Everything you need to know about getting a mortgage in Ibiza

How easy is it to get a Spanish mortgage to buy a property in Ibiza?

Ibiza’s real estate differs slightly compared to the rest of the Spanish property market. Partly due to the island’s level of exclusivity, but also additional factors may apply, such as the particularities of inscription within the property registry or legalities tied up within the property – which is key information when asking a bank for finance. Sometimes such legalities may make it more difficult to gain a mortgage compared to other parts of Spain. However, with the help of a good adviser or an experienced broker, such matters can be solved, and it is not an impediment to getting finance.

Spanish banks are open to lending to non-resident clients, but they would need to make proof of solvency together with the compliance aspects.

Credit policies will of course vary slightly from one bank to another, and they will inevitably make changes to their credit policies over time.

It is often necessary to get help from an external professional broker, separate from the bank to help overcome these types of issues/obstacles and to better understand which mortgage application suits which bank at what time.

Nowadays it is indispensable not to limit your search for financing to Spanish banks, since some applications can only be financed through international banks for the reasons mentioned above. Access to this kind of funding is only possible through a broker.

Can I get a mortgage in Ibiza?

The short answer is: Yes, you can. Like anywhere else, you will have to fulfil certain criteria regarding income and fluidity, and the legalities of the property you wish to take the mortgage out over also play an important part. However, there are generally few obstacles to asking for a mortgage in Ibiza. Below are some more details in different scenarios:

Can a non-resident get a mortgage in Ibiza?

It is more than possible for a non-resident to get a mortgage in Ibiza. However, generally speaking, the mortgage process is a lot more complex than it used to be since the new Spanish mortgage laws were put in place in June 2019.

If I’m self-employed can I get a mortgage in Ibiza?

Spanish banks will always consider self-employed clients. However, proof of income (solvency) is fundamental to the risk assessment and approval. A non-resident client would need to be prepared to send proof of their financial history and employment information. These can be submitted through company balance sheets and an explanatory letter from their tax advisor or chartered accountant for the bank to understand an individual’s income situation and yearly net income over the last 3 years.

Is it possible to get a non-status mortgage in Ibiza?

No, non-status mortgages do not exist in Spain. Spanish banks must prove the income of every mortgage applicant to assure the repayment of the mortgage is guaranteed. Due to the new Spanish mortgage law, everyone must adhere to these strict calculation rules. The guarantee (in this case the property) is additionally necessary, but not the only decisive factor. As you can´t get a non-status mortgage in Spain, an inquiry with international banks would be advisable.

Is it possible to get an Equity Release with Spanish banks?

No, in Spain, equity release is not accepted for taking liquidity from the property. This is usually possible when applying at an international bank and a heavily used funding opportunity by corporate customers who want to use this liquidity for other purposes. However, a mortgage over an existing property, free of charge (not for purchase reasons) is possible to get from Spanish banks for some specific purposes such as renovation or purchase of further land or another property, etc.

Will my age affect my getting a mortgage in Ibiza?

Spanish banks generally lend up to 25 (exceptionally 30) years with final payments finishing by age 70. For older clients (over 60 years) options and solutions can be discussed with your bank or mortgage broker.

Will staff at banks speak my language when applying for a mortgage in Ibiza?

Generally, the staff at banks in Ibiza do speak various languages, however, the level of fluency might vary and this might be one of the reasons you feel more comfortable dealing with a mortgage broker who speaks your language fluently and who can represent you and negotiate on your behalf.

Can foreigners get a mortgage in Ibiza?

Yes, they can get a mortgage from either a Spanish bank or from an international bank.

How much deposit do I need for a mortgage in Ibiza?

Most Spanish banks offer 60% LTV (Loan to Value) to non-resident buyers, meaning the client would need a 40% deposit + about 10% expenses. Some non-resident clients could also be offered up to 70% depending on the bank. (This would be one of the most important factors to take into consideration when applying for finance with a bank.) Private banking clients have access to mortgages from international banks up to 100% LTV while making investments. This specific financing can be very interesting from a tax point of view and can only be arranged through an official broker.

What is the maximum amount I can borrow to buy a property in Ibiza?

There is no maximum amount, it’s within the limits of the LTV and the income limitation.

How do I apply for a mortgage in Ibiza?

The easiest way is by contacting the lending bank(s) and/or mortgage broker for advice and help with the mortgage application (with up to 1-3 banks).

Which documents do I need to apply for a mortgage?

It depends on your purchase proposal (existing property, property under construction, etc.) and on your personal income situation.

Some basics would include a NIE (Número de Identificación Extranjero), passport, proof of income, credit report from the corresponding Credit Bureau, bank statements, proof of own funds, etc. Banks and brokers will provide you, from the first contact, with a full list of documents according to your situation.

Things I need to consider before applying for a mortgage in Ibiza:

How much can I borrow for a mortgage in Ibiza based on my income?

Spanish banks consider your yearly net income as the basis of their calculation; especially if you are self-employed.

Any credit and loan commitments should only account for 30-35% of your yearly net income. This percentage will also consider the percentage of any monthly credit commitments you have outstanding in your home country and will influence your credit facility in Spain.

How long does it take to get a Spanish mortgage to buy a property in Ibiza?

Since the application of the new mortgage law in Spain (June 2019), Spanish banks can be quite slow. Here, the work of a mortgage broker is to assist in making these processes faster, easier, and a lot smoother.

Principally, it depends on how extensive the work is for the bank to complete checks and calculate their client’s income. The more proactive clients are submitting and completing their documents the quicker the process becomes.
Once all documents have been submitted to the bank and, if necessary, any further requested documentation has been received, the fastest scenario is approximately 5-6 weeks.

The process deadline can certainly be extended considerably if there are discrepancies with the valuation report or if the financing must be carried out by an international bank. It is advisable to ask the property seller for a reasonable period in order to get the mortgage arranged without pressure.

In which currency can I repay my mortgage in Ibiza?

Since the new mortgage law, some banks offer mortgages in the client’s national currency and euros or one or the other. Certain banks have strict policies about currency options depending on your nationality and the currency in which you receive your income. It is advisable to ask for advice depending on your personal circumstances.

What is the cost of getting a Spanish mortgage?

The costs of getting a Spanish mortgage include things like insurance, opening fees, property valuation report, and potentially a broker’s fee. Read on for more details on each of these subjects.

What insurance do I need when I start a mortgage in Ibiza?

The banks require at least home insurance to ensure the mortgage guarantee (the property). Most banks also require life insurance in order to offer the client a better interest rate. Please ask for comparisons of different bank offers.

What other optional insurances are there?

You can opt for life insurance as an alternative option. Some banks offer health insurance or even alarm systems for your holiday home in order to be able to offer you combined sales products, better interest rates, and conditions.

Are there any extra costs of applying for a mortgage?

It is always required to have a property valuation report of the property you wish to purchase, as it contains a legal report of the property. Usually, this must be paid by the client.

One bank, in particular, will actually offer to pay the valuation report on the condition the client signs the mortgage loan with them, however; it is advised that clients should always compare a few different mortgages on offer.

Most banks charge an opening fee of about 1% over the mortgage amount. Some partner banks offer mortgages free of an opening fee, but clients should compare the overall cost consisting of the total interest rate, total term, LTV offered, and benefits of the combined sales products.

A mortgage broker will also charge a commission. (Balearic Mortgage Services is one of the fairest providers with a 0,5% commission since most other providers charge the customer 1% after completing the mortgage).

How do I get a mortgage from my home country to buy a property in Ibiza?

You can apply in your home country for a mortgage, but there are a lot of advantages of mortgaging in Spain, where your property is located. It could mean tax advantages, more liquidity, and have little effect on your credit facilities in your home country.

In very special cases and depending on your nationality, we could possibly utilize a mortgage from a client’s home country and take the Spanish property as a guarantee. It is a matter of individual case study.

Can I get a UK mortgage for Spanish property?

Generally, this is not advisable and, in most cases, not possible. In exceptional circumstances, gaining a UK mortgage is an option, but in very rare cases. Usually, a client would need to use a guarantee over their UK assets.

Can I get a Spanish mortgage with bad credit?

It depends on the type of "bad credit" (incidence). In most cases, this would not be an obstacle. Each case is individual and would need to be assessed. Such issues need to be clarified in the early stages or during the initial contact with your bank or mortgage broker.

Why should I get a Spanish mortgage even if I can get one back home?

It could have tax advantages, mean more liquidity, possibly better interest rates or conditions, and at the same time it doesn’t affect your credit facilities in your home country.

What types of Spanish mortgages are there?

Fixed-rate, variable rate, mixed rate, individual or joint mortgage, construction mortgage, holiday home mortgage, primary residence mortgage, investment mortgage, commercial mortgage, and many more. Read on for more detail about some of them.

Can I get a fixed-rate mortgage?

Since the implementation of the new mortgage law, a fixed interest rate is no longer available to all non-resident clients. It does however depend on the nationality, place of residence, currency of the income etc. The bank or a mortgage advisor can advise clients on all these questions.

What is a "Euribor- tied" mortgage?

This means a type of mortgage in which the interest rate is not fixed. Instead, interest payments will be adjusted yearly at a level above a specific reference rate (such as EURIBOR + 1,25) over the whole life of the mortgage.

Can I get a joint mortgage in Ibiza?

Yes, absolutely, and there are a lot of different mortgages available such as fixed rate, variable rate, mixed rate, individual or joint mortgage, construction mortgage, holiday home mortgage, primary residence mortgage, investment mortgage, commercial mortgage, etc.

Where can I find a mortgage calculator for Ibiza?

To help simulate and calculate a mortgage you can find a mortgage calculator at the bottom of this homepage: https://balearic.mortgage

What are the Spanish mortgage rates for 2023?

The mortgage rates a bank offers to a specific client depend on the financial potential of the customer and solvency. The higher the potential of a client, the better the rate.

The best rate I have signed recently was with a very specific, non-resident client with a variable EUR + 1,1%; with other clients, I have signed EUR + 1,25% which is still a very good interest rate and in fixed interest rates, depending on the local term, there are still available in some special banks at 2,75% (Status of information: May 2023). In today’s interest rate market, this information can change very quickly.

The fixed-rate offer depends on the total term, the longer the term, the higher the interest rate. Only with the help of a mortgage broker can the banks offer their best interest rates, as we often have a special agreement with our partner banks.

Should I use a mortgage broker when applying for a mortgage in Ibiza?

There are many benefits to using a mortgage broker when applying for a mortgage in Ibiza, some of which are detailed below. Also, the whole process of finance is supervised by a professional who can help with other items such as the valuation, etc. However, it is by no means necessary. Those who have time and patience can apply for a mortgage by going straight to a local bank of their choosing.

Will I save money with a mortgage broker?

The commission of 0,5% is worth having a mortgage broker as you can save a lot of money by getting the best available mortgage on offer for you at the moment of your application.

A broker will take your specific situation and requirements into account and will choose the bank best suited for your application. A better interest rate may save thousands of euros over the total term of the mortgage.

Is using a mortgage broker faster?

Definitely! A mortgage broker will help you to get the mortgage approval as quickly as possible. From the first contact, a mortgage broker will list all the (initial) required documents and follow up with the bank regularly to monitor the process. This is incredibly important as Spanish banks are often overloaded with work and normally do not actively return to clients with updates and outcomes of the application. Clients are often used to banks being more interactive in their home country, but the experience can be very different in Spain.

What other benefits are there when using a mortgage broker in Ibiza?

A broker will help you understand all the documents that need to be submitted and will explain the different processes and legalities of the mortgage in your own language.

Mortgage brokers will also assist with the formal procedure with the bank, notary, lawyers, and real estate agents where necessary, e.g. for the property valuation report.

All conditions and terms will be negotiated on a client’s behalf with a professional mortgage broker. They will save you from any unwanted surprises along the way and help you over the entire mortgage process and even accompany you to the notary appointment.

A broker’s relationship with different banks guarantees very special terms and treatments that might not be possible if you approached the bank as someone "unknown" to them.

What effect does the new mortgage law have on the course of a mortgage?

The primary reason behind the new legislation based on the Mortgage Credit – Directive 2014/17/EU is increased consumer protection. This is to be achieved through a greater level of information for the future borrower by providing FEIN and FIAE. These standardized documents are designed to give the best possible overview of the terms and conditions.

The new law makes the bank pay all the mortgage-related costs except the property valuation report. It makes the early repayment cheaper and limits the selling of the attached products ("vinculaciones"). But the entry into force of the new law not only brought benefits for the customer this year.

The notary of Formentera Javier González Granado explained in the "Diario de Ibiza" recently:

The new legislation introduced "a system of telematic processing whose adaptation cost quite a few entities." In addition, it establishes a processing of the mortgage loan "more complex than before, although it gives more security to the consumer." Before, the law established as a voluntary the previous visit of the consumer to the notary before the signing of the mortgage: «Now it is mandatory. And also very strict deadlines are marked that cannot be skipped in any way. That, without a doubt, has meant a paralysis of the procedures until it has entered into force, from spring to early summer, times when they were absolutely stagnant".

To read the full article go here "Cae un 39% el importe de las hipotecas constituidas en las Pitiusas este año"

Thank you to Bettina Lorenz, CEO & Founder of BMS (Balearic Mortgage Services), for taking the time to speak with us. For more information on how to successfully apply for a mortgage in Ibiza, visit Bettina’s website.

Check out the 18 Great Reasons to buy with Prestige Properties

A Prestige Buyer’s Journey: Meet Melissa

In the Spring of 2014 Melissa Spero and her husband walked out of the notary with the keys to their dream home in their hands. At last, after 12 months of searching, visiting, deliberating, etc. they were ready to finally realise their dream of a second home in Ibiza. After the purchase they embarked on the journey of transforming the property into a place that corresponded even more with their vision and after 12 months of a full renovation they were finally able to spend their first summer in their new home Los Olivos. Read here the unique journey of Melissa and her husband…

Prestige Properties: Tell us a little bit about your first experiences in Ibiza…

Melissa Spero: I first came to Ibiza in my 20s and was immediately struck by its energy, light and stunning natural beauty. From that moment on, I knew I wanted to live here at some point in my life. It took another twenty years of solid graft to get here but I made it in the end!

What made you want to buy a property in Ibiza?

I wanted a sanctuary from the hard life of working in London, but I also wanted to have a place where I was surrounded by open minded people from all walks of life. Ibiza is unique in that sense – to be able to live in such beautiful natural surroundings with such a diverse and ever-changing community of people is what makes it so special. Also, the dramatic difference to life on the island in different seasons means that it is like living in four different places every year so that ensures things stay interesting. It is also super easy to hop on a flight back to the UK whenever you need to.

What kind of property were you looking for and why?

We started off by wanting a property in the campo where we had a view of the sea and sunsets. Mid-way through the search we got seduced by some lovely houses which had neither of those things and thank god the house we eventually bought had both.

What points were you willing to compromise on and where did you draw the line?

I thought I had been willing to compromise on a sea view, but eventually I realised I wasn’t: what’s the point of living on an island if you can’t see the sea? I’m also so glad that the house is located centrally – great for beaches but also really convenient for Ibiza town (which I love), schools and the airport.

Tell us a bit about your general experience of searching for a home in Ibiza?

Hard work – along with Prestige I spent hours scouring the internet for suitable places. I got totally carried away at one point and got way out of my budget. Luckily the place that Prestige found for us ticked every box.

What were the biggest challenges you faced during the searching process, and was Prestige able to help you overcome some of these?

We wanted to cast our net really wide and Prestige told me that in addition to their own properties they work with other agents on the island so if I saw something, Prestige would organise it all for me and make it as pain-free as possible with the other agency. When you don’t have the luxury of time, this approach is fantastic.

Once you found your ideal property, how smooth (or turbulent) was the process until finally signing at notary and making it your own.

Prestige made the process super easy and efficient – they talked us through the necessary steps we had to take and it was went extremely smoothly.

If you have experience buying property in other countries, is there something that makes the process in Ibiza stand out in a particular way?

You have to forget your experience of buying a house in your home country – lots of old properties here don’t have the correct papers but that is the norm here so keep your nerve. As long as you have a good lawyer and are working with a good agency you will be fine!

What would your main advice to other home buyers, about to embark on a similar journey, be?

I’d say, explore every inch of the island. Because it’s in mode at the moment, people automatically look for properties in the north of the island, but the areas like Buscastell and Benimussa, near San Rafael where our house is located have everything – breathtakingly beautiful countryside, the best sunsets and beaches, as well as being close to amazing Ibiza town and Dalt Vila – where life remains during the winter months.

Overall, what difference do you think working with Prestige made in your journey of finding and buying your dream property in Ibiza?

Without Victor at Prestige, we wouldn’t have brought our dream house and I would probably still be taking the tube to work every day in London – so I’d say the difference was life changing!

THE APIBIZA PROPOSES A REGULATION OF THE REAL ESTATE SECTOR IN THE BALEARICS

In recent real estate industry news, the Association of Real Estate Professionals of Ibiza (APIBIZA), a member of the PIMEEF, presented several proposals for the regulation of the real estate sector in the islands before the Conselleria d’Habitatge i Mobilitat, that is, regulating the requirements to carry out the activity of real estate agent in the Balearic Islands.

One of the proposals was to establish a sanctioning regime with fines of not less than € 20,000 for those agencies and / or persons without the adequate qualification.

They also argued that demonstrable malpractice should result in immediate expulsion from the registry.

In addition, it has requested to be able to report through simple tools and that real estate agents should be required to have at least university studies related to the sector or training in accredited centers or at least 5 years of proven experience in the sector.

On the other hand, it has requested that the sale and purchase transactions, the registration of real estate agents and the obligation to publish on their websites the real estate agent registration number have to be notarized beforehand.

The Association of Real Estate Professionals of Ibiza has shown its satisfaction for this proposal to regulate the real estate sector of the islands in defense of this highly invaded sector and to protect consumer rights.

Read more on this in an article recently published in the Diario de Ibiza.

Find out more about the APIBIZA click here.

Gay tourism in Ibiza: a growing trend of colour and freedom

The rise of gay tourism in Ibiza is thanks to the tolerant environment on the island. The members of the hippie culture who made their home there in the 60s began the "live and let live" attitude. Later, in the 80s, the LGBT community was incorporated into the cultural environment of the island.

Photo by El Confidencial

LGBT attractions in Ibiza

The growing supply of tourist attractions covers all kinds of services oriented to the gay community. Therefore, the scene establishments are not confined to certain areas, as in many cities: the whole island is gay friendly.

Beaches

Some very beautiful sandy areas are gay tourism favourites. Es Cavallet, a nudist beach, is also known throughout the Mediterranean for its gay scene, with signs of tolerance that can be seen even in establishments such it’s famous Chiringay.

Photo by Chiringay.com

The part of Ses Salines known as Sa Trinxa has the most transparent water and is also a gay-friendly and nudist area.

Bars

Another great LGBT attraction is the bars, which are usually painted with the colours of the gay pride flag. They are located mainly in Calle Alfonso and Calle de la Virgen, in Ibiza city. Unbridled hedonism is the norm in these areas of extreme freedom and tolerance. Mad Bar, Dado, Bar 22 and Mona Lisa are some of them.

Clubs

In these places there are legendary meetings of beautiful people, full of creativity and debauchery with impressive shows. Great artists, dancers, Drag Queens and lots of skin are some of the attractions of the theme parties held in these places.

The only gay club on the island is Lola’s. There are also polysexual clubs like the famous ones Anfora, Babylon, Amnesia and Privilege. The latter has hosted SuperMartXé, an incredible show with dazzling special effects, choreography and crazy fashion shows.

Photo by Spotlight

Hotels

The Purple is an exclusively gay hotel which has a fantastic bar with the same name. It is located in San Antonio and focused exclusively on this segment of the market. With its bold but elegant colouring, and designed to offer a sensation of space, it also has an excellent restaurant service with a select sample of Ibizan cuisine.

There are many other gay-friendly establishments like Cenit, Boutique Hostal Salinas and Marigna.

Ibiza Gay Pride

This "full colour" event takes place in different spaces where theatrical performances, cultural events, conferences, book presentations and musical performances are held, involving well-known personalities. In 2019 it will take place between 12 and 15 June. On the closing night of the event there are theme parties in the most famous gay clubs.

Photo by Welcometoibiza.es

The development of gay tourism in Ibiza makes this island a successful place to offer the growing gay market an alternative accommodation option. Contact us for more information.

Ibiza, June 2019

Rural tourism and agrotourism in Ibiza

Agrotourism in Ibiza is an example of how touristic activities continuously introduce innovations to extend traditional ‘sun and beach’ tourism.

Agrotourism and rural tourism in Ibiza

Agrotourism refers to leisure and recreation activities that take place in ecological production centres dedicated to agricultural and livestock pursuits. This service is managed by the local workers themselves.

Rural tourism develops in small and isolated communities. The accommodation usually consists of old houses adapted to receive visitors, and they are attended to by families.

Both activities are framed within the principles of sustainable tourism of the World Tourism Organization. They include respect for nature, support for communities, sustainable use of resources and the use of biodegradable products.

Rural tourism areas in Ibiza

With the help of real estate in Ibiza, you can find accommodation for rural tourism there. Near the heights of Els Amunts and Pla de Corona, the almond trees bloom during the spring, which is a spectacle that’s worthy of being photographed.

Photo by Prestige Properties

In the most secluded area of the island, the northeast, lie Sant Joan de Labritja and Santa Eulària des Riu. It is also an ideal region for hiking or cycling.

Sant Rafel de Sa Creu is full of artisan ceramic workshops that produce unique pieces inspired by ancient Carthage.

San Juan, to the north, is the municipality that has benefited most from rural tourism. On Sundays, the people there bring the usually tranquil place to life with their artisan market.

The Mercada de Forada, open during Saturdays on Sant Rafel-Santa Agnes road, sells locally sourced agricultural products. You will find nuts, preserves, honey, oil, wine and even perfumes and natural cosmetics.

Countryside activities in Ibiza

In Ibiza you can find farms, plantations and vegetable gardens that all follow the agrotourism trend. Some of them grow fruits like watermelons, melons and peaches. The vegetable gardens produce tomatoes, courgettes, aubergines, cucumbers, lettuce and peppers.

Some of the most famous agrotourism establishments are Talaia, Can Curreu, Atzaró, Can Arabí and Can Jaume.

The animal breeding activities are based on animals recognised as indigenous, such as the Ibizan hen, the sheep and the goat. The porc negre, a breed of pig, and the Ibizan rabbit are in the process of being approved.

Photo by Can Curreu

Ibiza’s natural side

Far from the beaches, coves and the bustle of nightlife, there is another Ibiza: that of the small towns in the island’s interior. Country houses, in addition to their unique architectural features, are dotted around the fields and are sometimes grouped into small communities. This quiet and rustic region maintains its ancestral way of life.

Agrotourism in Ibiza is an alternative that gives you new experiences, very different from the ones you already know. Get going and try them!

Photo by Prestige Properties

Ibiza, May 2019

Celebrity villas in Ibiza

Celebrities in Ibiza are already legends. Millionaires, actors, footballers and aristocrats have chosen Ibiza as the ideal place. Many come to visit Ibiza frequently, live here permanently or spend a season here every year to relax as couples or families.

The great offers and high quality of the real estate market in Ibiza allows luxury homes to be obtained at (comparatively) affordable prices.

Celebrity villas in Ibiza

The luxury celebrity homes, with their comfort, their many rooms, their swimming pools and large gardens are wonderful. In them the artists, millionaires and footballers seek privacy and all the comforts imaginable.

Each celebrity looks for different styles according to his or her tastes. Antonio Banderas and Juio Iglesias prefer more complex architecture. Guti or Fernando Hierro prefer mansions designed with cutting-edge trends in mind. Kate Moss and Jade Jagger, on the other hand, prefer the traditional Finca style home in the bohemian North of the island.

Other football players who have made the island their sanctuary are Zidane, Gerard Piqué, Carles Puyol, David Villa and Pepe Reina.

Other celebrities with properties in Ibiza include Pepe Martínez, Eugenia Martínez de Irujo, the Goyanes-Lapique family and Blanca and Borja Thyssen. Vladimir Doronin, the Russian millionaire ex-husband of Naomi Campbell has a mansion in San Jose.

Areas with more Ibiza mansions

Many of those seeking luxury homes in Ibiza are interested in constructions with local and traditional architectural features that are unique to the island. These houses are rare and distinctive, and they are often located in the countryside.

These homes are mostly in the north of Ibiza, such as Santa Eulalia and San Miguel, where there are a large number of mansions, as well as San Juan.

The south and southeast areas of the island also offer luxury homes. There are two main styles of Ibiza mansions in the north of the island: avant-garde villas or traditional buildings.

Where to buy a house in Ibiza and at what price

The purchase of houses on the island is booming and that has determined some of the prices as we’ll explain below.

A detached house facing the sea in Santa Eulalia can have a value of up to 12,000 euros per square meter. On the seafront, the price of a two-bedroom apartment fluctuates around 7,000 euros p/m2.

There are luxury homes for 10 million euros or more, but the vast majority of them are around 2 or 3 million.

The redevelopment of the old town has given a new rising value to luxury villas and the proximity of VIP beach clubs has raised the average cost of a luxury home around Ibiza Town to more than 3.5 million euros.

Celebrities in Ibiza add another touch of glamour to island life, enjoying their Ibiza villas with style. However, Ibiza is not just for the rich and famous; anyone with a dream can come here and try their luck. We would be more than happy to help you in fulfilling your dream of a new home in Ibiza.

Ibiza, April 2019

Ibiza’s Gourmet Cuisine

Ibiza’s gourmet cuisine is one of the reasons why those who know how to live well visit the island. From the most sophisticated and original avant-garde to intimate and romantic restaurants, Ibiza offers the most refined possibilities.

Gourmet Gastronomy in Ibiza

In this article, we’ll tell you about a number of restaurants on the island that are included in the Michelin guide, and why they deserve this distinction.

Ca n’Alfredo

A traditional family establishment that has been offering traditional yet refined Mediterranean and Ibizan dishes since 1934. Its creations are presented perfectly paired with local wines. One of its most famous dishes is its fish stew.

Re.Art

This tapas tavern is run by the Catalan chef David Reartes, whose mission is to make the island’s products more well-known and appreciated. He’s committed to the "Ibiza’s Flavour" brand, promoted by the Consell d’Eivissa.

From the irreverent and lively atmosphere of his open kitchen, he serves traditional tapas and unique creations such as Café de París smoked pork loin.

The Gaia

This establishment features japeruvian cuisine or a blend of Japanese and Peruvian cooking, and is headed by the chef Henrique Sá Pessoa.

With absolute respect for local Mediterranean produce, he has incorporated its virtues into this trend to offer patrons creations such as lobster anticucho with mojo, coriander and lime or nikkei chocolates.

Mar a Vila

Located in the center of Eivissa (Ibiza Town), this is the place where Pablo del Castillo prepares a cuisine that is varied but focused on Ibizan and Spanish gourmet gastronomy. Among its specialties are ravioli foie and tuna glazed with soy.

They also offer signature tapas and pinchos prepared with creativity that reflects the team’s youthful approach. Tuck into some violet potatoes with mustard and toasted garlic, or black pudding and apple rolls with almond sauce.

It

With a highly creative Mediterranean style and headed by chef Massimo Larosa, it is located in Marina Botafoch.

Here they work with a blend of local products and Italian specialities such as pizzas, pasta, and starters, in creations with superb results.

In addition to an international wine list, you’ll be delighted with dishes such as beef sirloin with hazelnut, crunchy cod cannolis or cuttlefish with black olives and cauliflower.

El Cigarral

Run by the Ortiz family, this restaurant specialising in homemade Spanish cuisine with a touch of versatility offers a variety of options. Locally caught fish, game from Toledo, and Asturian livestock shine in their creations.

These include asparagus stuffed with seafood au gratin with alioli, red partridge a la Toledo-like mother-made, and Asturian T-bone steak.

You have to eat in Ibiza, and this is the moment to do so. If you’d like to experience the delights of gastronomic tourism in Ibiza and sample Ibiza’s gourmet cuisine, be sure to plan a visit soon.

Ibiza, January 2019

Ibiza with kids: a place to have a great time

A holiday on the Balearic island is always a good idea, but living in Ibiza with children
is an even better one.

For those who don’t know the island, it may seem an excellent place for a vacation aboard a luxurious yacht or in a magnificent villa, however it’s also a perfect place to live with children.

In addition to numerous homes to rent or buy for a stable life on Ibiza, the world renowned Mediterranean island offers numerous services for the youngest members of the family.

Living in Ibiza with children, and everything the island has to offer

When someone decides to settle in another city, the first thing they do is look for a place to live, either by renting or buying a property. Once this question is solved, the next step is to look for a school, should the new life be with children.

In fact, it’s no less true that the search for housing is conditioned by the closeness to the school to be chosen, or vice versa. In this sense, as well as state schools, Ibiza offers interesting private options for educating children:

– Morna International College in Santa Gertrudis. An interesting option, both if the children are Spanish, English or German-speaking.

– College Francais. Situated between Ibiza and San José, this school has small-sized classes for French-speaking children who don’t speak any Spanish; a top level education to meet the expectations of the most demanding parents and also for children who require official qualifications in French.

– Colegio Mestral. Located in the centre of the city, this private school offers classes in Catalan and Spanish as well as in English; another option available for those planning to move to Ibiza.

Living in Ibiza requires education, but also leisure

In addition to a unique natural environment and educational options, life on the island offers incredible leisure pursuits for children.
Aguamar Park

Proof of this are the companies devoted to organizing parties for children, the possibility of outdoor activities such as horseback riding, the Aguamar Water Park or the adventure-filled Acrobosc Park.

A few examples of what life can be like for the little ones on the island known throughout the world for its climate and its beaches: two more aspects that should also be made the most of.

Acrobosc

It has been shown that living in a privileged environment aids children in their learning and also helps them live a healthy life. Living in Ibiza with children is an excellent idea in every sense.

Dreaming of a Different Christmas? Have a Magical Time in Ibiza

Christmas in Ibiza can be a source of surprises for those for whom the island evokes throngs, boisterous parties and crowded beaches. On the other hand, you should know that peace and magic are the most characteristic features of the island at that time.

Christmas in Ibiza with the family

This Balearic island, its beaches and its architecture is at its best in the winter, when silence deepens any experience you may have. There will be tranquility to meditate on some cultural milestones, such as ruins of its ancient civilizations.

To spend the winter on Ibiza is to be able to discover and explore without being disturbed, to walk through the streets listening only to your steps. It is to perceive Ibiza in a totally different way, ideal for spending Christmas in Ibiza with your family.

Ses Salines and Es Cavallet

Ses Salines is an extensive beach located in the national park of the same name: it has very white sand in contrast to a sea of deep blue. It is limited by a dune formation on which you can walk on wooden walkways. Also, the pine and juniper forests border the beach, forming a serene contrast with water and sand.

If you continue your walk to the left and pass through the woods, you will reach a rocky terrain and the Tower of Ses Portes, built to sight pirate ships. From there, the Es Freus strait and its islets can be appreciated.

To complete the walk, go to Es Cavallet. There, in this stretch of sand, which is also very wide, you will find remains of Posidonia oceanica, an iconic plant of the Mediterranean ecosystem. .

Island markets

Another of the charms of the island and less crowded than in summer, you will have time to visit them at your leisure. Calmly choose the Christmas gifts you are going to give.

– Las Dalias

On Saturday mornings, from 10 in the morning until 10 pm, there is the Hippy Market. You can buy musical instruments, clothes, jewellery, crafts, books, antiques and incense.

– Forada

This lively market sells seasonal agricultural products from 10 am to 4 pm, but also oils, wines, jams and preserves. It also offers natural cosmetic products and crafts.

Horseback riding

This entertainment offers the advantage of being able to have a good trip without too much fatigue and get in touch with nature.

The north of Ibiza and near San Juan you will find Horse Valley. The walks go through the natural park of Es Murta, so it is practically a virgin area. The tour lasts 4 hours, and in winter the schedule is more flexible since it has no limitations due to the heat.

Living on Ibiza and therefore being able to spend Christmas in Ibiza is possible by buying a beautiful home on the island.

Villa India – Ref. 6246 – For sale with Prestige Properties Ibiza

Ibiza, December 2018

ONE TOY, ONE SMILE – Christmas Charity Campaign

Each Christmas, Prestige Properties Ibiza takes pride in supporting a local charity and contributing to the well-being of those less fortunate in our community. In 2018, we decided to choose a campaign that was both close to our hearts and also directly linked to our workplace, through our colleague Nina Negru, the 4th Edition of ‘One Toy, One Smile’, organised by Food for Ibiza.

The "One Toy, One Smile" Campaign

Christmas is a time of hope and compassion. Children who live in poverty often experience Christmas very differently from what the seasonal retail marketing narratives would have us believe, and also often very different from their friends and peers.

Sharing and receiving a small gift, in the form of a toy has the ability to change a child’s entire perspective, value, self-worth, and simply send a small message of hope.

"One Toy, One Smile" is the perfect addition to offering food to families in need at such an incredibly special time of the year. As well as giving toys, each family also receives a €25 coupon per head to be spent on their own personal Christmas menu at their nearby supermarket. Making everyone feel loved and cared for. At Prestige Properties, we were overly happy to be part of such a wonderful project.

The event was marked by the element of surprise and overwhelming emotions, brought by a simple goodwill gesture to those who needed it most. We are very grateful to the team at Food for Ibiza for their incredible dedication, and for taking responsibility for the success of these initiatives here in Ibiza.

About ‘Food for Ibiza’

Since 2014, Food for Ibiza, a non-profit organisation, has been actively campaigning and helping to improve the quality of life for people in Ibiza, by fighting hunger and supplying some of the island’s poorest families with food and those basic necessities that we often take for granted.

The organisation solely runs on the support of volunteers and is dependent on the generosity and donations made by the local community, like other businesses, supermarkets, hotels, restaurants, and private household contributors.

The volunteers from ‘Food for Ibiza’ primarily drive to collection points across the island to pick up donated groceries, such as dried foods like rice, lentils, beans, pasta or canned meat and fish, oil, coffee, cocoa, and cookies and bring them to their warehouse where items are stored, sorted and the packages are prepared for delivery based on every family’s particular need. They are then distributed to the registered families once a month.

We are very proud to be working with one of the founding members of Food for Ibiza, our colleague Nina Negru, as part of our team of sales agents. Nina is a great professional in the real estate market who felt she needed to contribute more directly to alleviating some of the difficulties faced by those struggling to keep up in an economy progressively geared towards luxury and exclusivity.

Fundraising with ‘Food for Ibiza’

In September, Food for Ibiza held its annual fundraising event at the famous ‘Children of the 80’s’ Party at the Hard Rock Hotel: to enter the party you simply had to bring 3 kilograms of non-perishable food.

Nina Negru stated that the collection at this event proved essential in helping low-income families from the island during the winter ahead.

Poverty in Ibiza – The Facts

We live on an island that is known for its wonderful surroundings and its affluent and privileged lifestyle. It is often difficult to believe or even notice that some people experience very difficult and extreme situations of poverty and desperation. Some people have very little income, food, are homeless, or have few resources and opportunities.

From Prestige Properties Ibiza, we want to bring visibility to some of the charity initiatives that are organised by different associations of Ibiza. It is paramount we see the island as a whole and with equal opportunities for all, and where there are inequality and needs, we desire to stand together to make a difference and create long-lasting improvements for the health and well-being of our local community.

If you want to volunteer your time or get involved, check out the links below. Your support and help will be greatly appreciated by those who are struggling to care for themselves.

Food for Ibiza:

https://www.facebook.com/foodforibiza
https://www.instagram.com/food_for_ibiza

No time to spare? Donate!

Paypal: [email protected]

Or via Bank Transfer: OPENBANK

IBAN: ES67 0073 0100 5505 0541 8480

SWIFT CODE for a donation from abroad: OPENESMM

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Photo by Prestige Properties

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Ibiza’s natural side

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Ca n’Alfredo

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Living in Ibiza with children, and everything the island has to offer

Living in Ibiza requires education, but also leisure

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Christmas in Ibiza with the family

Ses Salines and Es Cavallet

Island markets

Horseback riding

Villa India – Ref. 6246 – For sale with Prestige Properties Ibiza

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The "One Toy, One Smile" Campaign

About ‘Food for Ibiza’

Fundraising with ‘Food for Ibiza’

Poverty in Ibiza – The Facts

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Do you have any questions or need more info?
Send us a message and we will get back as quickly as possible!

Do you have any questions or need more info?
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