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AN IBIZA STATE OF MIND

The future’s looking bright on the White Isle.

26th Mar 2021

Domus Nova Blog Image

Rising from the Mediterranean Sea, just off Ibiza’s south-west coast, the limestone formation of Es Vedrà is believed to have the world’s third-strongest magnetic field after the North Pole and the Bermuda Triangle. Perhaps it’s this that explains the unrelenting pull of the White Isle. Perhaps it’s the secluded coves, ancient towns and slow-paced, bohemian way of life that draw free spirits.

The prospect of Balearic-island living has never been so appealing. On the one hand, it represents escapism. The dawn of brighter tomorrow in every sense. On the other: the so-called “great pause” of the last year let Ibiza and sister island Formentera hit reset. Delicate ecosystems have thrived during the break, and it has made space for more conscious businesses to lead the way in 2021 and beyond.

As the islands’ year-round community grows, so we are seeing Ibiza and Formentera’s melting pot of people shine, engaging in a culture of collaboration, creativity, sustainability and expansive thinking. As we collectively write the future of these beautiful islands, now is the opportunity for you to become part of that next chapter.

If there’s one thing we all need, it’s a change of scene. It’s expected that homes to let will be hot property as we look forward to easing travel restrictions. When that will be remains to be seen, but you can be sure that Ibiza will pull out all the stops when the time comes. This is an island that loves to welcome and entertain.

The demand for holiday lets will always be strong here, but lately there has been increased interest in longer tenancies from people keen to trade in the home office for Ibiza’s year-round sun and beauty. It has never been a better time to take advantage of remote working – plus, lingering longer lets you really sink into the local pace of life.

Like many in real estate, Domus Nova Ibiza was flooded with enquiries from prospective buyers after the UK’s first national lockdown. It seemed that life goals were being brought forward; five-year plans were quickly transformed into one-year plans. A second home away from stresses and sameness of city life had never looked so attractive.

Over the following weeks, the number of enquiries rocketed towards record levels, with both private individuals and investors keen to really capitalise on what was perceived to be a buyer’s market. In reality, it was perhaps a little too early to see a major shift in property prices; it’s likely that this position will continue to adjust throughout the next year or two. Now is the time to invest, thanks to a range of new commercial and hospitality projects, as well as multi-unit developments.

Image Credits:

Hero image: Formentera © Jannes Jacobs