Property prices in Ibiza and Formentera are so high that it would be easy to assume sales might stagnate. But nothing could be further from the truth. In the first seven months of the year, between January and July, home sales in the Pitiusas rose by 29.87%, the number of mortgages increased by 56%, and the total value of these loans grew by 60% compared to 2024, according to the latest data published by the Balearic Institute of Statistics (Ibestat). Moreover, the average mortgage now stands at €446,633 — €10,500 more than a year ago.
Ibestat’s data suggest a flurry of activity in notaries’ offices and local banks across the Pitiusas, where staff can hardly keep up with the volume of transactions and mortgage agreements. In just seven months, 1,139 home sales were formalised in the islands, 262 more than during the same period in 2024 — a year-on-year increase of almost 30% (29.87%).
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