Mallorca’s westerly sister is equally enjoying its star in the ascendant; about 10 years ago, it managed to shake off its cheap drinks and dance music reputation and, today, it attracts serious money-hedge-funders and private financiers in particular-and people who are looking for more of an edgier destination than the good life offered on Mallorca.
It’s rather the yin to Mallorca’s yang and most agents agree that those who buy in Ibiza won’t consider Mallorca and vice versa. Whereas Mallorca (particularly Palma and the southwest) is a year-round destination, Ibiza is predominantly for the summer.
But the White Isle has always beaten and continues to beat a more bohemian path: beach shacks on the island are increasingly shunning the standard bocata (sandwich) in favour of plates piled high with healthinfused superfoods, artisan markets take over the streets in Ibiza Town in the evenings. Chic hotels such as the Hard Rock and restaurants are piling into the island, especially in the villages of Sant Josep and Santa Gertrudis.
But families are also making up a large contingent of buyers. According to Cathy Ouwehand, Savills associate on the island: ‘If parents buy in Ibiza, they know their children will continue to come on holiday with them.’
Although new apartment developments are selling well on the island, the high-end villa market is also proving lively if properties have that special cocktail of ‘a hint of traditional style with modern finishes’, says Christian de Meillac of Knight Frank.
One of the long-term problems that well-heeled buyers have had with owning a property on Ibiza is access -particularly during the winter, when flights have, historically, all but dropped off at the end of the summer season. The other frustration that is still largely the case today is the timing of the flights-most of them leaving very late at night. According to Mrs Ouewhand, the situation has improved immensely with new flights from London City airport. ‘This winter, there was a great flight from London, arriving at 10.30am in Ibiza and then leaving Sunday afternoon-perfect.’
Almost all agents report lively trading at the top end of the villa market, where designer kitchens, top-spec gadgetry and sleek lines within the classic Moorish box houses that are scattered across Ibiza are achieving high prices. Numa Heathcote of Aylesford International says that ‘houses that started off as traditional fincas, but have been converted into contemporary party houses are selling well, meeting and, in some cases, exceeding price expectations.’ Savills are about to launch some new turnkey properties on Formentera, the bone-shaped island that hangs off the south of Ibiza, which are bound to prove popular among houses hunters this summer.
Dalt Vila €9.5 million
Set in the heart of Ibiza Town is a seven-bedroom house, which comes with various outside spaces, including a 220sq m (2,370sq ft) roof terrace, which houses the pool and enjoys views over the port and the sea. Aylesford International (020-7349 9772)
Contemporary Ibiza property for sale €1.89 million
Calaconta is a new development of luxury villas located just 550 yards from one of the most desirable coves in Ibiza. They’re due for completion at the end of this year Knight Frank (020-7861 1097)
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