According to data recently provided by the Balearic Institute of Statistics, the Ibiza and Formentera real estate currently has a cadastral value (the valuation made by the General Directorate of Cadastre) of 11,438 million euros (Ibestat). In the 15 years since Ibestat has provided this number (based on Cadastre data), that figure has climbed by 115%, or more than doubled: in 2006, it was 5,316.6 million euros, or 6,121.6 million less than at the end of 2021.
Ibiza alone is valued over 10,857 million euros, 5,722 million more than in 2006, and more than quadruple that amount ( 111.4%). And Formentera, 581.5 million euros, about 400 million more than three decades earlier, and three times more than the previous year ( 219%).
The cadastral valuation of Ibiza climbed by 90 million euros (0.8%) in the last year, whereas Formentera increased by 13.5 million ( 2.4%).
The cadastral records reveal how Ibiza’s undeveloped area is shrinking year after year. It presently has only 665 urban hectares of undeveloped land, which is nearly half (-46.8%) of what it had in 2006.
Ibiza: 15 hectares in four years
However, the decrease in Formentera has been far less pronounced. It now possesses 27 hectares of undeveloped land, which is only five hectares (-15.6 %) less than it did 15 years ago. This figure has not altered in the last three years on that island, whereas in Ibiza, the unbuilt area has been decreased by five hectares in the southern Pitiusa over the last three decades; in the north, cement has swallowed up 15 hectares in just four years.
Formentera also has the highest average cadastral valuation in the Pitiusas: 134,325 euros, which is 29,001 euros higher than Ibiza (95,324 euros)
Formentera also has the highest average cadastral valuation in the Pitiusas: 134,325 euros, which is 29,001 euros higher than Ibiza (95,324 euros). Even Formentera is ranked fourth in the Balearic Islands in terms of average cadastral values, trailing Deià (208,907 euros), Escorca (156,550 euros), and Valldemossa (156,550 euros) (136,179 euros).
Nonetheless, Ibiza and Formentera have the highest average cadastral values in the Autonomous Community, with Mallorca having 81,574 euros and Menorca having 73,794 euros.
The municipality of Ibiza has the lowest average cadastral valuation, 73,545 euros, among the biggest Pitiusas. Vila has 3,336 urban plots and a total built-up area of 295 hectares, which is two greater than in 2020 and has remained constant since 2017. Nonetheless, it has the greatest overall cadastral value (3,324.8 million euros) on the island, ahead of Santa Eulària (3,084.4 million euros), Sant Josep (2,561.6 million euros), Sant Antoni (1,580 million euros), and Sant Joan (1,580 million euros) (305.6 million euros).
For the full article, please visit Diario de Ibiza website here.