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Tips & FAQ’s to buy property in Ibiza

Buyers Tips & FAQ’s for properties in Ibiza

What is a gestor in Ibiza? This is a person who you can hire to deal with all the administrative matters. In some cases, the gestor works independently or for a gestoria, this is an administration office.

What is a NIE number and why do I need it? The NIE number is a Spanish identity card for foreigners who are non-residents in Spain. This NIE is also your Spanish tax number. Your lawyer, gestor or the Spanish embassy in your home country can arrange this for you. Without the NIE it’s not possible for a non-resident to open a bank account or to buy a house in Spain.

Do I need a Spanish bank account to buy a house in Ibiza? Yes, it is necessary for you to open a Spanish bank account. For this, you will need the NIE number also. When you purchase a house there are several other expenses to include in your overall budget.

What is the role of the notary if I want to buy a house in Ibiza? The completion and the transfer of the property take place at the notary and is recorded in a notarial deed. The notary checks whether there are any claims on the property and whether the seller is the actual owner. The due diligence needs to be done by your lawyer.

What do I have to think about when I buy a house/apartment in Ibiza? When you are considering purchasing a property there are several things you should consider. Here are some of the most common concerns. What if the children go to school in Ibiza? What is the average Travel time to school? Is there a supermarket in the neighbourhood? Who are my neighbours and do they let their house? Can I rent my house? Is there a hospital nearby? Are there enough recreational activities? How crowded is it during the high season? Here are a few suggestions  you can consider: safety / low season / letting or permanent stay / surroundings / close beaches or town / maintenance etc. A lot of authorities only work with bank’s established in Spain especially for the utility bills.

What happens after I have an agreement to buy a house/apartment in Ibiza? Once your offer has been accepted by the owner it is important that the private contract ( Arras contract) is drafted by the lawyers. This can take 1 to 4 weeks before it is approved and signed by both parties. In the meantime, the owner is still entitled to do business with other interested parties. Unfortunately, it can happen that the owner doesn’t respect the agreement and can change his mind at the last minute. Our advice is after we find your dream home, act fast! As long as the private contract isn’t signed by both parties and the deposit hasn’t been paid, the sale isn’t secured.

Another possibility is a reservation contract. For a relatively small amount ( between 2.500 – 10.000 euro) the house can be taken off the market. This will give the buyer and the seller more of a commitment to a sale during the draft and finishing of the private contract. It’s important that the buyer is aware that if the private contract isn’t going to be drafted and signed that the reservation amount could be lost. We recommend getting a reservation document signed prior to the private contract (Arras contract). In today’s Ibiza real estate market properties are sold quickly and it would be a pity to lose out on your dream home due to a simple commitment.

What should I think about if I want to build/renovate/restore a house in Ibiza? To build your own house in Ibiza can be an interesting adventure and without a doubt a big challenge. There are several factors you need to consider. Renovating or restoring an old house in Ibiza is not something to be underestimated. It’s essential to ask for accurate estimates from several expert local builders.

Should you decide to purchase land without a building license, you would require the services of an architect to obtain this license. It can take around 2 years and in some cases, it can take longer. Another option is buying land with a license to build. As soon as the license is given you normally have 1 to 1,5 year to start building. For the building process, you need a very good team of architects and builders you feel comfortable with. If you’re not living in Ibiza during the building process it’s advisable to also take a project manager on the payroll.

When is the best period to buy a house in Ibiza? During the holiday season many houses that are for sale are temporarily rented, therefore it can be difficult to view some houses. The holiday season starts from April to mid-October and the high season is the month of July and August. Some houses are still available to view during the holiday season. So if you are planning to come to Ibiza during the holiday season you should be aware that it can be a challenge to see all the houses on your wish list. We advise our clients to tell us beforehand when they are planning to come to Ibiza. The best period for viewings is October to mid-December and mid-January to the end of June.

Why do I need a lawyer if I want to buy a house/apartment in Ibiza? If you want to buy a property in Ibiza there can be several pitfalls which you as a buyer should be aware of having a lawyer will help to make the purchasing run more smoothly. Your lawyer will for example research: Is there an outstanding debt on the property? Are all local taxes paid? Is the land registry data correct? License and contract controls? Which agency or seller are you really dealing with? Ibiza Now can recommend you a good lawyer.

Can I apply for a mortgage to buy a house/apartment in Ibiza? As a foreigner, you can apply for a mortgage at a Spanish bank if you want to buy a house. What the lender needs when you are self-employed is the annual income for the past year and the bank statements from the previous 6 months. If you qualify for a mortgage then the maximum loan that the lender offers is up to 60%-70% of the assessed value of the house. The duration varies from 20-30 years. Banks offer flexible interest rates between based on the Euribor. Ibiza Now also works with a number of well-known banks in Ibiza.

Which area of Ibiza is best to buy a property? The beautiful island of Ibiza has so much variety. For this reason, it’s important to know beforehand where you want to live. live. Below we divided Ibiza into 5 areas to make your search easier. You can also use our “advanced search” button on our homepage.

SOUTH & SOUTH-WEST: The area of  San José, which is the South/South-west of Ibiza and between 10-30 minutes from the airport. You have many popular beaches, beach clubs and the magical rock of Es Vedra in this area. It is more densely populated than other parts of Ibiza and highly sought after. Because of the high demand for and the scarcity of beautiful venues, the properties can be higher priced in this area. There are many luxurious villas in the area of San Jose, some well-known places in this area are: Km5, Cala Jondal, Es Porroig, Es Cubells, Vista Alegre, Sant Augustin, Cala Conta, Cala Tarida, Calo den Real, Cala Vadella and Cala Carbo

CENTER: In the central surrounding areas of Ibiza town you are closer to the entertainment, the harbour, and the old town. About 10-15min from the airport. There are mostly apartments in the centre and villas in the surrounding towns. The prices in some parts of this area can be higher than elsewhere on the island. Some well-known places in this area are Marina Botafoch, Dalt Vila, Can Furnet, Can Rimbau, Can Pep Simo, Cap Martinet, Jesus, Talamanca, Ses Torres, Can Misses and Salinas.

MIDDLE & NORTH-EAST: In the area St Eularia, the Middle/North-Eastern part of Ibiza. About 25-50min away from the airport. This area contains much farmland, open fields, green forests, and hills. Here it is quieter and sparsely populated with large plots of land, villas, and old/modern fincas.  This area is increasing in popularity due to its rural pleasant surroundings, central position, tranquillity and relatively lower prices. Some well-known places in this area are: Santa Gertrudis, San Lorenzo, Roca Llisa, Cala Llonga, Siesta, San Carlos, Cala Llena, Cala Nova and San Vincente

NORTH: In the area of San Joan, the north of Ibiza, about 40-60 min drive from the airport. This area is sparsely populated, very upcoming and relatively lower priced. The north is known for its green forests, quieter family orientated beaches, tranquillity, beautiful landscapes, hills, mountains and breath-taking sunsets. Some well-known places in this area are: Benirras, San Miguel, Portinax and Na Xamena

WEST: In the area of San Antonio, the West of Ibiza, about 25-45min from the airport. This area is also famous for the younger crowds for several famous nightclubs & discotheques such as Amnesia and Privilege. However, this area also has so much more to offer. There are several popular beaches, ample farmland, tranquillity, hills, green forest and excellent amenities. You will find beautiful villas and fincas here as well. The prices can be relatively lower. Some well-known places in this area are Cala Salada, San Rafael, Santa Ignes and San Mateo.

Which property best fits my lifestyle? Everyone is different and has his own type of lifestyle. To have a better understanding of our client’s needs, we discuss in a personal interview these particular needs. Below we have  selected a few sample questions of this interview:

.What is your household?

.Are you buying the property for yourself, your family or investment or as a business?

.Are you looking for a holiday home, permanent residence or holiday rental?

.Do you like the hustle and bustle or peace and quiet?

.What are your recreational activities?

.Are you looking for an apartment, villa, Finca or land?

.In which areas of Ibiza would you like to buy a property?

Should a construction survey take place before I buy a house in Ibiza? If you are planning to buy a home in Ibiza, it is a wise option to have a building inspection take place before the completion of the deeds. In principle, most houses that are completed in Ibiza have had a construction inspection from the municipality. But it certainly can’t hurt to have an updated inspection to avoid unpleasant surprises. 

Can I rent my apartment or house in Ibiza? If you decide to rent out your house for a holiday rental then you will need a rental license. A house must meet certain criteria to qualify for this rental license. It is illegal to rent your apartment daily or per week in Ibiza. There is an exception if you rent your apartment for a longer period to one tenant. Although it is illegal to rent holiday apartments per week, many home-owners do it anyway and take a risk of a fine.

Can I get a rental license for my house/apartment in Ibiza?  You can’t apply for a rental license on an apartment, only for houses. In 2017 the government changed the regulations to apply for a rental license, for more information please contact us or your lawyer/gestor.

Why buy property via a reputable real estate agency in Ibiza? It is recommended that you work with a reputable real estate agency from Ibiza. There are many real estate agencies that offer Ibiza properties but aren’t located in Ibiza. Very often these agencies aren’t in direct contact with the owner and that can cause problems. It’s important to live in Ibiza to know and understand it’s fastly changing real estate market.

There are many private people who promote themselves as a real estate agents and at the same time are practitioners of many occupations. We advise you to work together with a specialist from Ibiza. Ibiza Now is a real estate agency that filters the housing market for you according to your needs. This can save you a lot of time, hassle, and problems. Instead of talking to many people, Ibiza Now can guide you through the buying process, safely and efficiently.   

I want to move/emigrate with my family to Ibiza? Ibiza is a beautiful place to live, especially for families with children. There are plenty of unspoiled nature, good weather all year round, outdoor recreation and health food shops. The island has a lovely, dynamic, large international community. Ibiza has a lot of positive energy, peace, tranquillity and attractive quality lifestyle to offer.

How are the schools in Ibiza? There are good schools in Ibiza, especially in the private sector. You can choose to put your child in a public school which offers free education. However, in the public schools, you should take in consideration that they teach in the Catalan language. This considered it could delay your child’s adaptation process. The yearly cost for a private school is between 5.000 and 12.000 Euro per child. The most popular private schools are. Colegio Morna in Santa Gertrudis and Colegio Mistral in Can Misses near Ibiza town. Both schools are very recommendable and popular with the entrepreneurs and expats. Website: http://colegio-mestral.com/w3/  and    http://www.micibiza.com/

How does the school system/ education work in Ibiza? You have kindergarten from 3-5 years afterwards the primary school between the ages of 6-12 years. Some schools still use school uniforms. In high school ( ESO) from 12-16 years. Education from the age of 6 to 16 is compulsory in Spain. After ESO ( high school) children can choose to do Bachillerato for 2 years and then go to university on the mainland Spain or in your country of origin.

What are the significant differences in Ibiza? Ibiza is a beautiful island with its own dynamics, great climate, beautiful nature, and open-minded people. The pace can be much more relaxing than what you are used to and you should consider that the siesta is between 14.00-16.00. This pace difference can often require more patience and flexibility than previously considered. Buying a property is exciting and there are various stages during this entire process. Given that we have a comprehensive understanding of both Ibiza and the buying process we are well equipped to accompany you.

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