Wealthy property buyers flock to Ibiza
Wealthy investors are choosing to put their money into bricks and mortar in today’s market rather than invest in stocks and shares.
Cash rich holiday home hunters looking for a place to relax in style are looking towards the sunshine isle of Ibiza where a high proportion of the homes for sale are priced at more than 1.5 million Euros.
Spanish property agents based on the island say that considering the current economic gloom surrounding most of Europe’s property markets there is no shortage of cash buyers travelling from far flung destinations to secure a beautiful dwelling in the most sought after locations.
Cash buyers have the added advantage of offering a quick completion provided the price is right and with mortgage lending particularly tight at the moment many sellers are more than happy to negotiate on price in order to sell.