Just like most of the rest of the world, the property market in Ibiza in 2020 has not been as fruitful as it would usually be. Ibiza real estate prices are still more expensive than your average house price in Spain with Ibiza Town being the priciest location to look for a property in the whole of Spain.
You will still very much get more for your money in the North of the island with the average country property spanning 500sqm and costing just under 3 million euros. In the San Antonio house market, you will find the cheaper options which are on average a smaller 150sqm for around 600,000 euros.
Although Ibiza Town is the most expensive place to buy a property in Spain, you will not get much for your money with average properties just 100sqm. The Old Town is full of pied a tier’s ideal for a weekend getaway or second home. You will usually not get any parking with these homes and of course in the peak season the streets are filled with people enjoying the many bars and restaurants.
You can of course buy a property with a view to renting it our most of the season however it’s becoming harder to get a license to do this so purchasing a place that already has one is a better option.
Although some sellers have dropped their sale price you would still need a healthy bank balance in order to purchase some of the higher end real estate in Ibiza which don’t seem to have reduced their asking price even in the current climate. In fact, most of the luxury villas for sale are being coveted for their secluded locations or amenities.
It will be interesting to see what happens to the Ibiza property market in 2021.