Tips for buying a real estate investment in Ibiza
Do you want to invest in the real estate market of Ibiza? Then there are a few things to consider first: Location is the key. Before investing, you should always look through the eyes of potential customers. Who do you want to attract: family, couple or a group of friends?
Families going on holiday to Ibiza are usually looking for a more relaxed holiday than a group of friends. They are less interested in the island's bustling nightlife and are more likely to appreciate the quiet village or countryside. Investing in property in Santa Gertrudis, Santa Eularia and the charming village of Sant Josep are all good choices.
A group of friends coming to Ibiza on holiday are usually looking for fun and easy access to fashionable beaches and club areas. They may prefer villas near the party area in Ibiza town, Playa d'en Bossa, San Antonio or San Rafael (near Amnesia or Privilege) in a central location. A house suitable for a large group of friends may have 5 or 6 bedrooms, a nice pool and a large garden for parties.
The good news is that the prosperity of the property market in Ibiza has not stopped there.Traditional property investment methods have produced substantial investment returns, as they have in Ibiza.
If you are buying a house on the market in Ibiza, maybe you are a first-time buyer, want to move to the island or are looking for an investment property, there are many things to consider when buying a house in Ibiza: Do you have all the necessary documents? Do you have a real estate agent to assist you during the purchase process?
If you don't know where to start, check the following 3 golden rules when buying a property in Ibiza:
1) Background check: Make sure that the seller is indeed the owner of the property by requesting the sales contract or the so-called Nota Simple from the property register. To make sure that the property has no debts or charges, the seller is obliged to show proof of payment of utility bills and IBI (municipal tax) for the past few years. Also check that the building details in the property register (Registro de la Propiedad) correspond to those in the "Valor Catastral".
2) There is a specific purchase contract: make sure that you do not use a model contract, but insist on drawing up a private purchase agreement that includes all the specific conditions you have negotiated with the seller. Even the smallest details or things you think are not important should be included to avoid misunderstandings or confusion.
3) Time is money: It is easy to get excited about the prospect of buying a new home, especially on a beautiful island like Ibiza.You may be excited about the idea of flying over to see the house, but as time passes by, The buying process can be time consuming and time is money, so you need to make the most of it. Finding the right real estate agent can help you reduce the stress and time of the whole buying process.