With a vibe that ranges from hippy-dippy casual to coolly sophisticated, Ibiza has become the party island where Londoners want to buy a home.
Year-round accessibility is key. BA has started flying from Stansted airport, where the White Isle is the number one destination on the board. This new service means the airline now operates up to seven flights a day from four London airports to Ibiza.
It’s a good indicator of how the Balearic Island has extended its season to become a serious contender to its sister, Majorca. “There are flights every day of the year between Ibiza and London now, and that is a massive change for us,” says Cathy Ouwehand of Savills.
“It has opened up new opportunities for the island. Club openings are getting earlier each year and stretching out for longer. Ibiza used to be abandoned in the winter but these flights, along with high-speed internet and good international schools, have made it much more liveable.”
SOMETHING FOR EVERYONE — INCLUDING LEO DICAPRIO
At only 21 miles by 12, Ibiza is one sixth the size of Majorca, but its charm lies in its great variety. The north is laid-back, while the south offers body-beautiful beach clubs. The youngest party crowd still head to clubs in San Antonio but walk around Ibiza Town on a summer’s evening — and most striking are the restaurant tables filled with multi-generation family groups.
The private jet terminal is being extended to cope with demand, marina berths in Ibiza Town are oversubscribed and you have probably already left it too late to get a Saturday night table at Lío, the coolest cabaret ticket in town where Hollywood A-lister Leonardo DiCaprio partied last summer.
NEW BUILD IS HOT
The Balearics in general — and Ibiza in particular — have seen property prices bounce back since the recession, outperforming the Spanish mainland and led by demand concentrated at the top of the market. New-build homes typically account for 30 per cent of the international market, Savills’ figures show, but are in short supply.
Spanish developers and hoteliers OD Group launched The White Angel in 2012, with 67 off-plan flats and a communal pool plus full concierge service in Ibiza Town, all now completed and sold. This summer OD Group launched its next project, The White Angel Talamanca, five minutes’ drive east along the coast close to its new hotel, OD Talamanca.
The White Angel Talamanca will have 54 three-bedroom flats in 10 low-level blocks, five minutes’ walk from the beach. The plot is full of pine trees and has views to Ibiza Old Town and across the Med to the island of Formentera. The flats are priced from £1 million to £1.5 million for 1,940 square feet. Some have roof terraces and private pools, many have sea views and all share two pools, a spa, gym, and kids’ play area. A full concierge service from the nearby hotel will make these easy lock up-and-leave homes for overseas buyers.
Nowhere on Ibiza is more than 15 minutes from the sea, says Ouwehand of Savills, but most international interest still centres on Ibiza Town and the south coast.
At ABC S’Olivera due north of Ibiza Town Savills is selling 69 two- or three-bedroom flats from £180,000 to £308,000, of 721sq ft to 970sq ft. These have a communal pool and great views of Ibiza Town. Service charges are £85 a month and homes could achieve a monthly rent of £1,255 on a long-term contract.