Ibiza Real Estate Market Report Q3-Q4 2012 ENG


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It could be that 2012 will be seen as the
year that Ibiza was finally recognized
amongst international buyers as a
key location in which to own luxury
residential property

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Ibiza Real Estate Market Report Q3-Q4 2012 ENG

  1. 1. IBIZA REAL ESTATE MARKET Q3 & Q4 2012 holiday destinations. There has been “2013 will continue to see international In 2012, the growing awareness of the island’s interest in Ibiza properties,” saidisland consolidated well preserved natural beauty which has led to international recognition of Maxim Rettich. “We expect foreign investment buyers to react quickly toits reputation as one Ibiza as a luxury paradise with pristine any upward price signals or demand green spaces, crystal clear waters, increases, as few will want to loseof the top luxury and white sandy beaches. Growing a chance to take advantage of the interest from non-EU buyers, and the current opportunities available in theMediterranean holiday continuing high level of performance Ibiza property market.”destinations for properties that are rented short term, have been key factors in the Property TransactionsMaxim Rettich strengthened demand and salesDirector Ibiza trading throughout the year.”Lucas Fox Ibiza property sales transactions have shown a unique trend throughout Bucking national downward trends in 2012, reflecting the local dynamics ofIbiza Real Estate Market: average sales prices, Ibiza properties the market, which operate differentlySummary held and slightly increased their value, to the national influences on property ending the year at an average sales demand and pricing.It could be that 2012 will be seen as the price of €2,955 per square metre, a fullyear that Ibiza was finally recognized €1,000 more than the national average.amongst international buyers as akey location in which to own luxuryresidential property. While interest in SPAIN (‘00s) BALEARES (INC MALLORCA)this idyllic Spanish island has beenbuilding over the past several years,2012 showed clear signs that it has astrong property market with highervolumes of property sales tradingacross the summer months, and theIbiza tourism sector standing firmagainst national downward trends inair travel numbers.Lucas Fox Ibiza Director, Maxim Rettichexplains: “Ibiza has always had animage as a party island, but in 2012, theisland consolidated its reputation asone of the top luxury Mediterranean Property Sales Transactions: Ibiza and Spain: 2011 – 2012 / Source: ine.es IBIZA REAL ESTATE MARKET Q3 & Q4 2012 www.lucasfox.com
  2. 2. 2011 2012While national monthly sales metre according to Idealista and €2,929 1200transactions remained fairly steady and according to Fotocasa. By the end ofmuted across Spain, Ibiza experienced 2012, after some brisk trading that 900stronger surges in sales transactions, saw a 30% increase in property salesespecially in February, May and August, transactions on the island, properties 600and ended the year with further strong in the capital of Eivissa averaged €2,955sales activity. per square meter across both property 300 websites.Sales activity reflects the global Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Decinterest in Ibiza villas evident from The average sales prices and steadyinternational trends in Google search market behaviour was in strongdata. Statistics for 2012 show peak contrast to the Spanish averages, Ibiza Airport Arrivals (‘000s): 2011 & 2012interest at the start and end of the which continued to see a decline each Source: Aena.esyear, with the continued seasonal quarter since Q3 2010, ending 2012 at atrend in the midyear summer months. full €1,000 per square metre less thanThe majority of internet searches for the Ibiza average. This is the strongest dropped 5%, mostly due to reductions“Ibiza villas” in 2012 came from the sign yet that the market has bottomed in Spanish resident tourism. As anNetherlands, Switzerland and the UK. out in Ibiza as sales prices held steady international luxury destination, Ibiza and edged upward. is able to resist fluctuations fromIbiza Property Sales Prices negative inbound tourism influences. Ibiza Rental Market Across Ibiza and Mallorca, foreignIn contrast to Spanish averages, tourist arrivals grew 10.1% in 2012,property prices in Ibiza rose slightly in In 2012, airport arrivals followed accounting for 18.1% of all international2012, according to both Idealista and similar patterns and arrival numbers traveller arrivals in Spain in 2012.Fotocasa property webportals. as in 2011. By the end of 2012, over 5.5 million passenger arrivals had been Foreign Investment InterestAt the end of 2011, average property recorded at Ibiza airport, a slight dropprices recorded in Eivissa, the island’s of 1.6% on 2011 figures, resisting the In 2012 we saw continuing strongcapital averaged €3,026 per square trend in national airport arrivals, which interest from key northern European Global internet search interest for “Ibiza villas” 2012 Source: Google Trends International Visitors to Lucas Fox webpages Ibiza Average Property Sales Prices Q3 2010 – Q2 2012 for Ibiza property Q3 – Q4 2012 Source: Google Analytics for Lucas Fox website Source: Fotocasa.es, Idealista.com IBIZA REAL ESTATE MARKET Q3 & Q4 2012 www.lucasfox.com
  3. 3. markets, in particular the UK, France, Ibiza. “Ibiza properties tick all the boxes ABOUT THE LUCAS FOXNetherlands and Switzerland. There is that international investors in luxury MARKET REPORTSalso growing interest in Ibiza property property are looking to fill:ownership from several non-EU You can keep receiving up-to-dateterritories including Switzerland, the • They offer great long-term market reports from the LucasMiddle East, and South East Asia. investment value with close proximity Fox International Properties team. to the finest leisure and recreational Subscribe to future updates at ourThe Ibiza property pages on the Lucas opportunities website or bookmark our blog forFox website remained of key interest the latest news on the Barcelonato our online readers, with around 16% • Ibiza has strong planning and land real estate market.of our Q3 & Q4 2012 website visitors preservation laws protecting thelooking at Ibiza properties. In the island’s natural beauty, andsecond half of 2012, outside of Spain,website traffic for our Ibiza properties • There is ongoing interest fromcame from the UK, France, The the international jet set, who helpNetherlands and the United States. maintain the Island’s economy.Lucas Fox Analysis “The excellent year-round climateand Predictions and growing reputation as an island Alex Vaughan Maxim Rettich paradise beyond the unique party Director Lucas Fox Director Lucas Fox atmosphere that the island offers in the Ibiza“We expect the strong end to 2012 tocontinue through 2013 with a number summer months are drawing a growingof high value transactions already in number of international buyers who arethe pipeline for Q1 2013,” said Maxim looking for investment properties thatRettich, Lucas Fox Director of Sales for also match lifestyle demands.” www.lucasfox.com HOUSE / VILLA HOUSE / VILLA HOUSE / VILLA LOCATION: LOCATION: LOCATION: SPAIN » IBIZA » IBIZA SPAIN » IBIZA » IBIZA SPAIN » IBIZA » SAN JOSÉ LFB501 1.950.000€ LFB496 2,800,000€ LFB493 2.450.000€ HOUSE / VILLA HOUSE / VILLA COUNTRY HOUSE LOCATION: LOCATION: LOCATION: SPAIN » IBIZA » SAN ANTONIO SPAIN » IBIZA » SAN JUAN SPAIN » IBIZA » IBIZA LFB452 1,150,000€ LFB406 2,800,000 LFB508 1,900,000€ IBIZA REAL ESTATE MARKET Q3 & Q4 2012 www.lucasfox.com