Buying a second home or vacation home in Ibiza?
Buying a second home or vacation home in Ibiza, what’s involved?
Ibiza is known for its boundless freedom, pleasant climate, beautiful nature and spirituality. It is a place to dance until the sun rises, dine intimately in one of its authentic villages or to completely unwind. It is a popular haven for a reason. And that’s just a few hours’ flight away! If you regularly go on holiday to Ibiza, it can be more economical (and nicer!) to own your own home instead of renting accommodation every year. Whether you are looking for a good investment, peace and privacy, a pleasant climate, culture or vibrant nightlife, Ibiza has something for everyone.
But what is actually involved in buying a holiday home in Ibiza? After more than 10 years of experience selling houses in Ibiza, we know the answer.
For comprehensive buyer tips and frequently asked questions, please refer to our FAQ´s. Here you can read what you must absolutely consider.
Do I need a Spanish bank account?
Yes. If you want to buy a house or flat in Ibiza, you will need to open a Spanish bank account. Many agencies only work with a bank based in Spain. Think about connecting water, electricity, internet etc. To open a bank account, you will need a NIE number. This is a Spanish identity card for non-residents of Spain. This is also your VAT number. You can apply for this through your lawyer, Gestor or the Spanish embassy in your country of origin. Without an NIE number, you cannot buy a house.
What is a gestor?
Do we hear you thinking. This is a person you can hire to handle all your administrative matters. In some cases, a gestor works for himself or for a Gestoria, which is an administrative office.
What about taxes?
Keep in mind the taxes you have to pay when buying a second home in Spain, including transfer tax, VAT and property tax. Take a look at our FAQ´s “Costs and Taxes” for a detailed explanation of all the costs and taxes for buying and selling a house in Ibiza. More questions? Read our FAQ´s on the full buying process: here.
We also have some tips on things you might not immediately think of at first, but are very important if you are considering investing in a house in Ibiza.
Which area suits you?
Choose a location that suits your lifestyle. Do you want a secluded location in nature so you can fully enjoy serene peace and privacy? Or instead a lively area near the city and one of the popular beaches? We will be happy to help you choose. Ibiza has five municipalities: Ibiza Town, San Antonio, San José, Santa Eulalia and San Juan. Each municipality is unique and has its own specialities. There are also several lovely villages in the municipalities. Which best suits your needs?
Ibiza Town
Ibiza Town is more than a vibrant nightlife. The historic centre of Ibiza Town offers a mix of traditional and modern architecture, rich history and delicious cuisine. A place where fashion, creativity and gastronomy come together. A popular municipality for property investment, it offers a wide range of properties from historic houses to modern flats. See options properties.
San Antonio
Located on the west coast of Ibiza, San Antonio is known for its Mediterranean beauty: peaceful coves with beautiful beaches and gentle waves. A very inviting coastline. There are also more than enough great bars, restaurants and nightlife spots. The sunsets on this side of the island are truly magical. One of the hotspots is Hostal La Torre in Cap Negret, it is a popular spot to watch the sunset enjoy the food and music, and if your lucky you can see dolphins. This part of the island offers many options for buying holiday homes and apartments. See options properties.
Santa Eulalia
Located on the east coast of Ibiza, Santa Eulalia has a relaxed atmosphere. The village has a luxurious marina, more than enough choice of inviting restaurants and several shops. It is a sought-after place for families and offers many options for buying houses and villas. In the municipality of Santa Eulalia is the picturesque Santa Gertrudis. Here you will find an authentic church and a cosy square surrounded by some excellent restaurants and charming boutiques. See options properties.
San José
Also called Sant Josep de sa Talaia, is located in the central west of the island. This municipality is home to several hotspots such as Cala Jondal, Cala Tarida and Es Cubells. Yet you can distance yourself from the party scene in San José due to the authenticity and tranquillity the area offers. It is a popular place for property investment because of its exclusive location and beautiful beaches where you can easily settle down on a terrace of one of the trendy beach clubs. Here you will find luxury villas with sea views and easy access to Ibiza’s most beautiful beaches. See options properties.
San Juan
San Juan is Ibiza’s northernmost municipality. Here it is possible to enjoy the more rustic island life and the legendary hippy vibe of Ibiza. The area is known for its bohemian laid-back and traditional atmosphere. In the romantic village of San Carlos, you can enjoy one of the fine restaurants, each with the same welcoming atmosphere. At the popular hippy market Las Dalias, you will find brightly colored stalls selling the cutest souvenirs. It is also a popular meeting place for locals. To end the day, head to Benirras beach. Here you will enjoy the sun slowly disappearing into the sea along with the drumming hippies. See options properties.
The countryside: or “el campo”. If you are looking for peace and quiet, the rural areas in Ibiza are a good option. Here you will find traditional fincas and villas surrounded by beautiful nature. These areas are often located in the interior of the island.
What is your dream home?
Once you have orientated yourself and know where you would like to settle, the next step is to choose the type of house. Will you opt for an authentic villa, a modern flat or rather a traditional finca (farmhouse)? Other factors such as your family composition, the size, the number of (bath) rooms and the presence of a garden also play a role. And don’t forget the nice extras such as a large swimming pool, an outdoor kitchen, a gym or a real padel court. Not quite decided yet? Don’t worry, we will be happy to talk to you and help you choose.
Buy a Spanish car or drive to Ibiza?
If you are planning to buy a vacation home in Ibiza, it is convenient (almost necessary) to have a car on the island.
One option is to drive a car to the island from an EU country. Note that after one year in Ibiza, the original license plate must be replaced with a Spanish license plate. With an EU driving license, you are allowed to drive in Ibiza.
It is also possible to buy a Spanish car. In Ibiza, the choice is often limited. You can also choose to purchase a car on the mainland and drive it to Ibiza. It is important to pay attention to the ITV (the Spanish MOT) when buying a Spanish car. This lasts two years for newer cars and one year for older cars. You can have this ITV done yourself in Ibiza in the following years. This is not the case with a car from another EU country.
Decorating your house in Ibiza
You have bought your dream house! Time to furnish it, completely according to your taste. This can be a fun and creative challenge. The island has a unique style characterized by rustic elements, natural materials and a relaxed atmosphere.
There are several options in Ibiza for buying furniture. Ibiza town has plenty of trendy boutiques and traditional furniture shops. The villages of San Juan and Santa Gertrudis also have some tasteful furniture shops with beautiful decorations from Oriental places.
It is also possible to outsource the decoration of your home to a local interior designer. Upon request, we will be happy to help you find suitable furniture shops, designers and interior designers.
Renting out your property – avoid fines!
During the busy summer season, letting your home in Ibiza can be a great way to generate extra income. Demand for holiday homes is incredibly high on the popular island. However, you will need a license for this. Different rules apply to flats. For instance, you are not allowed to rent out your flats for a day or a week. If you do, you risk a fine. However, it is possible to rent out your apartment or house to one tenant for a longer period.
Working with a rental agency can ease the process. This is because they can help you find tenants, arrange the key transfer and even maintain the property. If you are looking for a property for long-term rental yourself, feel free to contact us.
Maintenance of your holiday home
Speaking of home maintenance, consider hiring a caretaker to maintain the house when you are not there yourself. A gardener can do regular pruning and weeding. Especially during the dry hot months, it is important to make sure trees and plants are watered enough.
By carrying out regular maintenance and addressing problems quickly, your house in Ibiza will stay in good condition, making it a comfortable place to live or stay. A clean house, a beautifully maintained garden, that’s homecoming.
Taking pets with you? It’s possible! Can’t bear the thoughts of leaving your favorite four-legged friend at home? No worries, you can just take them with you! However, there are some rules. Your pet must have a microchip, be up to date with all vaccinations and have an EU pet passport. With airlines Vueling and Transavia, you are allowed to bring one pet per ticket. And only 3 pets are allowed per flight, so book in time!
Conclusion
There is quite a lot involved in buying a second home in Ibiza. It is wise to work with a reputable real estate agent who is familiar with the local market, regulations and knows the best locations to help you find a vacation home that meets all your needs. You have come to the right place. Contact us, we will be happy to help you find your dream home in Ibiza.