Buying a Property in Ibiza with Bazzar Estate

Ibiza Island has remained a highly demanded location for a "home away from home". Since the recent announcement of the Ibiza clubs reopening in April 2022, we are expecting the demand to rise to an incredible height. Some say that this Summer will be our Best Season Yet. Apart from the obvious Mediterranean luxury, Ibiza had always enveloped us with her indescribable magic which we  can never get enough of. 

If you are one of the luckiest people who have connected and fallen in love with Ibiza magic, its notorious social scene and "larger than life" lifestyle, beginning to look at a property to buy in a foreign country as a foreigner can seem intimidating at first, as Ibiza is an independent kingdom that writes its own laws and regulations. 

The key to a successful purchase is a reputable local property agent, like BAZAAR ESTATE. 

At BAZAAR ESTATE we are dedicated to providing a complete spectrum of services from property search, legal process until the moment of you receiving the keys to your new castle.

When you reach out to us our first meeting is designed to discover your dream Ibiza Lifestyle and find a home which perfectly suits your vision. Based on the assessment of your preferences and budget BAZAAR ESTATE will begin to prepare your personal property portfolio.

Our Portfolio at BAZAAR ESTATE consists of 250+ handpicked and carefully curated villas. Our contacts are direct and exclusive. You will find island gems that no other agency will offer to you.

When you’re moving to Spain from a foreign country you may not have had a full immersive Ibiza experience, yet.  In a few words you can describe it as: a socialite’s delight with a business network to boast, surrounded by over 300 beaches with some of the best entertainment in the world as well as an unforgettable gastronomic tour available on demand. When you buy a home in Ibiza you also buy access to the most envied social circles of our time.

Types of Properties You can Expect to Find on the Island of Ibiza 

Front line Beach properties – ranging  from apartments, detached and semi detached houses and villas. Interior design varies from "Country Chic" to "Elegant Minimalism".

Rural finca or Farm–  is the perfect choice for countryside lovers, who adores country chic and desire to enjoy the agricultural abundance of the giving soil of Ibiza that bears the fruit of home grown avocados, oranges and lemons, fig trees, pomegranates and more. Blackstad, our famous island architects take the lead in preserving the authentic Ibiza style, while tastefully merging it with your unique character. 

State of the Art Super Villas – Constructed with internationally renowned architects, facing roaring sunset sea views, remarkable floor planning and unexpected interior pieces. Usually include contemporary entertainment areas such as swimming pools, indoor gym, cinema and more often than not, your very own private night club. 

New developments – edificios are a perfect choice if you are looking for an apartment or penthouse where the pool and garden maintenance is included as well as other amenities such as gym area and tennis courts as well as a short walk to a local beach and the pueblo.

Finca 70s – makes for a perfect renovation project. Ideal to flip, these series of houses were built in the 70’s, all look alike with thick walls, the dark wood finish and a warm tile. 

Legal Advices 

Our personal advice for you to hire a local lawyer as Ibiza has its own rules and regulations, different from mainland and all areas. Do not go into Ibiza with a lawyer from Mainland thinking that they will be useful. Ibiza is known to be an alternative island, where the same rules apply.

NIE number is a personal identification number assigned to every expat in Spain. It includes a personal tax code as well as social security number. It will be used during your property purchase, tax payments or while opening a business. Our lawyer will assist you in receiving the NIE number.

Due diligence must be carried out before the signing the reservation contract, as the sum will not be returned.

Necessary check points include: the current legal status of your property, making sure that the property is free of debts, ensuring that there are no outstanding debts on the utilities and the legality of original construction. Due to ongoing reforms in the law you must always carry out your due diligence before signing the contract.

Reservation contract reserves your right to purchase the property. The cost of this contract delivery is calculated at 10% of the total property price. Payment is made during the signing of the reservation contract, certain clauses are open for negotiation. This 10% is considered an advance on the agreed price of the sale. Your chosen legal representative will be overseeing the completion of this process.

Notary fees will vary based on the price of your property approx. 600€ – 875€. At this stage you will need to pay the outstanding balance of the property and receive your "Nota  Simple". Making you officially the new owner of your Ibiza Fortress.

Public Deed Fees

Usually the seller is responsible for the fees associated with the delivery of the public deed and the buyer is responsible for the payment for the first copy of the deed and other copies.

The property registration fees depend directly on the price of your Ibiza property.

VAT / IVA 

In the sale of a new property, VAT as a general rule amounts to 10%.

Resale tax for used homes Tax on Patrimonial Transmissions (ITP) will depend on the property value and on the locality and autonomous community and is expected to be between 6% and 10%.

Agency percentage is usually included in the sale price and is payable by the owner.

Mortgage expenses are expected to be between 1% and 2.5%. In house mortgage advice is available on demand at BAZAAR ESTATE.

In total we would suggest to calculate an additional cost of 10% -15% into the agreed selling price. 

If you choose to rent your property you will need to obtain a Tourist License and pay a separate tax, that will be calculated based on the yearly income total.

Taxes

BAZAAR ESTATE  will provide a private consultation regarding the tax payment on your chosen property purchase.

If you have questions our team will be happy to answer any of them. Contact us now. 

GET IN TOUCH

If you have a question, or need anything from us, just fill in the form.


    Salinas is one of our absolute favourite beaches. Situated in the south, 10 mins from Ibiza airport. First we have to mention the drive to the beach, which is unlike any place on the island. Ses Salines is a National Park, on your way there you will see pink flamingos near the salt evaporation ponds, where Ibiza’s famous SAL de IBIZA is produced. 

    Salinas is a long beach, perfect for a marvellous hike. This is where the annual 1st of January traditional run into the sea happens and the locals gather every winter to mingle and celebrate the beginning of a new year. 

    Starting with warm sand, perfect for a barefoot stroll along the soft waves massaging the shore. First you will see Beso Beach, situated in a prime location offering luxury sun-beds, beach service, a restaurant with your favourite Mediterranean dishes. Next you will pass the Jockey Club, this place is packed with the energy of excitement and dancing is very much allowed and beach beds are also available. Remember to book in advance as the Jockey Club is in high demand all year around. Here you can enjoy a stroll in shallow waters.

    Towards the end of the beach you will see the Ibiza Residents favourite spot: Sa Trinxa. Only local DJ legends, with music so good it will make the whole beach dance. Where you do not need a reservation and a table with ice cold drinks and Mediterranean delicacies will be brought to you on the beach. Here you will find a green plank, at the end of which you can dive into deeper water. Watch out for the buoys, they keep you safe from being caught in a vortex or being carried off onto sharp rocks by a wave.

    As you continue to walk along the shore you will begin to see how the soft sand will change into hard cliffs, the change of texture and colour is radical and will enable you to enjoy the Salinas experience in multiple ways. If you continue to walk to the end you will see coves, stone carvings, cliffs, a pine forest and at the very end, a watch tower. 

    Cala Jondal is situated towards the south of the island, San Josep. This is a luxury beach and a home to many household names: the island’s favourite Blue Marlin, which needs no introduction. Forever loved and cherished Yamanja, and relatively new and exquisite Can Jondal, serving you the most abundant tables and drinks galore. The whole beach stretch feels like a festival, whichever venue you decide to visit for lunch you will be submerged into a world of decadence and pure joy.

    Cala Comte in the area of San Antoni is a masterpiece and not a beach. If you are planning a trip there, Bazaar Estate would advise you to plan a trip for the whole day. We promise you that once you arrive you will not want to leave again. Not only will we mention the unbelievably clear waters, the colour of turquoise that you will not be able to take your eyes off but that the beach splits into two parallel worlds. On the left you have a softer wave and a more cove-like feeling, resting at the foot of a cliff on top of which Sunset Ashram is placed gracefully. The restaurant serves you pure Ibiza Vibes through their eloquent menu, cocktails and music curation, inviting only the most talented, atmospheric & local DJ’s to create a perfect soundscape for your unforgettable moment. The restaurant overlooks a panorama so grand, your peripheral vision will not suffice. 

    You can take the stone stairs down to the connected beach on your right. It is longer and hosts a water sports area where you can rent a jet ski to observe the natural beauty of this place from a different perspective. At the end offering a traditional restaurant with an equally spectacular view. 

    Punta Galera is a small and secluded point situated in the south of Ibiza in the area of San Antonio, on an old stone quarry forming a flat cliff perfect for bathing in the nude. You can safely dive into the water and get back up. This particular location doesn’t offer sand or a Chitinguito, so we advise you to bring a picnic. 

    Cala Nova is a spectacular curved stretch with soft sand and waves sufficient for the dedicated surfer. 

    The waves get strong, it makes sense to be mindful of the intensity, while you play in the waves and experience a throwback to a sweet moment in childhood.

    On the beach you will find multiple restaurants and beach clubs such as Aiyanna beach,  L’Amorigen,  Atzaro Restaurant & Chiringuito. Whichever you pick- it will be a good choice. All venues share the same spectacular views, delicious menus and Ibiza atmosphere which gives you a sense of otherworldly reality, where paradise is truly possible. 

    Cala Xaraca is a mermaid cove beach perfect for snorkelling. Situated in the North of the island on your way to Benirras. It can get crowded at the main sandy beach, as it boasts a magical gradient of turquoise and clarity of water that will leave you stunned. There is a path on your right, where through the rocks you can reach a more secluded part, it offers more privacy as it is hidden. Loved by local residents, needless to say that nudity is welcome here. You will find an area you can safely climb onto different levels and jump off into the clearest and softest waters that make you feel as if you’re being wrapped in silk. You will find a local restaurant on the main part of the beach. It is also a perfect spot for a picnic. There is little shade on the beach so we advise you to wear sunscreen and don’t forget a hat. 

    Benirras is a legendary beach famous for its celebratory atmosphere. Here, you will absolutely run into your partners in crime and most likely see all the people you have met by chance already, especially on a Sunday. This day in particular is known to attract many tourists as well as locals. Due to the daily ritualistic drumming sunset session, where local hippies gather with their instruments and their handsome hearts to dance, drum and sing to the setting sun. This has become such a spectacle that the beach joins the ritual at full capacity. You can hear the drum beat and joyful cheer from the car park. This day is particularly busy, so to avoid traffic jams and unpleasant parking situations, the Bazaar Team advises you to arrive early and spend the whole day here. 

    Elements Restaurant is the locals favourite and when the locals love it, we know you will love it too. The owner is a very much loved Ibiza Winter Resident who has deep and meaningful connections with many charismatic locals and this feeling of community and deep connection is exactly why Elements was created. Offering lunch and dinner menus, smoothie bar and a smooth transition into a nightclub when the sun goes down. Right after your participation in the drum ritual, Elements awaits you on the dance floor.

    GET IN TOUCH

    If you have a question, or need anything from us, just fill in the form.


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