underscores the Balearics’ reputation as a secure and enduring investment destination, with the market consistently surpassing pre-crisis levels over the past decade.
2) The Ibiza Luxury Housing Market Report 2023 by Prestige Properties
As anticipated towards the end of 2022, the beginning of 2023 saw a decrease in sales, primarily due to the prevailing global economic sentiment of stagnation and a limited availability of sellers in the market.
As we can see from the graph above, the sales volumes over the past five years seem to mirror broader global economic trends: a decline in the pre-COVID years, followed by a significant surge in the post-COVID years of 2021 and 2022, and now a slight downturn. It remains to be seen whether the 2023 downturn will stabilise or if it will lead to a prolonged downward trend, or whether it is just a short-lived dip. Monitoring the market closely will provide clarity on its trajectory moving forward, but nevertheless, in comparison to 2018, the past year still has a 36% increase in sales volume. Even with a dip in sales volume over 2023, the average asking price per m2 across the whole of Spain, the Balearic Islands and Ibiza has demonstrated a steady increase.
The graph above illustrates an overall significant price increase in Spain, the Balearic Islands, and Ibiza from 2022 to 2023. However, it’s essential to clarify that these prices are based solely on advertised asking prices from the national Idealista property platform, not actual sales prices. For real sales price development in Ibiza, please refer to the graph further down in the report.
The two graphs above illustrate a slight decrease in sales inquiries (demand) alongside a significant increase in the number of properties listed for sale (supply). This indicates a gradual transition from a low supply/high demand market in 2022 to a higher supply/lower demand scenario. Despite this shift, we are still currently in a sellers’ market. The developments in the coming year will determine whether a shift towards a buyers’ market is occurring, if this trend will stabilise, or if it is merely a temporary dip. Although the 2023 data suggests the beginning of a new trend, the next two years will be pivotal in providing more insight and certainty. Monitoring and understanding the market during this period will be crucial in determining whether this shift is permanent or temporary.
Average Price per Square Metre per Municipality in Ibiza in 2023
As mentioned earlier, the change in the balance between supply and demand signals a shift in the market. Furthermore, there has been a decrease in the average price per square metre on the island, indicating a move away from a seller’s market. These figures differ from those presented by Idealista, which primarily focused on asking prices. In essence, property owners may need to reconsider their price expectations. However, this could also present an opportune moment for them to sell their property and capitalise on the evolving market conditions, potentially transitioning towards a buyer’s market.
In general, even with a decrease year-on-year we still can see an overall increase of 17% within a 5 year period (2018-2023). We have noticed a dramatic increase in demand for the municipality of San Antonio, where the average price per square metre has increased over the last few years, although it remains the most affordable municipality on the island, with many rewarding opportunities for buyers.
Eivissa (Ibiza Town) – Average Price & Price per m2 in 2023
Ibiza Town accounted for around 13.4% of our sales volume in 2023. Although the capital’s average price per square metre of 6.268,97 € was slightly lower than in 2021 and 2022, it was still significantly higher than five years ago (20% higher). The most important type of property in the capital was the apartment. In 2023, the average size of an apartment was 73 m2. The houses sold by Prestige Properties in Eivissa in 2023 had an average size of 456 m2 and an average price per m2 of 5,498€.
Sales Volume: 13,41 %
Average Price: 919.700,00 €
Average Price/m2: 6.268,97 €
Average Property Size: 149,75 m2
Typical Property Types: Apartment and House
Municipality
Avg. Sales Price
Avg. PRICE X M2
Eivissa
919.700,00 €
6.268,97 €
Apartment
532.100,00 €
6.526,10 €
House
2.082.500,00 €
5.497,59 €
San José – Average Price & Price per m2 in 2023
As in previous years, San José is the municipality with the greatest interest and volume of sales, high in demand among affluent luxury second-home buyers. It is one of the few municipalities where the average price per square metre is still increasing, even slightly higher than in 2022, with an average of 8023.74 € per square metre. This area accounts for 41.62% of the Prestige Properties’ sales volume in 2023. In addition, it has the greatest mix of properties sold on the island. With apartments, houses and modern villas being the most prominent.
Sales Volume: 41,62%
Average Price: 1.869.230,77 €
Average Price/m2: 8.023,74 €
Average Property Size: 246,62 m2
Typical Property Types: Apartment, Finca, House, Modern Villa, Plot with licence
Municipality
Avg. Sales Price
Avg. PRICE X M2
San Jose
1.869.230,77 €
8.023,74 €
Apartment
466.250,00 €
5.394,53 €
Finca
2.750.000,00 €
13.033,18 €
House
2.227.500,00 €
11.275,61 €
Modern Villa
3.058.333,33 €
6.913,14 €
Plot with licence
1.600.000,00 €
3.855,42 €
Santa Eulalia – Average Price & Price per m2 in 2023
In 2023, the average price per square metre in Santa Eulalia was €6,293 . This price is 23% lower than last year (2022: 8.185 €). However, even with this drop, Santa Eulalia has seen an average of 1.7% increase in its price per square metre since 2018, returning to stable pre-covid and pre-boom levels. Santa Eulalia accounted for almost 30% of our total sales volume in 2023, placing it at second place after San José.
Sales Volume: 29,78%
Average Price: 2.173.350,00 €
Average Price/m2: 6.293, 28 €
Average Property Size: 297,63 m2
Typical Property Types: Apartment, House, Modern Villa
Municipality
Avg. Sales Price
Avg. PRICE X M2
Santa Eulalia
2.173.350,00 €
6.293,28 €
Apartment
824.200,00 €
4.562,94 €
House
995.000,00 €
3.934,89 €
Modern Villa
6.000.000,00 €
9.803,92 €
San Antonio – Average Price & Price per m2 in 2023
At Prestige Properties we have seen the interest in the municipality of San Antonio grow over the years. It is still the most affordable municipality in Ibiza, with many rewarding buyer opportunities. While in 2018, Prestige Properties sold no properties here, in 2023 it represented 9.21% of our sales volume. The average price per square metre is €5,202 which represents a 20% increase from 2019 figures.
Sales Volume: 9,21%
Average Price: 767.928 €
Average Price/m2: 5.202 €
Average Property Size: 137,57 m2
Typical Property Types: Apartment, House
Municipality
Avg. Sales Price
Avg. PRICE X M2
San Antonio
767.928,57 €
5.202,92 €
Apartment
455.100,00 €
4.207,89 €
House
1.550.000,00 €
7.690,48 €
San Juan – Average Price & Price per m2 in 2023
In the municipality of San Juan, the average price per square metre is €10,472, the highest on the island and one of the few municipalities where the price per square metre has been rising steadily over the years. The average price/m2 in San Juan has seen a staggering 42% increase since 2018. It should be noted that properties in the north are scarce. Typical properties in the north are houses with large plots and protected land, with few neighbours, which is one of the reasons for the high prices. The municipality of San Juan accounted for around 6% of our total sales volume in 2023.
Sales Volume: 6%
Average Price: 1.625.000,00 €
Average Price/m2: 10.472 €
Average Property Size: 137,57m2
Typical Property Types: House, Finca
Average Sales Price of each Property Type in Ibiza
Avg. Price
Property Type
2018
2019
2020
2021
2022
2023
Apartment
344.250 €
608.333 €
427.500 €
628.755 €
589.778 €
559.468 €
Finca
1.500.000 €
2.950.000 €
ND
3.153.000 €
2.915.714 €
2.750.000 €
House
1.558.809 €
1.712.647 €
1.650.596 €
2.323.569 €
1.555.384 €
1.784.583 €
Modern Villa
5.400.000 €
2.200.000 €
3.841.666 €
2.970.000 €
4.683.750 €
3.793.750 €
Plot with licence
ND
ND
800.000 €
445.000 €
1.425.000 €
3.850.000 €
Plot without licence
570.000 €
1.100.000 €
ND
871.666 €
ND
ND
Avg. Price
1.342.468€
1.616.956 €
1.793.291 €
1.979.464€
1.474.321 €
1.517.628 €
Deep Dive: Average Sales Prices of Properties that are "as new" vs "to renovate"
In 2023, Prestige Properties sold more new properties than those slated for renovation. Naturally, renovated properties typically command lower average selling prices; however, the difference per square metre between new and renovated properties is modest.
New properties are scarce in Ibiza due to limited space, stringent building regulations, and laws limiting new construction on the island. Consequently, Ibiza is appealing to buyers and investors seeking properties to renovate and resell.
Deep Dive: Reasons for Buying a Property in Ibiza
Ibiza has consistently proven itself as an exceptional investment destination, drawing interest from numerous international investors in recent years. The predominant choice among these investors has been acquiring second homes, either for leisurely holidays or as a respite from the chilly northern winters. In the year of 2023, this trend persisted, with an overwhelming majority—nearly 75%—of our clients opting for properties earmarked as their secondary (holiday) residences.
A noteworthy 14.7% of investors have strategically chosen properties for pure investment purposes, underlining the island’s allure for those seeking financial returns. Equally compelling is the fact that approximately 12% of Prestige’s clientele has chosen to invest in their primary homes, reflecting a genuine commitment to relocating, residing, and engaging in year-round endeavours within the vibrant and captivating landscape of Ibiza. The diverse preferences of our clients continue to underscore the island’s multifaceted appeal and enduring investment potential.
Deep Dive: International Interest and Percentage of Nationalities Buying in Ibiza
Ibiza attracts a diverse mix of cultures, with a significant portion of buyers hailing from European backgrounds. While the United Kingdom has traditionally been a major source, the event of Brexit saw a sharp decline in UK buyers during a period of time, however, in 2023 we see the UK buyers reclaiming their traditionally strong market share in Ibiza’s international clientele, comprising 24.4% of our buyers. However, we have also seen a shift in spending amongst UK buyers, with an increased preference for apartments as opposed to larger properties. This is reflected in the fact that UK buyers represented only 15.05% of our total sales volume.
There has been a notable increase in Spanish and Italian buyers in recent years, signalling a changing dynamic. Spanish nationals emerged as the second-largest group of buyers in 2023, accounting for 19.03% of the annual sales volume across houses, apartments, and plots with licences.
Belgian buyers, constituting 9.8% of our clientele, demonstrated the highest average spending in 2023. This discerning group contributed 18.65% of the total sales volume, showing a preference for larger properties intended as second homes. The evolving demographics of our buyers underscore the broad appeal of Ibiza and the diverse preferences shaping their investment decisions.
Deep Dive: Popular Ibiza Municipalities by Buyer’s Nationalities
In 2023, San José emerged as the top performer in terms of sales volume, accounting for 41.62% of total sales. This area has become a magnet for people of various nationalities. At Prestige, we’ve observed that it’s the most sought-after location on the island, particularly drawing the interest of investors. Meanwhile, San Antonio’s popularity has been steadily increasing over the years. Similar to 2022, in 2023, the majority of buyers were from the UK. San Antonio has become a favoured destination for UK nationals, particularly those who enjoy spending their summer vacations in Ibiza.
Deep Dive: Prestige’s Top-Selling Locations of the Year 2023
Based on the Sales Transaction Volume, the top-selling municipality in 2023 was San José, followed by Santa Eulalia and Eivissa (Ibiza Town). Considering the actual number of properties sold in each municipality, the order changes to San José (31%), Ibiza Town (24%), Santa Eulalia (19%), San Antonio (17%) and San Juan (8%).
Long-Term Rental Interest: an indicator for potential buyers
Amidst limited availability and heightened demand for long-term rental properties, Ibiza persists as a lucrative investment destination for clients pursuing buy-to-let opportunities. Furthermore, for people interested in living here all year round or relocating to Ibiza, buying a property will be more attractive and, with the right budget, easier to find than a suitable long-term rental property.
High Demand vs. increasing supply – is the market changing?
In contrast to previous years, where there was a decline in property supply, Prestige Properties has seen a significant shift in supply dynamics in 2023. The number of new properties listed with Prestige Properties increased notably by 38% compared to 2022. This trend is expected to continue into 2024, indicating a growing trend among sellers to take advantage of favourable market conditions. Amid increasing financial uncertainty and a slight decrease in sales prices, sellers are encouraged to consider selling their property now to capitalise on the current high price levels. At the same time, for prospective buyers, the expanding supply of properties offers a wider range of options to choose from, making the Ibiza real estate market more attractive.
Conclusion: The Luxury Real Estate Market Ibiza 2023
Amidst global challenges, geo-political developments and financial uncertainty, the Ibiza luxury housing market is still flourishing. As one of Europe’s most popular holiday destinations, there is a high level of interest in investing in a property here. It is well known that the Balearic Islands have a very stable real estate market with the tendency to increase prices and rebound even stronger after a global economic crisis.
We can also see that the trend continues, and Ibiza’s average price per square metre is still higher than the overall price per square metre of the Balearic Islands or the Spanish mainland.. Furthermore, the property supply is gradually increasing again, leaving the impression that the market might shift from a buyer’s to a seller’s market in the future.
3) 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.
Sales in the Ibiza real estate market for the year 2024 are anticipated to stabilise, with an observable increase in the number of properties available on the market. This trend may persist, leading to a greater inventory of properties in the following year. Despite this, the current market conditions suggest that it remains a favourable time to sell properties in Ibiza, as prices are currently high. However, the trajectory of future prices is still uncertain, and whether they will stabilise or experience a decline cannot be confirmed yet.
Historically, Ibiza’s real estate market has exhibited resilience, with prices recovering and often surpassing previous levels after experiencing a drop. This characteristic makes the market in Ibiza intriguing for long-term investors who may view potential downturns as opportunities for future gains.
For those considering buying property in Ibiza, the island’s real estate market has demonstrated its ability to bounce back after crises, distinguishing itself from mainland Spain and other real estate markets. Ibiza’s multicultural environment, coupled with a high demand for luxury properties and holiday homes, further enhances its attractiveness for both sellers and buyers.
It is currently a favourable time to sell due to high prices, and potential buyers may find opportunities, given the increase in available property, the historical resilience of the market and the island’s unique appeal.
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!
Living in Ibiza: Life in Es Cubells
Es Cubells is an extraordinary spot with a unique history, authenticity and breathtaking scenery. Even though the quaint village might be the smallest on the island, it remains a leader in vacation villa rentals and luxury property sales in Ibiza. In the sphere of exclusivity, Es Cubells is unbeatable, offering some of the most impressive and sweeping panoramic views.
Add button with link to Es Cubells location page "All properties currently for Sale and Rent in Es Cubells"
One of the Most Traditional and Authentic Villages in Ibiza, Es Cubells
Es Cubells is a small novel-like village that unfolds around a central traditional white Ibicencan church –– gracefully perched on the cliffside. Here, just in front, a charming square takes position and embraces the essence of a typical Ibizan living. There are only two cosy local bars with genuine character and an authentic menu, a modest grocery store, and a humble cultural centre that reflects the village’s heritage. Adding a small children’s park completes the scene, creating a harmonious blend of tradition and community.
The Central White Chapel and Convent, Es Cubells Ibiza
As the only landmark in the village, the Church of Sant Francesc de Paola is commonly known as the Chapel of Es Cubells. This small, white chapel upholds many of its original and authentic traditions, including The Teresa Sisters Convent, and offers a tranquil place for visitors to explore and appreciate.
Es Cubells Panoramic Sea Views and Secluded Beaches
Es Cubells village has been least likely affected by seasonal tourism and still remains relatively quiet even in the height of the season. However, with stunning cliff-top panoramic sea views running from Cap Llentrisca to Formentera, Es Cubells is becoming increasingly popular for regular visitors –– especially for luxury weddings and secluded tourism.
The coastline of Es Cubells is minimalist, with a few small fishermen’s coves, including Es Cubells Beach, Ses Boques, Cala Llentrisca, Es Torrent and Porroig. Due to the typical cliff edge, these tiny cobbled beaches are completely natural, with gravel sands and crystal waters that are as inviting for warm summer swims as they are for deep-water snorkelling.
Restaurants and Attractions Close By to Es Cubells, Ibiza
Es Cubells has plenty of culinary delights and plenty of attractions close by! Ses Boques is a must-visit for seafood lovers. Nestled in a picturesque cove, this restaurant promises a seafood extravaganza and creates the perfect atmosphere for a laid-back and delightful meal. If you like traditional Ibizan flavours, head to Cana Sofia. This family-run spot is known for its authentic cuisine, and its picturesque terrace adds charm to your meal. You can relax in luxury at Blue Marlin if you’re in the mood for a beach club day. During the day, this venue serves as the most luxurious beach spot; at night, it transforms into an energetic party venue. You’ll also find El Chiringuito Beach Club on Es Cavallet Beach nearby. Here, you can soak up the sun and eat some of the finest food on the island.
For scenic views, Mirador Sa Talaia is your destination. You’ll be mesmerised by Ibiza’s breathtaking views, including Es Cubells. And if you’re up for a beach day with mystery, Cala d’Hort overlooking Es Vedra awaits. Here, you can explore beachside restaurants for a delightful culinary experience with your toes in the sand.
Insider’s Knowledge: Cala Llentrisca, Ibiza
Cala Llentrisca is one of Ibiza’s best-kept secrets, a secluded beach hidden from the masses and known to only a few discerning travellers. You can discover a mesmerising coastal path here, a haven for those looking for tranquillity and panoramic views of the Mediterranean Sea.
Despite being safe, this path isn’t for the faint of heart. With varying terrain, including some steep stretches, it requires moderate to difficult hiking ability. This adventure requires sturdy walking shoes! It’s worth it, though, when you see unparalleled views and a secluded waterfront at the journey’s end.
The process of undertaking this exploration demands thoughtful preparation. Pack ample food and beverages and slather on sunscreen to ensure a comfortable journey. The two-hour trek (each journey) to reach the beach promises an experience like no other, but be mindful that there are no amenities or services until you ascend back to Es Cubells.
For those willing to venture off the beaten path, Cala Llentrisca reveals itself as a hidden oasis, offering a serene escape and an adventure etched with breathtaking vistas, all tucked away from typical tourist trails.
How to get to Cala Llentrisca Ibiza!
The walk starts out from the viewing point from Es Cubells church square, making your way to the left of the viewing point, you will find some stairs that lead down to Cueva de la Fuente cave. Follow the path until you reach the tarmacked road and continue past the Vista Alegre residential area until you reach Ses Boques Beach. When you get to the turn-off to the beach, continue along the small rocky path until you reach the very beautiful Cala Llentrisca Bay.
Es Cubells Real Estate Property and Rental Villas
Inviting those seeking a more traditional and quieter Ibiza lifestyle, the village stands out as a rare commodity in Ibiza. The properties here extend beyond mere accommodation to embody luxury villas and extravagant homes. Es Cubells seamlessly weaves natural beauty, cultural richness, and exclusivity together, carving out its distinct identity within Ibiza’s vibrant culture. Known for its exclusive and upscale ambience, Es Cubells charms a sophisticated crowd seeking a more private, serene and secluded setting.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Sustainable Ibiza: The Best Practice and Guide for an Eco-Conscious Stay in Ibiza
Every decision we make, from the food on our plates to the cars we drive, impacts our environment daily. Fortunately, an increasing number of individuals, both here in Ibiza and globally, recognise the importance of collective action and intentional living to safeguard and preserve our island—and the planet as a whole.
In Ibiza, IbizaPreservation, a non-profit at the forefront of sustainability, actively oversees the sustainability of our island through various projects and movements, such as Plastic Free Ibiza, Ibiza Produce, Ibiza Posidonia, the Marine Forum, and the Ibiza Sustainability Observatory. Together with our regular donations in support of these initiatives, we at Prestige Properties Ibiza aim to also reduce our own carbon emissions and address local environmental issues.
Tourists and visitors can play a huge role in minimising their environmental impact during their stay. Simple yet impactful changes, such as managing energy consumption, opting for local, eco-friendly products, and adopting conscious habits, can collectively make a difference.
So, in this spirit, let’s start with our latest guide to empower eco-conscious practices to contribute positively to the environment when visiting this beautiful island.
Energy Efficiency in Ibiza
Keep your water consumption in check
Efficient water usage is a simple yet impactful way to reduce your environmental footprint. Consider this: when washing dishes or brushing your teeth, a quick action like turning off the tap can save more than a litre of water in just 20 seconds. Water conservation becomes quite significant in light of the frequency of these daily activities.
The same principle applies to showers, especially during hot weather and beach seasons when water usage increases. Being mindful of your water consumption and making a conscious effort to save water in these routine activities can contribute to a more sustainable and eco-friendly lifestyle.
Manage your electricity usage by avoiding leaving electronic devices on throughout the day. Switch off electrical appliances when unnecessary, and turn them on only when necessary. For instance, refraining from charging your mobile phone overnight can save significant energy, as the charging process typically takes just a few hours.
Consider scheduling high-energy appliances, like dishwashers and washers, for nighttime operation. Additionally, use natural heat and sunlight to air-dry laundry outdoors instead of using a dryer.
Maintain a pleasant indoor climate by making the most of natural resources. Utilise shades and open windows during the warmer months to cool your villa, reducing energy-consuming air-conditioning units –– and when using air-conditioners, ensure windows are closed. Opt for natural light over artificial lighting and turn off lights in unoccupied rooms whenever possible. These small yet thoughtful practices can minimise your villa’s energy consumption.
Waste Management and Recycling in Ibiza
As outlined by IbizaPreservation, mindful waste and recycling practices are encouraged, and visitors should consider the following guidelines:
Prioritise thoughtfully – purchase only what is essential.
Minimise packaging – opt for items with minimal packaging.
Decline plastic bags – carry your reusable bag or basket when shopping (don’t forget you can request one of our eco-friendly "Prestige Going Green" reusable Tote bags from your Prestige agent!).
Say no to plastic straws –– essentially, these are banned in Ibiza.
Promoting environmental stewardship in Ibiza
While our island relies heavily on tourism for its economic prosperity, the influx of luxury and leisure activities each year threatens our ecosystem’s conservation and sustainability in Ibiza. Making a positive impact is within reach with these straightforward tips.
Mind your cigarette ends – refrain from littering streets and natural areas, particularly forests, nature trails and beaches. Beyond fire risk, it’s crucial that we respect our beaches and natural surroundings. Though designated bins may be scarce outside urban areas, heat-proof ashtray wallets, available at tobacco stores, offer a convenient solution for proper disposal
Protect marine life by resisting the temptation to take souvenirs of Posidonia (seaweed) and the environment at sea. When sailing or beachcombing, leave stones, shells, plants, and animals undisturbed in their natural habitats.
Choose eco-friendly sunscreen to protect your skin without harming marine life. Collect your waste after a beach visit, avoid discarding anything into the sea, and anchor your boat in designated areas to avoid Posidonia (seaweed) meadows.
Embrace eco-friendly transportation – consider walking or biking to nearby destinations instead of driving. It’s healthier and more environmentally friendly. When driving is necessary, prioritise public transportation, and, if necessary, maximise carpooling to reduce road congestion. Similarly, minimise land-based activities with high pollution levels, such as safari tours and quad biking, to reduce environmental impact. Check out this blog with some eco-friendly activities in Ibiza.
Select Conscious & Local Businesses in Ibiza
Try and shop for products and services from local businesses and those who advocate for sustainability, eco-friendly products, fair trade, or have Corporate Social Responsibility as part of their business ethos. Even businesses that ensure their employees have the right contracts and protections – such as insurance – and pay taxes, are helping the Ibizan community and the environment.
Go to Google Maps to see all the eco-shops available on the island.
Every action we take will make a difference. The most important thing to remember is that our actions will result in a cleaner, greener island, both now and in the future. Our company, Prestige Properties, is fully committed to promoting energy efficiency here in Ibiza as a firm supporter of green living. If you are eco-conscious, you may also be interested in our recent publications "Energy Efficient Homes: A Guide for Homeowners in Ibiza" article and "Energy Efficient Homes: A Guide for Homeowners Part 2"aimed at encouraging property owners and buyers to create energy-efficient homes.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
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!
Is 2024 a Good Time to Buy a Property in Ibiza?
Our latest real estate market update summary shows why Ibiza is still a great investment opportunity.
Property sales and prices in Ibiza in 2023 reflect a resilient and well-balanced market. Despite global and geopolitical uncertainty, the Ibiza property prices remain stable. Although demand has decreased, prices have continued to rise following established trends from previous years. As a result, some slight sales dips exist, but the market remains strong, healthy, and adaptable.
So, is 2024 a good time to buy a property in Ibiza? There is no doubt about it! Now is an excellent time to invest. It is more pressing to question whether it is a good time to sell a property, as the market may be gradually turning towards a buyer’s market. Check out our insights and forecast below for more information.
The General Balearic and Spanish Property Market over the Past Decade and in 2023
Spain and the Balearic Islands have demonstrated continuous growth over the past decade (pre-pandemic), reaching its 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 yet during mid-2022.
In the dynamic landscape of 2023, following the post-COVID-19 boom, we observe yet another minor dip in both buying activity and price fluctuations across Spain and the Balearics. It’s worth noting that this adjustment is often a natural part of the market’s evolution, allowing for stabilisation after remarkable growth. This phase may signify an opportunity for the market to recalibrate, ensuring long-term sustainability and setting the stage for a resilient and prosperous future.
However, prudent consideration is advised for individuals considering short-term investment strategies in light of prevailing market dynamics. Exercise caution until the second quarter of 2024, as this period will likely provide greater clarity regarding the enduring nature of present trends. To make informed investment decisions for Spain and the Balearics, following the evolving market landscape and thoroughly evaluating the prevailing market conditions during this interim period will be essential.
Ibiza’s Luxury Housing Market 2023 with Prestige Properties
Amidst global challenges, geo-political developments and financial uncertainty, the Ibiza luxury housing market is still flourishing. As one of Europe’s most popular holiday destinations, there is a high level of interest in investing in a property here.
We can see that the trend continues, and Ibiza’s price per square metre is still higher than the other Balearic Islands or the Spanish mainland, exceeding the price in 2022, even though demand and sales have slightly wavered.
Our Prestige Properties Ibiza’s sales data from 2023 calculated:
An overall 17% increase in price per square metre since 2018
Our sales volume doubled between 2020 and 2021 – which remained stable throughout 2022 and has now experienced a dip for the first time since 2019.
An 87% rise in enquiries over the past two years. Yet, we are very gradually shifting from a low supply/high demand (2022) to a higher supply/lower demand market (2023)
75% of our buyers purchased a property as a second home in 2023.
Our 2024 Forecast and is now a Good Time to Buy a Property in Ibiza?
As we look ahead to the Ibiza real estate market in 2024, the landscape appears to be uncertain. 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 more certainty.
Sales in the Ibiza real estate market for the upcoming year are anticipated to stabilise after the slight slow-down of 2023, with an observable increase in the number of properties available on the market. This trend may persist, leading to a greater inventory of properties in the following year. Despite this, the current market conditions suggest that it remains a favourable time to sell properties in Ibiza, as prices are currently high. However, the trajectory of future prices is still uncertain, and whether they will stabilise or experience a decline cannot be confirmed.
Ibiza’s real estate market has historically exhibited resilience, with prices recovering and often surpassing previous levels after experiencing a drop. This characteristic makes the market in Ibiza intriguing for long-term investors who may view potential downturns as opportunities for future gains.
For those considering buying property in Ibiza, the island’s real estate market has demonstrated its ability to bounce back after crises, distinguishing itself from mainland Spain and other real estate markets. Ibiza’s multicultural environment and high demand for luxury properties and holiday homes further enhance its attractiveness for both sellers and buyers in 2024.
In conclusion, while the Ibiza real estate market in 2024 is shrouded in uncertainty, it is currently a favourable time to sell due to high prices. Given the historical resilience of the market and the island’s unique and ever increasing appeal, potential buyers are sure to find long-term opportunities.
It’s recommended to monitor real-time market updates, consult local real estate experts, and factor in global economic conditions to make more accurate predictions for Ibiza’s real estate market in 2024.
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!
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.
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Exclusive Homes and Villas for Sale near the Most Popular Beaches in the South of Ibiza
There is much to love about Ibiza, not just for its trendy tourism, cosmopolitan lifestyle, A-list hotspots, amazing restaurants, and beach clubs – but also due to its spectacular beaches and natural surroundings. It’s really no wonder that the real estate market and popularity of buying second homes on this Balearic Island, especially in the luxury housing sector, has skyrocketed in the past decade as Ibiza becomes one of Europe’s top destinations.
Having your dream home or villa in one of the island’s most sought-after areas and coveted locations could not be more appealing. We invite you to explore our premium locations and exclusive homes and villas for sale near some of the best beaches in the south of Ibiza –– read on to discover what’s on offer.
What are the prime locations to buy a property near the beach in the south of Ibiza?
Most people associate the south of the island with its vibrant Mediterranean culture and luxury lifestyle. The area is home to a stunning coastline, exciting nightlife, a vibrant capital, VIP celebrity hotspots, and Ibiza’s most extravagant port. So, what are some of the top prime locations to consider buying an exclusive home or villa near the beach in the south of Ibiza?
Properties for Sale in Marina Botafoch and Ibiza Town near the Southern beaches, Talamanca and Es Figueretas.
Living in the city centre, old town (Dalt Vila), its extension or in the Marina Botafoch and Paseo Maritimo area offers nothing less than being in the centre of it all with close proximity to some of the area’s best beaches, socialite spots and, of course, the airport. This area tends to attract buyers of all kinds –– particularly those who appreciate historical architecture and life in the centre of the city’s vibrant culture, especially during the height of summer.
Areas such as Marina Botafoch and the Old Town (Dalt Vila) are very popular but pricey, which tend to suit a higher-profile and cosmopolitan clientele, particularly second-home buyers and investors. Specifically, Marina Botafoch has become a highly sought-after socialite hotspot with an international nightlife scene and some of Ibiza’s most luxurious apartment buildings right in front of the island’s main Marina Port. Close to here is where you will also find residential communities like Vista Alegre, which is home to the most spectacular newly built villas on the island, designed by world-renowned architects.
Ibiza Town’s and Marina Botafoch’s closest beaches are Talamanca and Ses Figueretes. Here, you get the best of both worlds: living close to the trendy city, the marina, beach life, and a family-friendly young community.
Talamanca offers several contemporary Mediterranean villas and new apartments, while Figueretas caters more to young couples and families seeking more reasonably priced vacation homes.
Properties for Sale near the south’s best beaches in the area of Jesús, Ibiza
Jesús offers an undeniably chic and cosmopolitan lifestyle in a convenient and refined island setting. Despite being in the municipality of Santa Eulària des Riu, the village is close to Eivissa, the main town, and the airport as the popular beach of Talamanca as well as the numerous tourist hotspots of Marina Botafoch, Destino, and Pacha. Jesús is an excellent location due to its direct access to several island destinations, a chic village and a sophisticated lifestyle. The properties available to buy and rent tend to be exclusive, modern, contemporary villas in the surrounding countryside or private urbanisations. This naturally offers its residents and visitors plenty of upscale living.
Jesús is conveniently located near all the best beach hotspots previously mentioned, and both Talamanca and Es Figueretas in the Ibiza Town and Marina Botafoch area. For more on the area, visit our blog life in Jesús.
Properties for Sale near the south’s best beaches in Ibiza – Ses Salines, Es Cavellet and Cala Jondal
The most popular area in the south for second-home international buyers to invest is undoubtedly Ses Salines, Es Cavellet and Cala Jondal. These up-market locations all offer easy access to the unspoiled countryside, Ibiza Town, and the island’s most popular beaches, as well as fashionable bars and restaurants frequented by A-list celebrities like Sa Trinxa and El Chiringuito, the famous Blue Marlin Ibiza Beach Club. These southern Ibiza spots are considered the finest and most attractive places for lifestyle vacationers to enjoy exclusive VIP status.
There are only a few villas present in Cala Jondal, Es Cavellet and Ses Salines, so finding a property for sale here is a rare commodity. Despite its low supply, this spot in the south is always in high demand – with a demand for spectacular cliff top villas and modern architecture. Those who find a home in these areas are incredibly lucky to reside in an unbeatable up-market and affluent area.
Ibiza’s most popular tourist resort, Playa d’en Bossa is also one of the best beaches in the south, with its long sandy beach (3km!) and many fashionable beach clubs aimed at young and affluent guests. Although Playa d’en Bossa is primarily considered a summer destination, local residents often visit and reside in the area and is deemed a prime location for those looking to buy an exclusive home or villa near the beach in the south of Ibiza.
Villas for Sale near the Best Beaches in the South of Ibiza, Es Cubells
Es Cubells is one of Ibiza’s smallest villages. Besides its white Ibicencan church, which is beautifully located on the edge of the cliff, there are only a couple of local bars making up the entirety. Located at the foot of striking cliffs typical of this area are three little coves separated by rock formations. The pebbled beaches and crystal waters entice one to bathe among the rocky sea bottoms where divers can discover countless interesting corners. Es Cubells’ cliffs are renowned among hikers and nature lovers for its spectacular views from the top.
Es Cubells offers miraculously peaceful and unparalleled surroundings combined with the most authentic local fishermen beaches and coves like Ses Boques, Cala Llentrisca, Es Torrent, Porroig, and Cala d’Hort Natural Park. Buying a property near the beach in Es Cubells is hard to come by –– but when found they tend to offer expansive landscapes and grounds with sweeping, south-facing sea views.
Let’s Help you Find your Perfect Property for Sale near the Beach in the South of Ibiza
Let’s talk about finding the right investment property for you. We’d love to hear from you!
Whenever you see a property that meets your needs, we strongly recommend you contact us. Investing in Ibiza is a great option, and demand is almost always higher than supply, so properties often sell quickly –– especially for exclusive homes and villas for sale near the beach in the south of Ibiza.
Take advantage of the opportunity to make an appointment to visit any of our properties mentioned above or others we currently have on the market with us today. We also offer virtual tours upon request.
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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