Professional Home Evaluations in Ibiza – Everything You Need To Know Before Selling Your Property in Ibiza

It can be a testing and complex process to sell a home in Ibiza. Nonetheless, if you work with a knowledgeable agent, you can maximise your chances of a successful, hassle-free sale.

Selling a home in Ibiza takes an average of 10 months. However, there are many things you can do to speed up the process with a little strategic planning and smart thinking.

Here is a guide to help you navigate the process of home evaluations and everything you need to know about selling your property in Ibiza.

Selling Property in Ibiza and Home Evaluation

Is it time to choose a reliable agent to sell your Ibiza property?

You might wonder if you even need an estate agent to sell your Ibiza property – and the answer is: No, you don’t – but you’ll wish you did. It’s not difficult to put up a sales sign and list your property on online portals such as Fotocasa and Idealista. However, working with a professional real estate agency with the right skills, knowledge, and infrastructure will make the whole process much easier – especially when completing a reliable evaluation of your Ibiza home.

You need to find a reliable Ibiza real estate agent to understand the local market dynamics. The demand for various properties, local valuation trends, and factors currently influencing the market, like seasonal fluctuations and increased peak activity, will all be under the belt of an experienced, knowledgeable and trustworthy agent. The best realtors will also take into consideration a property’s legal situation, its location, its immediate surroundings, its age, size, plot, and condition, as well as its style, amenities, and views. In addition, they can offer advice on how to prepare your property for an optimal sale, highlight unique features for increased value, and market it effectively.

Need more convincing? Check out our article here: "15 Great Reasons to sell your property with Prestige Properties".

Getting ready to sell your home in Ibiza and preparing for an evaluation

Getting a real estate expert to assess your property’s real market value can help you set a realistic sales price, prepare your property to an optimal selling standard, and sell more quickly.

When a realtor visits your property for a valuation, he or she will conduct an inspection to identify any potential issues that may surface during the buyer’s viewing and to forecast a realistic and competitive price for your property.

An experienced real estate agent knows how important presentation is for marketing your property effectively and can offer the best advice on how to portray it. Taking these simple steps will optimise your property’s chance of a decent valuation and quick sale:

(un)Dress the home – remove all personal items, declutter and leave it as minimalistic as possible; add mirrors and plants; redecorate in neutral colours; have it as light as possible; remove any signs of pets or sources of unpleasant smells.
Do the repairs – address any minor repairs or maintenance issues. A well-maintained home is more appealing to buyers.
First impressions matter – ensure your home’s well-maintained exterior, with trimmed lawns, clean driveways, freshly painted façades and attractive landscaping.
Professional photos & videos – Market your property well: have the most impressive presentation by taking the highest quality possible photos and videos to promote your property in its most appealing light (this is often included in the service of a professional real estate agency, especially when you sign an exclusive sales mandate).

The legal requirements for selling your home in Ibiza and the documentation you need

Knowing the legal requirements and having your property’s documentation prepared will ensure that things will run smoothly and fast, with no unpleasant surprises either for the buyer or yourself.

The following is a summary of the information required from the seller in preparation for the signature of the title deed (and ideally already in preparation for placing the property for sale so that potential buyers can have quick answers to questions related to the property’s documentation).

Ideally, you will have:

The Title Deeds to the property
Cédula de Habitabilidad (Valid)
Licencia and/or Final de Obra
Receipts for the local municipal property tax (impuesto sobre bienes inmuebles or IBI)
Copies of latest utility bills
Details of the community statutes (for apartments and gated communities)
A list of any items of furniture, etc, which will be included in the sale
Your residencia card if you have residency status or NIE
An Official Energy Certificate (Certificado de Eficiencia Energetica)

All these documents will help us understand your property’s legal situation, which will both help and impact the valuation process.

For a full list of the legal requirements and documentation needed to sell your property, check out Sellers Guide: How to Sell Your Property in Ibiza

Getting a Realistic and Fair Evaluation for Your Ibiza Property

In our role as professional real estate agents in Ibiza, we will compare your property with properties that have been SOLD within the last six months with similar attributes. Market prices are always based on final sales prices. We never compare with properties that are still for sale. A slightly higher price can be tested first and adjusted if needed depending on the owner’s personal idea or timeframe. Keeping a bit of a negotiation margin in mind is also a good idea since clients often like to haggle –– but being open to what the market is willing to offer is always recommended especially if you want things to move faster and not drag on endlessly, risking also that your property will lose its value over time due to overexposure on the market.

Are you ready to sell your Ibiza property?

At Prestige Properties Ibiza, our extensive experience in the local market will help you find the right buyer in no time at all. We can confidently sell your home with great satisfaction.

Our team is always ready to help you with your seller’s journey and will ensure you get the best opportunities with us, so why not get a free valuation with us today?

The Costs of Owning a Property in Ibiza

Buying a dream home in Ibiza is one of the most exciting things you can do. However, buying and owning a property in Ibiza comes with upfront and ongoing costs that all potential and active buyers must be aware of before signing on the dotted line.

It is crucial to consider the upfront costs associated with buying a property, such as the down payment, closing costs, and fees, but mostly forgotten are the ongoing costs, such as maintenance, taxes, insurance, and utilities, that will inevitably occur. A clear understanding of the costs of purchasing a home in Ibiza will help you determine if you are happy with the annual outlay.

You can find our How to Buy a Property in Ibiza guide on our website; written with our buyers in mind and covering all those essential costs to consider when buying a property in Ibiza. But, in the meantime, let’s be clear about the ongoing costs of owning a property in Ibiza, so you know what to expect, once you call Ibiza your home.

Costs of Buying and Owning Property in Ibiza - Prestige Properties

The costs associated with Owning a Property in Ibiza

Multiple tax implications are associated with the cost of owning a property in Ibiza, Spain. To own a home in Ibiza, you must consider all tax implications -– so here’s a quick overview that will help you understand these costs.

Understanding Property Taxes in Ibiza for Homeowners

Your IBI (Property Tax)

The IBI (Impuesto sobre Bienes Inmuebles) is a real estate municipal tax on properties in Spain that must be paid each year by property owners in Ibiza – regardless of whether you’re a resident or not.

To figure the amount, the town hall assigns a value to your property known as the cadastral value. This value will be taxed at the same rate approved by each town hall within the specific municipality.

While IBI is charged as a percentage, the tax bill depends on the property’s cadastral value. This rateable value, in turn, is determined by a number of factors, which include the property’s:

Size and location
Construction costs
Title and lease details
Age and condition
Land characteristics
Proximity to public infrastructure

Using this information, the local town hall compiles a report assessing the property’s rateable value and assigning a taxable "valor catastral" to each property in their area. These records are kept by the cadastral registry (which is different from the land registry office).

When purchasing or interested in a specific property, the best advice is to ask your real estate agent for the most recent IBI bill of that property which will show the exact amount applicable for this specific property.

Your Basuras (Waste Collection Tax)

A local charge needs to be paid at the town hall where your property is located for rubbish removal. Each town hall determines the amount due, which varies from place to place. It is imperative to note that it is still necessary to pay for a property even if it is not occupied during the off-season. The town hall has the right to take legal action if payment is not made within a certain period of time.

Typically, the waste collection cost when owning a property in Ibiza is around 90 euros annually.

An Overview of Maintenance Costs when Owning a Property in Ibiza

General Maintenance Costs

All the additional services designed to maintain the property’s general condition and upkeep are included in the General Maintenance bracket. Property owners should expect annual costs of 1-2% of their property value to keep their houses healthy, fully maintained and stable.

These services may cover anything from basic repairs and house maintenance, home improvements, property management services, pest control, security checks, cleaning, gardening and pool maintenance. These include annual agreements, monthly advanced services, and one-off payments for individual services.

Although these extra costs of owning a property in Ibiza may not feel necessary, the overall investment will ensure that the property’s value moves in line with the Ibiza property market trend (up!).

Home Improvements and Renovation Costs when Owning a Home in Ibiza

Property owners who rent their property will have higher maintenance costs, as rentals often require additional services and rental support which tend to arise from more wear-and-tear than non-rental properties. This may mean a higher budget for general yearly maintenance service is needed –– as well as regular home improvements and renovations to keep your home modern and up-to-date.

The purpose of home improvements is not only to enhance the living experience but also to increase the market value of the property and its rental potential. Landscape projects, energy solutions (e.g. solar panels), better water systems, interior improvements, carpentry, ventilation and construction are all great examples of these services and projects that may be noteworthy costs of owning a property in Ibiza.

Larger Renovation Projects

In Ibiza, renovating a property can be a very rewarding experience, allowing you to create your dream home. It is also possible to reap impressive returns from a renovation project if planning and renovation are done properly – although there will be upfront and ongoing costs involved.

Check out our guide on Renovating a Property in Ibiza – Everything You Need to Know if you’re thinking of buying or renovating a house in Ibiza!

Costs of with selling a property in Ibiza

Just as there are costs associated with the buying process, there are also costs associated with selling your property. Please check out our Seller’s Guide, which will walk you through all the relevant and associated costs when selling your property in Ibiza.

If you have further questions about the costs of owning a property in Ibiza, why not chat with one of our agents? They can also assist you in finding a suitable property investment or help you list your house on the Ibiza market.

We would love to hear from you!

Our Best Luxury Properties for Sale in Ibiza in 2023

This month we’re super excited to share some of our top-fave luxury villas and homes on the real estate market. We hope that by showing you these exclusive properties, you’ll remember why Ibiza remains a hot investment and living destination.

Real estate in Ibiza has grown significantly in recent years, especially in the luxury segment. Consequently, the island is booming with interest, prices are increasing, quality supplies are dwindling, and demand is high. So, if you’re looking for that dream Ibiza pad, keep an eye on our regular blog posts with our current Ibiza properties for sale to ensure that your dream house doesn’t pass you by.

Read on to see some of our stunning homes ready for you to move into and enjoy immediately.

Can Vista Vedra

Fantastic finca with incredible Es Vedrá views

Just 350 meters from the idyllic Cala Carbo bathing bay, one of Ibiza’s most beautiful coastal areas, Can Vista Vedra sits perfectly tucked away.

This beautiful three-double bedroom finca, all with en-suite bathrooms, enjoys complete tranquillity and privacy. All on one level, the living area perfectly adjoins the dining area, which directly overlooks the sea and the property’s magnificent pool terrace. From here, you can observe unobstructed views of Es Vedra, the passing boats and unforgettable sunsets.

In the separate casita, you will also find a living room, a kitchenette, a bedroom, and a comfortable bathroom. Additionally, there is a small terrace from which you can enjoy the surrounding views.

With plenty of Mediterranean plants and colourful flowers, the garden offers plenty of places to relax and eat outside. The perfect place to enjoy a gentle breeze on a hot summer day.

Can Vista Vedra is a unique setting within easy walking distance of the beach. This property also has a coveted ‘tourist rental licence’, which makes it a perfect investment.

Apartamento de la luz

A top-notch luxury apartment with amazing views of the old town

Located in the heart of the marina, just 350m from Talamanca Beach, Apartamento De La Luz has impressive views and is a sun trap location. It’s a first-line property with stunning views of the open sea and the old town of Ibiza. With a total built area of 174m2, three bedrooms, two bathrooms, and a big open kitchen overlooking Dalt Vila – this home is certainly worth considering. All three bedrooms at the back of the apartment also offer excellent views over Talamanca Beach.

A truly modern-contemporary home, this apartment has been completely remodelled and cannot compare to any other apartment in the building. The owner has most certainly paid attention to every detail. Guests will be immediately drawn to the beautiful open kitchen with marble work surfaces and eye-catching natural wooden doors.

A large and luxe swimming pool within beautiful gardens can be found in the outdoor area of this community. What’s more, throughout the entire year, an exclusive concierge service is available.

Villa Vistas Dalt Vila

A Can Furnet villa with a rental licence and spectacular views of the old town.

In the popular urbanisation of Can Furnet, close to Ibiza Town, Villa Vistas Dalt Vila is complete with a full rental licence. Located on 3060 m2 of land, the property has two plots. The owner bought the second plot to ensure spectacular sea and old town views. So it’s a great investment opportunity with the potential to build a second property.

This three-storey villa has an open-plan designer kitchen, an open-air gym and an outdoor dining area on the main level. On this same level, we also find the first bedroom – ideal for children, with its little salon and bathroom en suite. There is also a luxurious master bedroom with a gorgeous en-suite bathroom and two additional double bedrooms with walk-in wardrobes.

You can access the garden and pool area from the ground or the first floor with a fantastic south-facing pool. Within the grounds, the property also has a lovely guest house, a covered chill-out area, a jacuzzi and an outdoor kitchen on the first floor near the outdoor dining area.

Finding your Luxury Ibiza Home Has Never Been Easier

Let’s get talking about finding the right investment property for you. We’d love to hear from you!

Whenever you see a property that meets your needs, we strongly recommend you contact us. Investing in Ibiza can be great, but demand is almost always higher than supply, so properties often sell quickly.

Take advantage of the opportunity to make an appointment to visit any of our properties mentioned above or others we currently have on the market with us today. We also offer virtual tours upon request.