Buying a property in Ibiza – Purchase Guide

Discover the dynamic Ibiza property market and seize the opportunity to buy property in Ibiza:

• Is Now a Favorable Time to Make a Property Investment?
• How does the property buying process unfold in Ibiza?
• What roles do a notary, a lawyer and a tax advisor play?
• Do I need to open a bank account in Ibiza when purchasing a property?
• Which documents are needed to buy a property?
• What additional expenses should I consider when purchasing a property?
• Can I take out a mortgage to buy a property on Ibiza?
• What are the ideal regions for buying your property in ibiza?
• Do you need a reliable and reputable real estate agent on Ibiza?

Considering these factors will empower you with the knowledge needed to make informed decisions throughout the property buying process in Ibiza.

Is now a favorable time to make a property investment in Ibiza for the year 2024?

Definitely! According to our annual Ibiza Real Estate Marketing Release 2022 and forecast for 2023, investing in property in Ibiza in 2022 is extremely favourable. The luxury property market in Eivissa (Ibiza) has proven resilient in 2022 and the early part of 2023.International demand for property has outstripped the available supply, resulting in a scenario where even smaller, more affordable properties, townhouses and flats have seen a considerable increase in value. This has led to a steady increase in property prices throughout the Balearic Islands. Please contact us to get our exclusive list on luxury villas for sale in Ibiza.

How does the property buying process unfold in Ibiza?

The process of property purchase in Ibiza comprises three important phases:

Its stages of process are the negotiations and signing of the agreement, the signing of the promissory agreement and the payment of the deposit of the property, and lastly the deed of sale. It is important that buyers, especially those with an international background, familiarise themselves with these stages and the associated costs in order to make the process of buying a Spanish property efficient.

Our comprehensive buyer’s guide is designed to give clients a detailed insight into these stages and equip them with the necessary knowledge of the costs associated with buy a property in Eivissa – Ibiza. For a deeper understanding of the seller’s costs and responsibilities, our Seller’s Guide article is a valuable resource.

What roles do a notary, a lawyer, and a tax advisor play in the process of purchasing a property in Ibiza?

In Ibiza, a advisor, usually associated with a gestoria or administrative office, takes care of the administrative tasks throughout the process of purchasing  a property in Ibiza. He plays a crucial role in facilitating various administrative requirements.

• The notary is essential for the conclusion of a real estate purchase and the legal transfer of ownership of a property in Ibiza. He supervises the execution of a notarised deed, ensures that there are none pending debts on the property and checks whether it can actually be transferred and be legally sold to a new purchaser.
• The solicitor will carry out comprehensive due diligence, checking aspects such as outstanding debts against this property, current tax payments, land registry information, planning permission and contractual matters. They play a key role in ensuring legal compliance throughout the property transaction.

In addition, a building regulation check can be carried out, which is usually performed for newly built homes by their local council. Although such a survey is uncommon when property purchase in Ibiza, buyers have the option of commissioning an engineer or architect to carry out a thorough valuation should they wish to do so.

Do I need a spanish bank account to buy a real estate in Ibiza?

Essential – A account in a bank in Ibiza – Spain is mandatory for buying in Ibiza. Spanish financial institutions usually require a number of the passport to open the account. Obtaining a NIE (Número de Identificación de Extranjero) is not mandatory to open or maintain a account, particularly for people who are not residents of Ibiza.

Which documents are needed to buy a real estate in Ibiza?

To complete the purchase of a property in Ibiza, you will need the following documents:

• Identity card (passport)
• NIE/TIE number
• Proof of bank transfer in accordance with the terms of payment
• Account details from Spanish bank
• Evidence of payment made.

We will assist you in filling out the documentation and facilitating the procurement of all necessary documents.

What additional expenses should I consider when buy a house on Ibiza?

As a rule, the total cost of purchasing a home on Ibiza is between 8 and 12% out of the purchase price of the property.

These costs include:

The total costs associated with buying a home on Ibiza are usually between 8% and 12% percent from buying price.

This includes:

• Taxes: ITP between 8% and 11% or alternatively 10% VAT plus 1.5% stamp duties.
• Costs of mortgage: 0% under current Ley Hipotecaria or 0.5% of the amount of the mortgage if utilizing a broker.
• Legal/advisory fees: Approximately 1%.
• Notary and Land Registry charges: Approximately 0.1% to 0.5% or less.
• Bank costs: Varies.

Buying a property in and around San Jose – Ibiza

Located in the picturesque south-west of the island, between vibrant Ibiza Town and lively San Antonio, Sant Josep is in all its splendor. Sant Josep is an eclectic cultural and stylistic paradise, ranging from the charming authenticity of the traditional Ibizan lifestyle to world-famous destinations that regularly attract A-list celebrities.

Discover the true beauty of Sant Josep, from the rolling hills covered in pine trees and wild herbs to the crystal clear waters of the coastline. The region is home to some of Ibiza’s most beautiful beaches, such as Cala Comte and Cala Bassa, which, with their sparkling turquoise waters and fine sandy beach, are an ideal spot for sun worshippers and water sports enthusiasts.

Whether you are looking for the peace and seclusion of village life, exploring the vibrant nightlife or simply enjoying the natural beauty of Ibiza, Sant Josep offers something for everyone. Here you will find a variety of properties on offer, from luxurious villas with breathtaking views to cozy country houses surrounded by idyllic countryside.

For more information about San Josep and the properties currently for sale, visit our location page. Discover your dream home in this diverse and enchanting part of Ibiza, where history, culture and natural beauty blend harmoniously.

Buying a property in around Santa Eulalia – Ibiza

Investing in real estate in Santa Eulalia del Rio presents a truly enticing opportunity. Nestled along the east coast and extending into the hinterland, Santa Eulalia is celebrated for its breathtaking, family-oriented residential locales coupled with a consistent influx of tourists. The area is adorned with magnificent beaches, lush green forests, captivating landscapes, and enchanting villages, including the beloved Santa Gertrudis. Boasting a vibrant marina and a dynamic atmosphere filled with restaurants and bars that welcome patrons year-round, Santa Eulalia promises a diverse and lively living experience. This destination merges the tranquility of seaside living with the vitality of urban amenities, making it an ideal choice for those seeking the best of both worlds in their real estate ventures.

For more details about Santa Eulalia del Rio and the properties currently available, visit our location page.

Buying a property in and around Ibiza

Explore the allure of Ibiza Town, a locale honored as a UNESCO World Heritage Site, distinctively divided into two unique sections: the ancient heart known as Dalt Vila and the contemporary new town. This vibrant town is graced by the stunning Talamanca and Figueretas beaches, offering serene seaside escapes within its lively atmosphere. A mere 5-minute journey transports you to the prestigious Botafoch marina, a haven for luxury living with its high-end residential buildings featuring exquisite apartments. Beyond the residential allure, Botafoch Marina serves as a hotspot for elite shopping experiences, with the finest boutiques, alongside exclusive clubs and gourmet restaurants. Ibiza Town embodies a blend of historical richness with modern luxury, making it an enchanting destination for both residents and visitors alike.

In the immediate vicinity are Can Rimbau, Can Furnet, Cap Martinet, Roca llisa and S’Estanyol, which represent the epitome of exclusivity in Ibiza. For a comprehensive overview of Ibiza and the properties currently on the market, please check out our portfolio on villas for sale in Ibiza in various location.

Buying a property in and around San Juan – Ibiza

Tucked away in the serene northern reaches of the island, Sant Joan de Labritja offers a haven of vast rural landscapes and verdant fields, untouched by the rapid pace of modern life. This peaceful rural sanctuary is home to four quaint villages and boasts some of Ibiza’s most breathtaking beaches, including the renowned Benirrás and the picturesque Cala Xarraca. The area’s rich cultural tapestry draws both locals and international dwellers, making it a unique place of residence. San Juan is synonymous with a laid-back lifestyle and its distinctive hippie bohemian flair.

For a comprehensive exploration of San Juan, visit our dedicated location page. Here, you’ll find in-depth insights and a selection of current properties for sale in this enchanting locale. To gain a fuller understanding of what makes investing in Sant Joan an appealing option, don’t miss our detailed article on the location. Discover the charm and potential of San Juan by checking out our location site.

Buying a property in and around San Antonio –  Ibiza

Immerse yourself in the scenic beauty surrounding Sant Antoni, where a collection of exquisite nearby locales awaits your discovery. Venture to the serene Cala Salada, a haven of crystal-clear waters ideal for swimmers and nature enthusiasts. Just a stone’s throw away, Cala Gracio and its intimate sibling, Cala Gracioneta, offer tranquil retreats with their soft sandy shores and picturesque settings. For those seeking a blend of luxury and scenic views, Can Germa stands as a prime residential area, boasting stunning vistas and proximity to these natural paradises. Each of these locations encapsulates the unique charm and beauty of Ibiza, making them must-visit destinations for anyone exploring the island’s vibrant and diverse landscapes.

Unveil the authentic charm of Sant Antoni, a locale celebrated not merely for its touristic allure but also for its enchanting sunsets, pristine white sandy beaches, and dynamic nightlife. However, Sant Antoni’s story extends beyond these well-known attributes, revealing secluded beaches and Michelin-starred dining establishments that spotlight the area’s rich and varied character.