A guide to buying property in Ibiza

For many, buying a property in Ibiza is the realisation of a dream. It is also a transaction with its own legal and tax particularities. This guide sets out the essential steps to do it safely.

1. The NIE: your first step

Every foreign buyer needs an NIE (foreigner's identification number) to complete a purchase, open a bank account and pay taxes. You can apply for it in Spain or at a Spanish consulate abroad. Start early — everything else depends on it.

2. Define your real budget

On top of the purchase price come transaction costs, which in Ibiza are around 10–12 %: Transfer Tax (ITP) on a resale, plus notary, land registry and legal fees. For a new-build, VAT and stamp duty apply instead of ITP.

3. The importance of due diligence

Before signing, an independent lawyer should verify the property's registry, planning and licensing status. In Ibiza it is especially important to confirm the legality of the buildings and, where relevant, the tourist licence. Good due diligence prevents the most expensive problems.

4. Deposit and deed

The norm is to sign a deposit contract with a down payment — around 10 % — that reserves the property. The purchase is then completed before a notary, with the balance paid and the keys handed over. Registration at the Land Registry closes the process.

The value of good advice

A well-guided purchase is a calm purchase. At Casanovas we guide you through every step — including access to properties that never reach the open market — with the discretion and judgement a decision of this importance deserves.

Thinking of buying in Ibiza? Let's talk.