Ibiza, a small island with a rich history, is located in the Mediterranean Sea and is one of Spain's Balearic Islands. It's known for its architectural heritage, medieval old town of Dalt Vila, and city walls that have been designated a World Heritage Site by UNESCO. Additionally, the island boasts a privileged geographical location in the Mediterranean, surrounded by crystal clear waters and golden sandy beaches.
Luxury Real Estate Market in Ibiza
The market for exclusive properties in Ibiza is strong and stable. The demand for luxury houses and apartments is always high, often surpassing supply. Ibiza enjoys a stable political and economic situation, adding to its appeal for international investors.
Commissions and Additional Costs in Real Estate
The average commission that buyers and sellers pay to real estate agents in Ibiza is usually 5%. In addition, it should be noted that there are other costs such as property transfer tax, which is 10% in Ibiza, notary fees, and possible building inspection or legal costs.
Property Taxes
As for the wealth tax on private property, this varies depending on the specific details of each case. When selling a privately owned house, taxes must be paid on the profits earned, unless the property is used as a main residence and the profit is reinvested in another main house.
Mortgage Market in Ibiza
The mortgage requirements to purchase a house in Ibiza generally involve the buyer providing at least 20% of the property's purchase price, while the remaining 80% can be obtained through a mortgage.
Exclusive Residential Areas in Ibiza
The most beautiful and exclusive areas of Ibiza for luxury properties include Marina Botafoch in Ibiza city, the hills of Can Furnet, and the stunning coastal properties of Es Cubells.
Comfort and Accessibility
Ibiza is only a 45-minute flight from Barcelona, with Ibiza Airport being the nearest for domestic and international flights. The public infrastructure in Ibiza is top-notch, with well-maintained roads and easy access to services.
Lifestyle in Ibiza
Ibiza is known for its vibrant nightlife, exclusive hotels, and high-quality restaurants. The island offers an active and fascinating life with watersports, hiking, yachting, and luxury shopping. Ibiza's natural surroundings are simply stunning, with beautiful beaches and a mild climate throughout the year. Furthermore, it features high-quality educational institutions, medical facilities, and a wide range of cultural and sports events.
Ibiza truly has something for everyone, from history and culture to natural beauty and luxury glamour. Buying a luxury home in Ibiza is not just an investment, it's acquiring an unparalleled lifestyle.
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