buying property in ibiza!!

kj19

Active Member
HI
i am looking to buy some property in ibiza in the next couple of years as soon as i have saved up enough and was just wondering if any 1 has any advice or can direct me to any good websites regarding buying property in ibiza..

even though i will still live in the uk i would like something like a small apt etc in ibiza

i will b lookin to spend around 110,000 euros and would buy one anywhere with a view (exept san an)

how do i go about this..

thanks for any help
 

grego

Active Member
you're right it'd be a small aprt for €110000. that's not gonna get you very far.

the www.ibiza-spotlight.com has a property/real estate section. otherwise there are hundreds of inmobiliaria websites for ibiza real estate. google inmobiliaria ibiza and happy hunting.

the most thorough way is to be on the island and use papers/ads tho.

good luck
 

devonfunlovers

New Member
110.000 euros shed for sale!

Without in any way wishing to be rude to you KJ19, also not wishing to burst your dream bubble.....but.

Having looked at property on the island in both May and September last year, with a real desire and intent on buying if we found the right property....we chose to spend our euros on the mainland instead.

110,000 euros on Ibiza will get you just about the same as it will in the south east of the UK.....just about nothing, as I said before, not wishing to be rude or nasty but 110,000.....and with a view?

Incidentally, our budget was 180-210,000 euros and we even found that a big ask at the prices that were being achieved last summer, we did find some decent properties around the 200,000 mark but nothing to what our money would get us on the mainland.

Happy hunting and hope it works out for you, if you find one.....get back to us and we'll have one!
 
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blackswan555

Active Member
you won`t get a lot for €110,000, a studio in Port Des Torrent @ €115,000 or a studio in Cala Vadella close to the beach @ € 122,000, Dont forget you will have to pay around 10% in tax`s and other cost`s on top of the price, but on a plus side the govenment has just cut the gains tax when you re-sell from 40% to 18 %
Have a good one
Tim
 

samboo

No longer active
I have to say we came over to buy an appartment last April did all our homework before hand ,had appointments with 3 agents thinking we could afford 220 euros ! How wrong can you be ! wasted the first 2 days lookng at lovely 2 bed appts. at the above price till an english agent told us we could only borrow 70% on a spainish mortage ...........Oh dear quick re appoint and got to see some very small one bed ......after setting our sights a little lower (lot lower)we saw a 45m2 one bed appt overlooking the communal pool and fell in love with it! good job really cos we weren't getting any bigger ! we bought it there and then but when you add taxes and extra cash you have to pay its scary. we paid 136 euros in june last year and we're offered 220 euros this easter great return in my book !!! But no way am i selling my 45m2 of Siesta .
 

sam23

Active Member
I have to say we came over to buy an appartment last April did all our homework before hand ,had appointments with 3 agents thinking we could afford 220 euros ! How wrong can you be ! wasted the first 2 days lookng at lovely 2 bed appts. at the above price till an english agent told us we could only borrow 70% on a spainish mortage ...........Oh dear quick re appoint and got to see some very small one bed ......after setting our sights a little lower (lot lower)we saw a 45m2 one bed appt overlooking the communal pool and fell in love with it! good job really cos we weren't getting any bigger ! we bought it there and then but when you add taxes and extra cash you have to pay its scary. we paid 136 euros in june last year and we're offered 220 euros this easter great return in my book !!! But no way am i selling my 45m2 of Siesta .
well,i borrowed 80% from the cam bank in ibiza town for my apartment 3 years ago.
i did get caught a bit with the tax etc though. then i had to furnish it. it all added up.
nearly doubled in value now though so laughing.:D
 

grego

Active Member
I have to say we came over to buy an appartment last April did all our homework before hand ,had appointments with 3 agents thinking we could afford 220 euros ! How wrong can you be ! wasted the first 2 days lookng at lovely 2 bed appts. at the above price till an english agent told us we could only borrow 70% on a spainish mortage ...........Oh dear quick re appoint and got to see some very small one bed ......after setting our sights a little lower (lot lower)we saw a 45m2 one bed appt overlooking the communal pool and fell in love with it! good job really cos we weren't getting any bigger ! we bought it there and then but when you add taxes and extra cash you have to pay its scary. we paid 136 euros in june last year and we're offered 220 euros this easter great return in my book !!! But no way am i selling my 45m2 of Siesta .
so the value has gone up by over 60% in 10 months!:eek: :eek: :confused:

really?? your property hasincreased by 60% in less than a year, yet sam23's has only nearly doubled in 3 years??
 

stephen

Super Moderator
Staff member
whoever offered nearly €5000 per square metre for your apartment probably has plans to put a golf course or motorway on it. (or some other fabulous money making scheme)
 

samboo

No longer active
The Russian guy who offered it us at Easter has 3 other family friends on the complex and there is nothing else for sale ! money no object ...... must be down to location location location !!!!!!!!!!!!!!!!!!11
 

blackswan555

Active Member
quote "money no object"
tell him €220,000 on the books , €220,000 black money, mmmmm nice boat and another apartment :lol: :lol: :twisted: :twisted: :lol: :lol:
Have a good one
Tim
 

nickclayton

Active Member
an english agent told us we could only borrow 70% on a spainish mortage...
You can get 80% mortgages, but, that's only part of the story. The percentage applies to the price that the bank values the property at. The valuation is based mainly on a combination of the size of the property and the amount that surrounding places have been sold for officially.

Without going into too much detail, there's quite a difference between the price of the property that's officially registered and what you actually pay. So you might get 80% of, say, 250,000 euros while you've really paid 300,000 euros. Then there's the taxes and fees on top for which you need to allow another 10%. So, in this case, you'd have a 200,000 euro mortgage and need to find another 130,000 euros on top.

There are ways of improving your situation. Some banks are more generous in their valuations than others. Shop around and don't just go to the place your estate agent recommends. Don't forget the agent is probably getting commission from the bank. In fact, if you can avoid agents altogether you may save money. The standard commission they get on a sale is 5%.

On the other hand, you can find it easier to negotiate through an agent than directly with a seller. It's in the agent's interest to close a sale as quickly as possible. Don't forget, for every 20,000 you get knocked off the price they only lose 1000 in commission.

Also the Spanish property market is very nervous at the moment. A big fall is expected. Remember that when you're negotiating. Many sellers are keen to get out while they can.
 
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