Seriously thinking of buying a rental apartment in Ibiza
- Thread starter The_millsy
- Start date
Vinyldreams
Active Member
Correct ,
Vinyldreams
Active Member
I run a removal company on the island , people are selling up because of this rule , we also have customers moving from large house that they rent , sub let as B and B , and they are moving due to the laws .
Vinyldreams
Active Member
Do you have buy to let’s on the Uk ??
If no id advise to maybe invest there and just rent a place for holidays here ,,
Ibiza property needs a lot of care out of season , the market here is also crazy , with what’s going on with the island , the laws , modify knows what’s going to happen next .
My biggest worry is 1 year they pull the plug on the clubs , shut them at 3am , something stupid like that .
All of a sudden we have crazy house prices and no customers , we will be Mallorca .
If no id advise to maybe invest there and just rent a place for holidays here ,,
Ibiza property needs a lot of care out of season , the market here is also crazy , with what’s going on with the island , the laws , modify knows what’s going to happen next .
My biggest worry is 1 year they pull the plug on the clubs , shut them at 3am , something stupid like that .
All of a sudden we have crazy house prices and no customers , we will be Mallorca .
2H76
Well-Known Member
Q - can I rent a studio/apartment for a block of six or seven months? I have no intention of sub-letting it out to friends, let alone strangers. Anyone? I know you used to, I looked it up but didn't have the readies then.
EDIT More thinking of 1 April - June 30 then Sept 1 - Oct 31. So 5 months out of seven.
EDIT More thinking of 1 April - June 30 then Sept 1 - Oct 31. So 5 months out of seven.
Vinyldreams
Active Member
You can find seasonal tents but sometimes it’s more expensive then renting for a whole year !!
I know crazy ..
Get down to can pa , have a word with some locals in there they will find you a place .
The_millsy
Active Member
Great advice mate. Thanks.
Horrified Onlooker
Active Member
Getting into Buy to Let in the UK now is not a good idea for similar reasons to Ibiza - high property prices, high rents, young people unable to get on the ladder etc. The government has realised that it's a toxic situation (they know that renters don't tend to vote Conservative) and landlords are therefore being targetted with tough tax measures to encourage them to sell up.
http://www.telegraph.co.uk/personal...-let-stampede-begins-best-sell-37-properties/
The_millsy
Active Member
So something else has dawned on me.
I’m been renting holiday apartments in Ibiza for years, more recently via Airbnb.
So do these new rules means that you can no longer rent apartments for a holiday?
Seems a bit harsh if so.
I’m been renting holiday apartments in Ibiza for years, more recently via Airbnb.
So do these new rules means that you can no longer rent apartments for a holiday?
Seems a bit harsh if so.
cunninghamali
Well-Known Member
Yes thats correct unless you got the registration number
Vinyldreams
Active Member
Be a good idea to ask to see there license no ,
It would be the safest option .
Btl in the Uk !! Hundreds of thousands of investors are doing ok with it ..
Yes they will tax you ,,
Better then buying bitcoin
fatphilb
Well-Known Member
Unlicensed holiday rentals are one of the main reasons there is a housing crisis in Ibiza just now, because ordinary ibicencos and other residents cant afford the current rental prices, or get a lease covering them for a year, as short term summer lets are much more profitable (same goes for other major tourist desinations) and they dont contribute to the economy via taxes. They are often rented out and then sublet illegaly, im not sure but im sure ive read there are even organised gangs involved in this now. But in the main its probably just ordinary folks trying to figure out a way to live on ibiza themselves (stayed in an airbnb myself before i understood the damage it was doing and the folks we dealt with seemed to just be young people doing it as a way to stay on the island themselves). Also, unlicensed rentals tend to be in residential areas and can cause all kinds of annoyance, rowdy pissed up tourists, banging tunes, parties etc. Theres been a real backlash against this in recent years, theres a few lengthy threads on here about it all.
Kim Wrong Un
Active Member
I'd advise anyone to watch those links McRackin put up last year. some absolute horror stories about the impact of the rental market on locals/workers. you cannot have a free market in such a limited physical space. It does not work for anyone except the super rich.
fatphilb
Well-Known Member
It was our dream to move to Ibiza, but the more I read posts like this, the more Im glad we didnt sell up and move here a couple of years ago,
It wouldn't really affect you unless you were planning to not live on the island as your main home and advertise the property for short term rent while you weren't there.
Unless you mean the wider changes to the island, which is part of a much bigger discussion.
jimmiz
Well-Known Member
So from now only the rich can make money with houses...And for the middle class people like me who worked really hard to buy a place in ibiza,it's not possible...
We had the project to buy a studio to live in summer while we would rent our appartment,legaly of course.
the result is we will not do it,so it means less taxes for ibiza,less tourists in my zone,less money in supermarkets,rstaurants,etc...
i can not understand this law in place like Portinatx...Really stupid.
We had the project to buy a studio to live in summer while we would rent our appartment,legaly of course.
the result is we will not do it,so it means less taxes for ibiza,less tourists in my zone,less money in supermarkets,rstaurants,etc...
i can not understand this law in place like Portinatx...Really stupid.
Yes I meant as a bigger thing, just seems more and more ,that government want the island for the rich, checked flights today. still expensive, unless you want to do 2 stops on route, normally by now,prices have dropped for May, brought kids last August and they didnt like it, it was too busy for them,so planning on May holidays instead.
If things changed and the island went back to not just being for the rich . at least kids would be a lot older by then.
If things changed and the island went back to not just being for the rich . at least kids would be a lot older by then.
The_millsy
Active Member
"
Now the law is in "moratoria" (moratorium) it means all is stoped now. Only can rent the houses who have Touristic Rental License or aplayed Touristic Rental License, but nobody can apply for a new License till the new law. The new law will be more restrictive and is spected for the end of summer season, but still without official day.
Anyway, neither now nor after the flats or apartments can have Touristic Rental License, only detached houses or entire blocs of apartments, but the new law is spectec more restrictive, only detached houses and in a determinate zones.
But nowadays all is a supposition, we must to wait for the new law.
"[sic]
I received the above from a local estate agent I've been dealing with. So its seems you can only make money if you already have lots of it. How is that helping the locals?
Now the law is in "moratoria" (moratorium) it means all is stoped now. Only can rent the houses who have Touristic Rental License or aplayed Touristic Rental License, but nobody can apply for a new License till the new law. The new law will be more restrictive and is spected for the end of summer season, but still without official day.
Anyway, neither now nor after the flats or apartments can have Touristic Rental License, only detached houses or entire blocs of apartments, but the new law is spectec more restrictive, only detached houses and in a determinate zones.
But nowadays all is a supposition, we must to wait for the new law.
"[sic]
I received the above from a local estate agent I've been dealing with. So its seems you can only make money if you already have lots of it. How is that helping the locals?
Vinyldreams
Active Member
So picture this , you buy a 2 bed in a local area , not a tourist strip
You rent for 12 weeks, apartment is empty for 40 weeks
For 40 weeks that place is unused the local bars , shops , amenities don’t get used .
Or
A local lives there 52 weeks of the year , pays there taxes on the island spends there wages every week on the local amenities.
What’s better for the island ?
The_millsy
Active Member
Ok picture this
I'm a multi millionaire property magnet
I buy an entire block of flats and rent them out for 12 weeks a year. They stay empty the rest of year.
That was my point!