But now the market recovery is well underway and gaining momentum, local buyers are returning to the market, unemployment continues to fall and the economy is set to be the fastest growing of the “Big Four” euro economies over the next two years, according to the International Monetary Fund. According to Lucas Fox International Properties, a lending Spanish agent, property in Ibiza is set to "explode" over the next five years due to international demand. Following several years of downturns, the market economy is now in recovery and gaining momentum as local buyers return to the market. The number of properties sold by foreign investors has risen from just under 1,000 at the end of 2008 to more than 4,000 last year. Signs of stability emerged in Barcelona's property market as well.
According to Lucas Fox International Properties, a lending Spanish agent, property in Ibiza is set to "explode" over the next five years due to international demand. Following several years of downturns, the market economy is now in recovery and gaining momentum as local buyers return to the market. The number of properties sold by foreign investors has risen from just under 1,000 at the end of 2008 to more than 4,000 last year. Signs of stability emerged in Barcelona's property market as well.