Values of exclusive homes in Ibiza, Spain, have risen for around 18 months and were up 5% year-on-year in 2013, says international agent, Engel & Völkers
Luxury prices of property in Ibiza are defying the drop in Spanish home prices – and have been rising steadily for around 18 months, it is claimed.
In 2013, values of exclusive holiday properties on Ibiza rose by up to 5% year-on-year, says leading international agent, Engel & Völkers.
Florian Fischer, Managing Partner of Engel & Völkers on Ibiza, says, “Interested buyers who are looking for a reasonably priced top property have unfortunately arrived too late.”
As a result of the higher prices and an increase in the number of transactions, the two Engel & Völkers agencies on Ibiza increased revenues by around 20% in 2013.
The increase in prices is boosted by overseas buyer demand for prime Ibiza homes, says Florian Fischer.
“The island is one of the hotspots where cosmopolitan clients are particularly fond of acquiring a second home. Demand has risen sharply, especially in the top segment for properties starting at one million euros.”
Most homes are bought for lifestyle reasons rather than investment. “It is the unique way of life and the undeniable charm of the island …read more