Buying Guide Ibiza

Choosing the right location

Location is one of the most important decisions you will make, and the one most buyers get wrong first time.

Every municipality and neighbourhood has its own atmosphere, price profile and rhythm. The south-west is coastal and expensive; the centre is village life and land; the north is quiet and protected; the capital is walkable and urban.

Our Explore Ibiza section covers all five municipalities and every town and residential area within them.

Defining your search criteria

Before viewing anything, be specific about what actually matters: permanent home or seasonal, how many bedrooms you will genuinely use, whether rental income is required, and whether you want land or walkability.

Buyers who define this properly view five houses. Buyers who don't view forty.

Understanding the market

Asking prices and sale prices are different numbers on Ibiza. Supply is constrained by protected land and planning restrictions, which supports values but also means that the good properties move quickly and quietly.

Understanding what has actually transacted: and where: is the difference between a confident offer and a guess.

Buyer Representation

Most agencies are paid by the seller. Buyer Representation puts an independent advisor on your side: searching, evaluating, negotiating and coordinating due diligence entirely in your interest.

Financing your purchase

Non-resident buyers can typically borrow up to 60 to 70% of the valuation from Spanish lenders. Terms vary by lender and nationality, and approval takes time: start it early rather than after you find the house.

You will need an NIE number and a Spanish bank account. Both are straightforward with help and slow without it.

Making an offer

Offers on Ibiza are made through the agent and are not binding until the Arras is signed. Price is only one variable: completion timing, fixtures and deposit structure all carry weight.

Reservation agreements are sometimes used to take a property off the market while due diligence begins.

Legal due diligence

Your lawyer verifies title, outstanding charges and debts, planning compliance, licences, and: critically on Ibiza: whether the property as built matches the property as registered.

Undeclared extensions and pools are common. They are solvable, but you need to know before you sign, not after.

The Arras agreement and completion before the Notary

The Arras is the private deposit contract, typically 10% of the price. Withdraw as buyer and you generally lose it; withdraw as seller and you generally repay double.

Completion follows at the notary, where the public deed is signed, the balance is paid and the keys change hands. Taxes and land registry follow, and should be coordinated by your lawyer.

Costs to budget for

On top of the purchase price, budget approximately:

Transfer tax (ITP): 8 to 11% on resale property, on a sliding scale

VAT (IVA) + stamp duty: 10% + 1.5% on new-build purchases

Notary and land registry fees: approximately 1%

Legal fees: approximately 1% + VAT

Mortgage costs, where applicable: valuation and arrangement fees

A realistic total is 10 to 13% above the purchase price. We provide a written breakdown for your specific transaction before you commit to anything.

Support after buying

Utilities, insurance, renovation, interiors, staff and ongoing management are all part of what happens next. The Hoy Hoy Ibiza network was built for exactly this: it is the reason the real estate division exists at all.