Whether you’re choosing to relocate to Ibiza temporarily or on a more-permanent basis, it’s always key to consider long-term prospects and the opportunities a new country can bring. Thought by some solely as a holiday destination, those close to the island know Ibiza offers so much more as an upgraded lifestyle promise in its own right. Beyond the vacation villas and boutique hotels, Ibiza offers a community and place to establish firm roots all year-round.
From its interesting culture and history, spectacular landscapes and inviting climate, Ibiza has proved its credibility. As a major player in Europe’s real estate industry and with the world’s leading agencies including Ibiza homes in their prime residential repertoire, Ibiza has proved its standing. Increasingly, property investors have the island in their sights as a new investment opportunity to consider and a sign of things to come.
As property experts in Ibiza with our finger on the pulse across both the sales and rentals market, we’ve collated our top five reasons as to why Ibiza remains so hot and why you should invest in Ibiza now.
A CREDIBILITY THAT APPEALS TO THE MASSES
From a humble island formerly in the shadow of the grandeur and majesty of Mallorca, Ibiza formed its roots with agriculture and the fishing industry. Fast forward to the post-war years, a laidback charm paired with its spellbinding natural landscapes ensured it popular with bohemians of the new age seeking a relaxed and alternative lifestyle.
In the sixties and seventies, Ibiza established its hedonistic status dismissed by many as too alternative however only deepened the connection for those who discovered its magic. In the eighties and nineties, the island’s nightlife scene was truly established to allure revellers that defined Ibiza as the world’s greatest party island. In the noughties to the current day, Ibiza has managed further extend its appeal marked largely by its distinct locations; firstly to the spiritualists and health seekers seeking respite and calm at its varied retreats and healing centers, predominately in the north of the island.
Then, the wealthy families and middle-class masses in embrace of the family friendly, boutique holiday vibe where kids are catered for whilst they dine on world-class gastronomy. In brief, Ibiza appeals to all the masses and with it a formed credibility for those willing to invest in the island. It’s stood the test of time in comparison to other island destinations across Europe and so will forever remain popular with both visitors and those seeking a more-permanent lifestyle.
ACCESSIBILITY
Located only two hours from the UK and the leading business and commercial cities across Europe, plus less than an hour from Spain’s cities and main industry hubs, Ibiza is one of the most accessible island destinations in the world, let alone Europe. From bankers, actors, lawyers and CEOs, Ibiza continues to attract the wealthy seeking an escape like no other. Add to the fact, direct daily flights to and from the island have increased significantly over years and with the world’s leading airlines, the accessibility of Ibiza further lends itself as a credible destination to invest.
For those who establish more permanent roots, the option to fly back to London, Amsterdam, Barcelona and Paris, to name but a few, for a day of meetings is now an option. Likewise for those who instead opt for a second home on the island, weekends on the island are incredibly easy and can be a close comparable to the drive to the Cotswolds from London once the UK’s traffic is taken into account.
VISA
With the dawn of Brexit, prospects for anyone seeking to relocate to the European Union from the UK undoubtedly bought further challenges. Spain was thankfully quick to respond; largely in consideration of the many Brits that have sought a new life in Spain over the past decades.
Post-Brexit, the The Golden Visa, officially named the Spain Investor visa, is a residence permit issued to non-EU citizens who make a significant investment of €500,000 (£437,000) in Spain. Investments can be in the form of a real estate purchase, a company investment or an investment that supports the creation of new employment opportunities for Spanish citizens that will also contribute to innovation across the technology or science sector, making a significant socio-economic impact too.
The benefits of a Golden Visa grant both the visa holder and their family members Residence Permits, thus allowance to live in Spain plus travel to all Schengen Zone countries visa-free for up to 90 days in a 180-day period. After five years living in Spain under the Golden Visa, you will become eligible for permanent residence and after ten years of residence, you can apply for Spanish citizenship. Further flexibility comes with that you don’t actually have to live in Spain to renew the Golden Visa. Good news in terms of allowing property investors and also new residents to still be able to invest in Spanish property. With the doors somewhat open and without an economic block on the country, Ibiza remains a bountiful destination to invest and prosper.
DIGITAL NOMAD COMMUNITY
As we’re all too aware, the pandemic brought a new way of life to many, including how we operate personally but also at work. A new hybrid approach permitted more flexibility for people to work from both the office and home, or even greater mobility as they travelled the world whilst fulfilling their professions remotely. Facilitated further by new remote coworking spaces, the world suddenly saw the rise of the digital nomad worker; a concept unbeknown to many before. Forging a new digital and global community, we now see innovative coworking spaces that connect and motivate to allow people to embrace the hybrid lifestyle.
As such, Ibiza has proved itself a leader in this realm with countless coworking spaces opening plus hotels evolving their offering to invite more people to use their hotel as a base in which to work whilst also play. In this sense, the more dynamic a country can be, the more economic opportunities it presents and thus paves the way for businesses and entrepreneurs to reside and subsequently invest their money.
PROPERTY DIVERSITY
The appeal of Ibiza’s property market is largely owing to its diversity. From sprawling beachside villas to contemporary marina apartments, traditional finca farmhouses to charming abodes in the heart of Ibiza Town, there’s something for everyone. Add to the mix, the countless architects and interior designers based on the island; inspired by the creative Balearic aesthetic that isn’t restricted by the formality perhaps found on the mainland or even neighbouring island of Mallorca. Homeowners have access to the same design standard as you’ll find anywhere else in the world which in turn influences the quality of workmanship and build, and thus raises the desirability of the properties.
Property investors and new homeowners therefore develop an element of confidence with the island knowing their investment is somewhat certified if they choose to sell on in future years. Likewise, the demand for the rental market remains lucrative for any homeowners whether they seek to let their property on a long-term basis or capitalise on the peak summer months as tourists seek a range of experiences and areas across the island.
Property Search
With our ears to the ground and our book of contacts deep, think of Next Stop Ibiza as your property search fixer. We'll manage the whole process for you, whether you're already on the island or seeking to make decisions remotely across both rental and buying journeys. From setting up viewings to getting you first-dibs on rare and exclusive properties or plots of land, we're here with you every step of the so you can achieve your dream home.
ARE YOU A FUTURE RESIDENT SEEKING TO BUY OR RENT A PROPERTY?
Our property search service is perfect for you! Get in contact today for an initial call and we can confirm next steps. Even better, our Clarity Consultations offer a 1:1 meeting to truly dig deep into your requirements so we can help shape your search. Click the box below to book your call in today.
Contact PaddyAnne McAllister, founder of Next Stop Ibiza at hello@nextstopibiza.com