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Ibiza Property Guide: Buying a Property in Ibiza

Buying property in Ibiza is now more popular than ever, with increasing numbers of people following their dream in purchasing a holiday home, buying property to rent out or moving lock, stock to the sun. The British love the pleasant, healthy climate and in recent years the Spanish local authorities have made great efforts to increase the number of foreign tourists and residents.

Now is a good time to buy property in Ibiza as European interest rates are low and there is a wide selection of property options available, from developed plots, farmhouses and village locations, through to villas, townhouses and new apartment developments.

Buying a property abroad is an exciting experience. However, you must go looking for your home with an open mind. Using qualified professionals like us will protect your interests, making the purchase of your home in Ibiza a risk free and stress free experience.

Buying Checklist

Consider the location first and foremost. Decide on a particular town, village, development or hillside where you'll want to spend a lot of your time, or even live permanently. This involves a whole series of individual choices. Research the area to find out what it is like in different seasons, what facilitates are available and the travel times to different places. And ask yourself, would you be happy living there?

What are you looking for?

Think about the kind of property you are looking for - The area, size, number of rooms. But keep an open mind. It could be worth looking at different types of properties in different residential areas. By looking at a variety of homes you'll build up your knowledge of the present market values in the area you are looking.

Let us help you

Speak to us to discuss your exact requirements and explain what you'll need the property for. If you're moving to Ibiza you may want somewhere quieter, but if you plan to rent out the property you may want somewhere more commercial etc. A good agent like ourselves will help you through the whole purchasing procedure.

Legal issues

Discuss all legal issues and costs involved with one of our property advisors. We can recommend a solictors for you to use who will advise and assist you - Before you have decided on a property in Ibiza it is important to be fully aware of the legal process and costs involved in your property purchase. Whatever property option you choose, your experienced solicitor should anticipate all contingencies.

Administration

Organise your paperwork - There are administrational factors that need to be considered prior to your house purchase

Making an offer

Making an offer - Make your offer in writing if possible (of course, subject to contract), and include not only the price, but also the amount of deposit, when you are prepared to pay it, when you are prepared to complete, what you consider to be included in the price (for example furniture and fittings if applicable) and, an often neglected point, that all machinery equipment and installations should be in normal working order.

When an offer is accepted

When an offer is accepted - The solicitor takes the legal responsibility for checking the land registry and if all is well will then prepare a private contract which will bind both parties to the deal (you will be asked to lodge a deposit on the property, to take the property off the market). The solicitor will next prepare the public deeds (Escritura de Compraventa) for signature in front of a Spanish Notary.

After completion

Immediately after completion - The notary will fax details of the title deed to the local land register to inform them of the identity of the new owner. This will prevent the property from being sold twice. The notary and the land register act together to protect and guarantee your interests. Your solicitor can also arrange for the transfer to your name of utilities and services such as water and electricity and organise their payment through a local bank.

New Properties

For most buyers this will entail purchasing a plot of land on which to construct a new villa. The advice given regarding re-sale property purchase holds good for land purchase and the construction of a new villa.

Purchasing a new build property in Ibiza is one of you best options, currently the property market value is increasing around 20% per annum. So whether you are looking to purchase a holiday home or a an investment property the Spanish market is one of the best.

You can rest assured that all new build properties come with a 10 year structural guarantee.

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