Is a seasonal rental contract OK for holiday rentals?
Ibiza generally prohibits tourist rentals, but some landlords attempt to bypass this by formalizing seasonal leases exceeding a month. However, distinctions exist between seasonal leases and tourist rentals under different legal provisions. While ... READ MORE
Published: 15/12/2023
Understanding the New Balearic Inheritance Tax Laws
As reported in the media this summer, the new government in the Balearic Islands has implemented one of its electoral promises by adopting changes to the inheritance tax. The legislative decree of 18 July 2023, states that inheritance by close rel... READ MORE
Published: 15/10/2023
Prestige Properties: Celebrating 40 years on Ibiza
Prestige Properties, a luxury real estate agency in Ibiza, celebrates its 40th anniversary, reflecting on its history and vision. Founded by Pascale Dufournier in 1983, the agency thrived, overcoming challenges and evolving. After Pascale's passin... READ MORE
Published: 15/08/2023
Trends in Ibiza Real Estate
Ibiza's real estate market faces high demand, driven by its uniqueness and investment history. After the 2008 crisis, it recovered, but COVID-19 affected it in 2020. Construction is growing, but most properties are used as second homes. Government... READ MORE
Published: 15/08/2023
The Importance of the Energy Efficiency Certificate
The energy efficiency certificate is essential for selling or renting properties in Ibiza. Rated from A to G, it assesses efficiency in aspects like heating, lighting, and insulation. Important for buyers and mandatory for vacation rentals since 2... READ MORE
Published: 15/08/2023
MODELO 210 - Tax for Non-Resident Homeowners
Non-resident property owners in Ibiza must pay Income Tax and file an annual declaration using model 210. The tax is calculated on the cadastral value, with the base for the EU being 1.1% of that value, while for non-EU citizens, it is 24%. The se... READ MORE
Published: 15/06/2023
Ibiza Legal - The visit sheet
What is the point of this document, which is signed when you visit a property? In Ibiza, when a real estate agency shows a property to a possible buyer, usually a document is signed which leaves a record of this visit. This document is called a “v... READ MORE
Published: 15/08/2019
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Succession Agreement: Planning for an anticipated inheritance
An important concern for many homeowners in Ibiza is how their property will be inherited. The covenant known as an “succession agreement” (“el pacto sucesorio“) is a useful instrument that serves to regulate property transmissions between relativ... READ MORE
Published: 15/06/2019
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An obstacle for non-EU buyers: obtaining a military authorization
Did you know that a Canadian citizen can freely buy an attic apartment in the centre of Ibiza, but is not allowed to buy an inland property, just a few miles from town, unless s/he receives a specific authorization from the Ministry of Defense? Th... READ MORE
Published: 15/04/2019
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How can we reduce the Wealth Tax bill?
Wealth Tax (“Impuesto sobre el Patrimonio”) was abolished in Spain in 2008, but a few years ago it was brought back again at national level, and thus, also in Ibiza. This tax is applied both to residents and non-residents when the value of their b... READ MORE
Published: 15/02/2019
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What are the mortgage costs that the banks will need to repay?
There has been much talk in the press recently about the latest rulings stating that the banks should have to pay back to their customers at least part of the additional costs of setting up a mortgage. Until recently, there was a clause in the gen... READ MORE
Published: 15/12/2018
The function of the Land Registry
Even a layman knows the importance of checking the Land Registry when buying a property in Ibiza. This institution is based on the principle of the public faith registration, i.e., the information about registered properties has objective reliabil... READ MORE
Published: 15/10/2018