Bear market and prices in Ibiza

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Anonymous Anonymous 3 years, 5 months ago.

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  • #54950
    Profile photo of Anonymous
    Anonymous
    Participant

    I read lots of posts in the past as I am an interested buyer myself right now (lyfestyle choice not investment, renting being only an ancillary factor and for very limited periods). The supposed bottom of the price in my opinion is still way far to come: i am not an expert on spanish RE market but i study economy downturn professionally as a distressed investor and I don’t think the recovery is any close especially in some areas (Spain included).
    Nothwithstanding this same people complaining about the lack of buyers don’t accept offer 10/15% lower than the inflated pre crisis asking prices even if the property has been in the market for more than one year. I had several experiences of this sort in ibiza (where I am trying to buy): legitimate seller’s choice of course but if this is not a buyer’s market what will be ?
    I decided therefore to set a strict cutoff price per sqm…at least to avoid wasting time: problem is: at which level ? help appreciated….
    I am looking for a 3/4 Bdrns independent house with 750/1000 sqm of land.
    Thank you
    C

  • #116115
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Cannoli,

    I was reading back over old posts and this caught my attention. Did you manage to research the market and reach a conclusion on property values in Euros/m2 in Ibiza? Prices in Ibiza have fallen since then, though not as much as other places (especially not at the top end). They won’t fall much more, if at all. Last year would have been a good year to buy in Ibiza, price wise. It’s a really hot tourist destination right now, and that always gives support to property prices.

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