Ibiza continues to be one of the most desired destinations to live, invest or have a second home.
Every year, buyers from Germany, France, Italy or the United Kingdom fall in love with the island and decide to take the plunge.
The good news: buying a house in Ibiza as a foreigner is entirely possible. You just have to know the steps, the necessary documentation and have a trusted local agency that accompanies the process.
To buy a property in Spain as a non-resident, you will need:
NIE (Foreigner Identification Number): it is requested at the National Police or at the Spanish consulate.
Bank account in Spain: necessary to make the payment, taxes and receipts.
Valid passport or ID card.
At KUM Ibiza Agency we help our international clients obtain these documents before signing, so that the process is quick and smooth.
In addition to the price of the property, there are some additional expenses to consider:
Property Transfer Tax (ITP): between 8% and 11% depending on the value of the property.
Notary and Land Registry: between €1,000 and €2,000.
Lawyer or agency: recommended for reviewing contracts.