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Ibiza is booming: tourism and property prices at record levels!
Spain will experience a tourism peak in 2025 with over 100 million visitors. Ibiza is booming, but faces challenges.
Ibiza is booming: tourism and property prices at record levels!
Spain is currently experiencing an economic boom characterized by strong growth and a boom on the stock markets. The country is considered one of Europe's economic locomotives, behind Malta, Croatia and Cyprus. Loud daily news The Spanish economy grew by 3.2% last year, while the EU average was just 0.8%. The Spanish stock exchange, the IBEX 35, in particular, outperforms the DAX and shows less negative price developments.
This positive economic development is supported by several factors. Rising private consumption and falling unemployment are boosting consumer sentiment and attracting investment. Spain also offers cheap energy prices, low labor costs and a large market size, making it an attractive investment location. However, there are challenges such as long official processes and lower productivity compared to Europe. Structural reforms are necessary to reduce dependence on tourism.
Tourism and real estate market in Ibiza
Known for its laid-back lifestyle and party scene, Ibiza attracts over three million tourists every year. This tourism brings significant income of over four billion euros for the island, while average rents in the region are over 20 euros per square meter. High inflation in the Balearic Islands poses a challenge for many residents, who are often directly dependent on the tourism sector. The HORIZONS Ibiza describes that the real estate market in Ibiza is also booming and consolidated in 2024 at the highest price level since 2008, with an increase in the average price per square meter of 5.86% compared to 2023.
Demand for real estate is growing, fueled by digitalization and the pursuit of second homes, especially foreign capital. This is leading to a shortage of available properties and an increasing number of international buyers. 2024 will see a significant increase in short-term rental occupancy rates, particularly in San Antonio and Santa Eulalia.
Price trends and regional analysis
| region | Increase in value (%) |
|---|---|
| Ibiza Town and Talamanca | 4.5% |
| Talamanca | +7.3% |
| San Antonio | 5% |
| Santa Eulalia | 11% |
| San Jose | 10% |
| Northern Ibiza (e.g. Santa Gertrudis) | over 15% |
The analysis shows that Santa Eulalia is particularly attractive to international buyers, with Brits and Germans playing a significant role. Demand for luxury properties in San Antonio is also growing as buyers look for a private retreat in northern Ibiza.
In conclusion, the property market in Ibiza is forecast to continue to grow, supported by a continued international focus and high demand for high quality properties. These trends, together with Spain's overall economic strength, paint a promising picture for the coming years.