Though areas like the Costa Blanca have some of the most significant property price increases in Spain, it´s the holiday islands of the Balaerics like Ibiza that are seeing prices climbing the fastest, at almost double the national average!
The IMIE General Index shows an annual rate of increase of eight per cent across the islands, compared to a national price rise of just under four per cent.
The plentiful supply of sandy shores and sun-kissed climate on the Balaerics offer an idyllic setting for long-term stayers, who are fuelling the price market.
In property terms, coastal areas of the islands, like elsewhere, incur a price premium, with property values falling as you move further inland.
Spring heralds the start of the buying season in the Balearics, as it does in many other parts of Spain.
On islands such as Mallorca and Ibiza, the property market will be busy from now until the end of the summer.
“Foreign buyers play a significant role in these island markets as they vie with locals to find the perfect property in the perfect location,” commented Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España.