Seriously thinking of buying a rental apartment in Ibiza

The_millsy

Member
As the title says, i've had this thought for years and I'm finally in a financial position to do so.

Just wondering from all you seasoned Ibiza vets. out there if you think its a still a good time to buy in Ibiza? I haven't done a proper research yet, I am going to of course. But I thought where else to start but my favourite forum.

I need to look in to:

mortgages in Ibiza
Getting property rented and and what price?
Maintaining the property from the UK
Where on the island to buy(I'm currently looking at a property at Cala Vadella overlooking the sea).

So much to look in to, so any help or personal experience would be greatly appreciated. I am going to rent the property out( i'd have to), but it will also be a second home for my family.
 

Vinyldreams

Active Member
Hi

I live out here ,
Rent , but also looking to buy,

Ok 1st thing
As a non resident a mortgage on the property would be a maximum of 70%

Then you have a 10 % tax when buying

If you are a resident you can get a 80% mortgage

Maybe you don’t need finance

If it’s a apartment you can not rent it out weekly , only yearly !!
No air B and B

If you are looking to visit all year check Santa Eulalia as it’s busy all year ,

West coast is lovely but very quiet
 

stivi

Super Moderator
Staff member
Hi Stivi

So the 100s of apartments on Airbnb currently. How do they all get round it?
some of them have a license. lots don't and last year the first ones have been fined for that. you can't get any more licenses if it's an appartment, only a proper house.
 

Vinyldreams

Active Member
Hi Stivi

So the 100s of apartments on Airbnb currently. How do they all get round it?
They are looking to fine all owners that rent illigally . I’ve hear a few stories of €20k fines ..
but if just renting to friends you will be ok .

You just can’t advertise it .

They have asked for all the details of owners from Airbnb and trip advisor so they can track them down
 

jimmiz

Well-Known Member
some of them have a license. lots don't and last year the first ones have been fined for that. you can't get any more licenses if it's an appartment, only a proper house.
Not possible to rent for a week for example? In all the island?
 

stivi

Super Moderator
Staff member
It's stupid in place like Portinatx, I can understand in Ibiza or SA,but for touristic places like my block it's a nonsense
McRackin will know better, but maybe you're lucky. st. joan is maybe not prohibiting it, I think I've read something somewhere but am unsure now
 

The_millsy

Member
Does this only apply to foreign nationals or to Spanish people too?

So let me get this straight.

If I buy a apartment in Cala Vadella I could not rent it out for weeks/months out via an agent, Airbnb etc legally?

I could only rent it out to “friends”.
 

stivi

Super Moderator
Staff member
Does this only apply to foreign nationals or to Spanish people too?

So let me get this straight.

If I buy a apartment in Cala Vadella I could not rent it out for weeks/months out via an agent, Airbnb etc legally?

I could only rent it out to “friends”.
applies to every nationality, very much including the spanish too.

your assumptions are correct. and if you do rent out to ‘friends‘ you still need to be careful since residents are now actually encouraged to report if they see people renting out illegally
 

The_millsy

Member
Just found this this online with regards to the new rules

Apartments

Apartments will now have the possibility to obtain a rental license but only if the board of owners allow this.
Furthermore;
1. Each license will have to renewed every five years.
2. The rental agent has to inform the clients in writing about the house rules and ensure they are understood and respected.
3. If the rules are not respected the rental agent has to require the tenant to vacate the property within 24 hours.
4. The owner has to have sufficient insurance to cover damages that the clients may cause to the community property.
5. There has to be a service number for the community open 24 hours.


So I'm reading that I can rent if I get a licence?
 
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