Construction in ibiza less than 3pc of peak levels

43 homes were given the green light for construction in the first half of 2013, 50 per cent below last year and less than 3 per cent of the number in the 2006 peak.

Daniel Chavarria Waschke, Managing Director of Balearics Sotheby’s International Realty, comments: “The crazy building frenzy of the peak is over, partly because bank lending is virtually nonexistent and partly because attitudes have changed towards construction.  Many people are choosing to refurbish existing homes rather than build from scratch and unnecessarily urbanise more of the landscape.  This is very healthy in my opinion and will help preserve the Island’s natural beauty and desirability.”

The Balearics College of Architects say that up to July, of the 250 projects approved across the Islands of Mallorca, Menorca, Ibiza and Formentera, 70 per cent are refurbishments versus just 40 per cent in 2012.  There is also more activity in the construction sector with far fewer companies going bust but instead gaining new enquiries and income streams.

Daniel continues: “One of the rare few to be given a green light for construction was Cala Conta, a gated condominium resort on Ibiza’s western coastline within 500 metres of fantastic beaches. Here the focus is on five-star services and security alongside a high level of environmental awareness. The 24 hour concierge handles everything from housekeeping to yacht charter whilst there is an on-site wellness Centre with Spa and gymnasium.  Undoubtedly the developer’s commitment to rainwater recycling, use of native plants and building materials and geothermal energy would have helped smooth the planning application process in such an unspoilt part of the Island.”

Cala Conta has been very popular with Ibiza Sotheby’s International Realty’s clients, he adds. Indeed, with more than half the project now sold, the developer has been confident to put prices up by 15 per cent.

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