March 24, 2008 at 9:50 pm #53796
I’m currently looking at investing in Ibiza and would appreciate advice on prices on the island. I’ve been visiting the island for eight years and have established many local contacts.
My wife and i are now considering making an offer on a 3 bed villa in a rural setting; the primary purpose of the villa will be for family holidays though in the early years i intend renting it to help with the mortgage payments. Though i anticipate this as being a long term project, i’m keen to make this a sensible investment at the same time. I’ve read the articles on the spanish property market with interest.
I’ve researched the rental aspect of the market on the island and i’m confident of achieving expected returns – should i manage to let the property during the high season.
What i need (to begin with) is answers / advice to two questions:
1. Agents advertising property on websites are obviously seeking top of the market prices. I’ve no intention of offering anywhere near those advertised prices but i’m seeking a market norm (for villa property in rural a setting in ibiza – not a resort apartment)?
I’ve read some people suggesting that offers at 65% may secure property elsewhere in Spain but Ibiza’s villa market is more insulated against major falls (in my opinion).
I understand every property should be considered on its own merits but any relevant market pricing info would be helpful.
2. I’m guessing that i should be able to rent a rural villa for approximately twelve – fourteen weeks of the year, possibly more in future. However, this is based on my own experience of visiting the island and research on websites.
I would greatly appreciate any input from members who have experience of relying on holiday rentals on the island – and what is the reality?
I look forward to hearing from you.
March 25, 2008 at 9:33 pm #80243
Can no one help?
If not, is there an equivalent of the land registry website (like in the UK) for properties sold in Spain?
I’ve undertaken some research on villas sold but finding out ‘actual’ prices is proving a tad difficult.
Any pointers welcome.
March 26, 2008 at 7:51 am #80245
The only warning I would give is that James Blunt and Liam Gallagher live there so check out who your neighbours are.
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