Ibiza: why it's time to invest in this holiday property hotspot
by Housesimple on 1st January 2018
Ibiza has lost none of its appeal since its hippy heyday of the 1960s. The White Isle welcomed a record number of tourists in 2016 and has seen waves of investment from its celebrity fans – Enrique Iglesias and Rafael Nadal are among the stars putting their names to new restaurants on the island.
So why should you purchase property in Ibiza? We can think of a few good reasons.
If you're dreaming of selling up and moving abroad, you might have already considered Mediterranean islands like Ibiza. This Spanish island has truly breathtaking scenery, with white sandy beaches and rugged cliffs dotted with pine trees. Orange and lemon trees ripen during the winter, and – with more than 300 days of sunshine each year – you can expect blue skies all the way.
Owning a second home in Ibiza can be a great little earner. Thanks to rental platforms like Airbnb, more people are booking accommodation privately rather than staying in hotels. In fact, the number of people making the switch grew by 23.2% between July 2016 and 2017. The potential to make money isn't restricted to the summer season, either. Ibiza is fast becoming a year-round holiday hotspot with wellness retreats becoming more popular from October to April. September's jazz and opera festivals draw visitors during the autumn shoulder season, too.
Ease for British buyers
With Brexit looming on the horizon, Spain is becoming a safe option for European property investment. Graham Davidson of international property brokers Sequre International has stated that "Spain is much more likely to offer benefits to UK expats than any other country in Europe as there is already a strong UK community." The strong expat base makes it easy for newcomers to slot into the social scene, and local estate agencies will already have experience working with British buyers.
Ibiza is going upmarket, with a new super-yacht marina encouraging those who usually summer in Monaco and the Cote d'Azur to head to the White Isle. In the past few years, there's been a higher demand for private jet hire to the island, and new five star hotels like Nobu have recently opened their doors. As Ibiza becomes more gentrified, a high return on property is more likely.
With British Airways increasing its flights to the island, now's the perfect time to pursue your place in the sun.