We interview Estela Estévez, founder and CEO of ESTELA EXCLUSIVE HOMES, one of the top property agencies in Ibiza in the luxury home sale and rental market.
P: Estela, after several years in Madrid you decided to move your business to Ibiza more than eighteen years ago.
E: Yes, I had an apartment in Ibiza and I travelled here constantly. When I was in Ibiza my friends in Madrid asked me to find them summer houses (in those days almost no one had e-mail or used the internet) and little by little, looking for houses for my friends, I started my real estate business in Ibiza and I stayed here for good. I still have an office in Madrid, but most of my business is here.
P: Recently Christie’s International Real Estate has chosen you to represent them in Ibiza. Why is Christie’s interested in Ibiza now?
E: As we all know, in the last five years Ibiza has become even more fashionable than it already was and this has understandably had a significant impact on the real estate market, especially in the high-end sector. Christie’s International Real Estate is present in 45 countries, with more than 1,200 offices in the world’s biggest cities and Ibiza, which is among the 10 most popular holiday destinations.
P: What properties can your customers find in Ibiza and what other services do they request?
E: All kinds of properties. Anything from seafront apartments with a view of the boats in the marina to spectacular villas on a cliff and cosy little houses in the quiet countryside. In addition to legal consulting services and other procedures involved in a home sale or rental, we also offer concierge services such as boat charters, private chefs, events and after-sales services such as interior decoration, landscaping, renovations, etc.
P: How do you see the luxury real estate market developing in Ibiza and what is your outlook for the future?
E: The market is growing year after year. We anticipate it will continue to grow for a long time. Ibiza is a small island. Land and built-up space are limited and at a premium. All this—combined with Ibiza’s appeal—makes it a booming market.
P: What are the key features for a property to be a good real estate investment? More specifically, how would you advise an investor who wants to buy to rent or sell within a few years?
E: Everything depends on what budget we’re talking about, of course, but location is very important—proximity to the sea and the city are two key factors. The views, construction quality and the number of bedrooms are also highly valued. We carry out customised profitability studies to provide the most information and make the right decision.