According to Spanish portal Kyero, Spain’s average property price is £158,000 but in Ibiza it is over three times more at £532,000.
Upmarket rentals are equally steep, many reaching £21,500 a week.
Calaconta, Ibiza’s first gated development, is a good example of how the market has moved. Set in the prime south-west directly on Cala Conta Beach and within half an hour of the airport and Ibiza Town, it has been a winner with European, American and Russian families who snapped up all 27 of the coolly contemporary, west-facing villas.
The final six custom-built villas, the Calaconta Collection, are newly for sale. Set at the highest point of the estate with a pared-back, angular design, the 8,500sq ft, two-storey homes have inner courtyards and expansive open-plan interiors with minimalist lines. Prices for these four- to eight-bedroom homes start from £2,116,000.
Contact Calaconta: www.calaconta.es; +34 659 36 4242