Ibiza is becoming more popular amongst a wider ‘new audience’. Whilst Ibiza was popular amongst many Western European countries. Now, with growing wealth in Eastern markets, tourists from these countries are coming for a holiday to the island. Outside of Europe Ibiza is also attracting more visitors as we can see from the Ibiza Visitor Numbers showing an increase of 50% in the past 3 years (pre-Corona), moving from over 350.000 visitors up to almost 500.000 visitors.
This article is part of our complete guide: “Investing in Ibiza? A Proper Guide to the Ins and Outs”
1. Investing in Ibiza? What Makes Ibiza so Special?
2. The Property Market in Ibiza and its Relation to the Economy
3. Ibiza Visitor Numbers; Who is coming to Ibiza?
4. Ibiza, a Brand-Name (Property) Market
5. What to buy on Ibiza at which price?
6. What are typical rental yields in Ibiza?
7. Interesting investment opportunities for small and big investors.
8. Who buys property in Ibiza?
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Ibiza, Brand Name (Property) Market
Pre-pandemic, it was predominantly the (mainland) Spanish, British, German, French and Dutch driving the property market in Ibiza. Property values surpassed previous crisis levels. Now, during COVID-19 you might find a little discount here and there, but the window for ‘deals’ may not be long for the better properties. Especially for the brand-name market Ibiza.
What makes Ibiza a brand-name, premium location property market?
The island is blooming as from the 60’s known as a destination with magnificent beaches and sun(sets). Tourist numbers kept rising and even had to be limited to protect the environment and nature. Demand increased and the limited supply due to geographical limitations (space) was a start for rising (property) prices. Do you know of any destination in Europe that offers more than 80 beaches and over 100 beach clubs? Combine this with the unrivaled ambience dating back from when the hippies started coming here in the seventies which started the discreet road success. One of the reasons Ibiza is unique is because it adapts to all ages which results in the young and old enjoying themselves together. A mix that is hard to find elsewhere. Ibiza is ageless…
The island leads social influencers
Instagram, thé network to show off your holiday photos is one of my leading indicators for the popularity of our little island. See it as a little brand bucket that is filled, strengthening the brand each time people use and share hashtags containing ‘ibiza’. #Ibiza has been used over 16 million times, compared to #monaco that is used over 6 million times and #mykonos over 4 million times.
Moreover, visiting one destination doesn’t mean you won’t visit the others. In the past years, people are doing more short trips instead of (or and) just one long holiday during summer. The ability to work from everywhere has made people travel more. For many, there is always a little Ibiza on the menu.
There is more in the barrel for Ibiza
Most of the people were visiting Ibiza in summer, but Ibiza is becoming more and more an all-year round destination. Local governments are supporting this by emphasizing sports and gastronomy. For years, it was the clubs dominating the brand image of Ibiza and now masses are coming to Ibiza to enjoy the beach lifestyle, gastronomy and sports without seeing a club during their visit. The holiday season and new years’ activities are becoming increasingly popular as well.
And last, but not least, Ibiza is becoming more amongst a wider ‘new audience’. Whilst Ibiza was popular amongst many Western European countries. Now, with growing wealth in Eastern markets, tourists from these countries are able to afford holidays to the island. Outside of Europe Ibiza is also attracting more visitors as we can see from the Ibiza Visitor Numbers showing an increase of 50% in the past 3 years (pre-Corona), moving from over 350.000 visitors up to almost 500.000 visitors.
In conclusion, Ibiza is a very strong brand and will remain so for the future because its message is so strong, unique and repeated by all of its stakeholders; islanders, tourists, second home owners… It’s the Spanish headquarters to millions of individuals loving a lifestyle that distracts them from their busy business life’s back home.