Property in Ibiza
Ibiza continues to evolve to offer many different things to different people. No longer just a bohemian or party-centric island, it has become the Balearic Island with wellness hotels and a more sophisticated strand of hedonism thanks to the arrival of smart global hotel brands like Nobu and Six Senses.
The south remains the focus of the international jetset or yachting fraternity and the more bohemian chic north and centre has moved towards sustainable living and wellbeing. Now middle-aged former ravers bring their families and are even moving there, with the expansion of schooling options helping. All in all, it’s become a much more year-round island, yet there is still a lack of direct flights in the winter.
Property prices in the Balearics have increased steeply in the last decade, and whilst many wealthy buyers spend €2m on a villa or a finca, there are still affordable apartments and houses for sale away from the price hot spots around Ibiza Town and Talamanca, and the fashionable west coast, including Es Cubells.
Where to Buy Property in Ibiza
South West Ibiza
The most expensive part of the island is in and around Ibiza Town and Talamanca in the southwest. Why? It’s about Ibiza Town being the focus of the island’s high-end party joint like with beach clubs like the Blue Marlin, and clubs like Lio and Pacha.
But there’s also the ancient Dalt Villa, upper old town, with its whitewashed alleyways, cathedral, tapas bars and markets. It helps that the south is also home to some of the best beaches are in the south – and also lovely views of Formentera, the sister island that is a popular place to visit for lunch.
The gleaming superyachts park up at Botafoch and Marina Ibiza, whist the airport is in this corner of the island too. Two of the most expensive areas, according to a recent survey, are Talamanca Bay and also Jesus, just north of it.
You’ll need around €500,000 for an apartment in Ibiza Town, although the high-end ones with views of the marina are nearer €2m. For a modern townhouse or villa, you are really looking at around €2.7m plus around this area, or Talamanca. Nearby Playa D’en Bossa area is also popular – but this demand means around €900,000 for a large seafront apartment or €2.6m for a four-bed villa.
Santa Eulalia des Rui on the south coast is very popular with families – it is a beautiful town with a laid-back vibe and also an easy transfer from the airport. It has art galleries, quality restaurants but not the nightclub scene of Ibiza Town.
West is best?
Around the west coast you can take advantage of amazing sunsets, proximity to the airport and some of the most stunning front-line villas on this rockier and less developed coastline than the Ibiza Town areas.
Cala Jondal is home to the Blue Marlin beach club (and Casa Jondal restaurant) whilst Cala Moli is a little rocky bay set in pine-covered hills far away from the crowds of the south coast. A long strip of white sand sheltered by hills, Cala Tarida is also popular and more family oriented than some other beaches.
Owners of such homes are much more international than in Mallorca, and generally a little younger, with many bohemian or slightly hedonistic families who have been holidaying on the isle for years. Plus in Cala Tarida you may find apartments for under €400,000, although three-bedroom villas are typically around €800,000-plus.
Bidding wars have not been unknown on some of the best sited new homes as demand will often exceed supply on frontline homes. Hot spots are Sa Caleta, the inland village of Sant Jose and Es Cubells. Expect to pay from €2.5m for a villa in Ese Cubells.
North Ibiza
The infamous resort of San Antonio in the north-west is also working hard to throw off its Ibiza Uncovered image and apartments will frequently rent well in this popular hub.
You can buy a simple one-bed apartment with views of the bay with change from €200,000, or a two-bedder for around €250,000, although a choice of three-bedroom options requires around €400,000. TV househunter Jenny found an apartment there in 2022, but prices have increased since then.
The undeveloped north-east offers a wonderful craggy pine-fringed coastline and rural Ibiza at its best. It is home to a whole culture of well-being and healing that now takes the form of yoga or wellness retreats and is often seen as the “authentic Ibiza”.
The pretty, white-washed village of San Juan is a gateway to the far north of Ibiza with its unspoilt beaches, off the beaten track villages and wineries.
Portinatx is a beautiful resort surrounded by turquoise waters and pine-covered hills but due to its location on the island’s northeast tip, away from the crowds - and the arrival of the five-star Six Senses resort - prices are high.
Inland Ibiza
Go inland on this pine covered isle that offers only a fraction of the infrastructure of nearby Mallorca and your money will go further. There are not that many rural fincas left to renovate – and you will pay close to €2 million for a four/five bedroom one that has been nicely refurbished.
For those seeking to be near an international school, Santa Gertrudis in the centre of the island is popular (Morna International College is located there).
It’s so popular as it’s only 10 minutes away from Ibiza Town and the beaches of the west coast, and has become known as the Notting Hill of Ibiza, thanks to its growing international community. There are now many good restaurants and bars in the central square of the town.
The downside is that you’ll struggle to find much for less than €1m. Even two-bedroom penthouse apartments cost €800,000 (if you are lucky to find one), although you can find detached houses for €1.1m upwards, though typically €2m-€2.5m.
Buyers Need to Know
Buyers should beware of illegal relocations and extensions – always use a lawyer to check this. Also there a restrictions on holiday rental licences – another legal check.
The buying process is the same process as mainland Spain but purchase taxes (Impuesto de Transmisión Patrimonial or ITP) on second-hand properties are specific to the Balearics:
- Amount payable on purchase price up to €400,000 – 8%
- Amount payable from €400,001 to 600,000 – 9%
- Amount payable from €600,001 upward – 10%
