The property prices slowdown in mainland Spain is not happening in Ibiza, island haunt of Hollywood A-listers, lifestyle Wannabes seeking the beach-clubbing mix and middle class families enjoying the solitude and beauty that is an essential element of the offering.
The refurb opportunities of Old Ibiza Town have been snapped up over recent years and the San Antonio yoof market has settled into its very own niche sector, leaving the middle ground of EUR 500,000-plus homes to cash-rich buyers from the UK and northern Europe.
They have done their careful research on favourite locations, arranged their finance in advance and waited, sometimes a year or more, for the right place to come on the market.
There was a flurry of offplan sales during the summer as two local developers announced prime schemes in the EUR 500,000 bracket and sold them out steadily. The best all-round offering of 2007 was a prime beachfront development in Playa d'en Bossa, as the unbeatable location was likely to be boosted by a new Paseo Maritimo, planned by the local council to link back into Ibiza Town.
20 strides from the front door to the beach and a 15 minute stroll into the nightlife and clubbing of Ibiza Town was a big attraction to a range of buyers for the sea view apartments.
Bossa D'os, from quality renowned Ibihogar, a luxury front line beach development of just 32 apartments for sale in Playa d'en Bossa, is alongside the developer's earlier sell-out development, Bossa Beach. Ibiza
As the main Ibiza season ends, there are just four units left for sale, offered through PropertyInSpain.Net, Ibihogar’s UK brokers. They are expected to be key ready next year and valued at least 10 percent higher than the current asking prices starting at EUR 510,000. Buyers should be able to get an 80% mortgage, subject to status.
The penthouses sold out within days of the launch, quickly followed by the rest of the high-spec, modernist apartments ranged back from the glorious bay. Buyers loved the light, airy space, seaview terrace and the rooftop communal solarium and swimming pool with its splendid views and privacy.
Town Council also have plans to build a large marina in Playa d'en Bossa so these properties are expected to go up in value over the next few years.
Said PropertyInSpain.Net Ibiza manager, Ben Walker: “These are quality apartments suitable for singles and families in an established location that will be improved over the years and provide above average equity growth. We are offering them at the original prices so buyers can benefit from the inbuilt and future equity growth.
:: Average property prices in Spain increased by 1.4% in the last month, rising to €248,000 in October 2007, according to latest data from Kyero.com, the Spanish property portal.
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