• Follow us


House Hunting in … Spain

A Seven-Bedroom Finca on Ibiza$3.3 MILLION (2.98 MILLION EUROS)

This seven-bedroom country house sits on a hill outside San Antonio, a town on the west coast of Ibiza, one of Spain’s Balearic Islands in the Mediterranean Sea.

The 6,577-square-foot, white-stucco house was built in 1970 in traditional Spanish finca style around an older structure that dates to 1790 and is thought to have been a monastery, said Inge Van Knippenberg, an agent with Prestige Properties, which has the listing. The house was renovated in 2011, with new plumbing, electricity, solar panels, air-conditioning, under-floor heating and a water decalcification system.

The 0.72-acre property includes a guesthouse with two bedrooms and a bathroom, an orchard, a pond and a swimming pool.

Behind an electric wood gate, a gravel driveway leads to a pergola-style carport and the main house. A carved wood door opens to a foyer and one of two staircases. Polished concrete floors cover most of the ground level.

Through an archway, the central salon includes a living-and-dining space. The dining area has a vaulted ceiling with thick Sabina wood beams traditionally used on Ibiza to support roofs in old farmhouses. Another archway leads to a small TV room.

Two en suite bedrooms are off the salon, along with a blue-tiled powder room and the kitchen. Wood doors open to a large courtyard with a lily pond and several seating and dining areas.

ImageAbove, the den of this seven-bedroom, white stucco house has tall glass doors that open to a patio. Polished concrete floors cover most of the ground level. CreditSofia Gomez Fonzo for The New York TimesImageThe kitchen has a concrete-topped center island with wood drawers, a cooktop and a sink. It also has a wood-burning fireplace.CreditSofia Gomez Fonzo for The New York Times

The kitchen has a wood-burning fireplace, a center island with a polished cement countertop, wood drawers and a bar area. The large pantry has a refrigerator, freezer and wine refrigerator, with a laundry room beyond.

A few steps down from the kitchen is a den, which has double glass doors that open to a patio. Another door leads to a shaded outdoor area with built-in seating and a decorative tile wall.

The master suite has a dressing area and a large bathroom with two concrete vanities, a tub and three floor-to-ceiling glass arches; the center arch is a door opening to another shaded patio.

Three more en suite bedrooms are upstairs, all with wood floors. A single bedroom with a hallway bathroom is up another flight of stairs from the kitchen. A second-floor terrace offers views of Ibiza Town, the island’s capital, to the south.

In the garden, the 10-by-32-foot swimming pool has a stone-tile deck, shaded seating and dining areas, and lounges for sunbathing. There are also two outdoor showers.

Around the pool area are “loads of fruit trees — almond, peach, lemon, orange, tangerine,” Ms. Van Knippenberg said. “You can live there and just eat from the garden.”

ImageThe dining area in the main salon has a vaulted ceiling with local Sabina wood beams, traditionally used in Ibiza’s old farmhouses.CreditSofia Gomez Fonzo for The New York Times

The island of Ibiza, which sits between Spain’s eastern coast and the island of Majorca in the Mediterranean Sea, is known for its picturesque bays, green mountains, white beaches, boating, restaurants and nightclubs. This property is a five-minute drive from San Antonio, eight minutes from the village of San Rafael, and about 15 minutes from Ibiza Town, on the southeastern coast. Ibiza Airport is 20 minutes away.

Market Overview

During the past decade, Ibiza has been the Balearic Island “with the highest growth in prices,” although Majorca has “bigger properties” and “more luxury real estate,” said Victor Van Den Driessche, the sales director and a partner at Prestige Properties. He attributed that to Ibiza’s rising profile as a global hub for night life, which has resulted in more high-end shops and five-star restaurants, more direct flights from large European cities and the renovation of many villas.

The market starts at about 250,000 to 300,000 euros (or $280,000 to $335,000) for small apartments, 700,000 to 800,000 euros ($780,000 to $893,000) for houses and about 1 million euros ($1.1 million) for four- or five-bedroom villas with a pool, Mr. Van Den Driessche said. But the “heart” of the luxury market is 2 to 4 million euros ($2.2 million to $4.5 million), he said, with “very special properties” going for 10 to 20 million euros ($11.2 million to $22.3 million).

In Cala Vadella, a beach resort on the San Jose coast, prices at a new 24-unit luxury complex range from 380,000 to 775,000 euros ($424,000 to $865,000), said Mirjam de Boer, the marketing manager for VIVA Sotheby’s International Realty.

In the past year, prices have remained “very stable,” but in 2019 there have been fewer transactions, said Marcus von Busse, the project manager for Engel & Völkers on Ibiza. A number of factors, including Europe’s unstable economic outlook, have resulted in inventory that is “a bit lower than usual,” he said. “There are no bargains.”

ImageA shaded outdoor lounge overlooks the swimming pool.CreditSofia Gomez Fonzo for The New York Times

Sellers “are quite stuck on their price,” said Maxim Rettich, an owner of Ibiza Now Real Estate. At least until after the summer, “when the rentals are done,” he added, and “they are more eager to sell and more open to negotiate.”

In the country, “strict new regulations” limit what can be built, Mr. von Busse said. With increased tourism and a high season that stretches from mid-May to mid-September, he said, “there is a desire to protect nature and to limit the number of properties on the island.”

Many buyers are waiting for the results of the May 26 Balearic Islands regional election, in which all 59 seats in parliament are in play. At stake is whether the two-year-old moratorium on new building licenses and strict renting rules will be extended or lifted, Mr. Rettich said.

Who Buys on Ibiza

About 20 percent of buyers on Ibiza are from mainland Spain, agents said. The rest are from other European countries, including Germany, the Netherlands, Belgium, France and Italy, as well as England and Scandinavia. And agents are beginning to see buyers from the United States, Russia, China, India and the Middle East as well, Mr. Van Den Driessche said.

The vast majority of foreign buyers are seeking second homes, Mr. von Busse said.

The areas most popular with foreign buyers are in the south, where Ibiza Town offers many entertainment and travel options, and “where the sunset views are stunning,” Ms. de Boer said. Especially desirable are areas close to the center of Ibiza Town, like Talamanca, a beach resort; Cap Martinet, home to the island’s jet set; and Can Rimbau, a luxury enclave next to the village of Jesús.

ImageThe back of the finca has a covered alcove for a siesta in the shade.CreditSofia Gomez Fonzo for The New York TimesBuying Basics

A foreign identity number, or NIE, is required to buy property in Spain if you are not a citizen.

In the Balearic Islands, transfer taxes on resale properties are on a sliding scale, from 8 percent on a property sold for 400,000 euros ($446,000) to 11 percent on properties valued at more than 1 million euros ($1.1 million), Mr. Van Den Driessche said.

New houses and apartments are subject to a 10 percent value-added tax. There is also a stamp duty of 1.2 percent of the sale price.

Notary costs, paid by the buyer, usually do not exceed 2,000 euros ($2,230). Buyers are also advised to retain a lawyer for due diligence; the fee is about 1 percent of the sale price.

Mortgage are available to foreign buyers, and the property appraisal required to obtain a mortgage costs about 500 euros ($560); other costs associated with getting a mortgage total about 1 percent of the loan principal.

Foreign buyers who spend at least 500,000 euros ($560,000) on a home may obtain a Golden Visa that allows them and their families to live and work in Spain, Ms. de Boer said.


Ibiza tourism: ibiza.travel

Balearic Islands government: portsdebalears.com

Balearic Islands travel: willesbalears.travel

Languages and Currency

Catalan, Spanish; euro (1 euro = $1.12)

Taxes and Fees

The annual property taxes on this home are 1,200 euros ($1,340).


Inge Van Knippenberg, Prestige Properties, 011-34-971-19-04-55; ibizaprestige.com

For weekly email updates on residential real estate news, sign up here. Follow us on Twitter: @nytrealestate.

Read More

Leave A Comment

More News

NYT > Travel

In San Francisco, the Revival of the Hotel 2019-06-14 13:23:17A wave of recently opened hotels featuring high-profile cocktail bars is drawing local savants in a city known for its lively bar scene.

Dia Diversifies, While Staying True to Its Roots 2019-06-14 13:11:25A farsighted director is leading a profound transformation and anointing the next Dia Generation: Charlotte Posenenske and Lee Ufan.

What We Know About the Dominican Republic Tourist 2019-06-14 10:14:51Six Americans have died at resorts on the popular Caribbean island, and their families are raising questions about the circumstances.

What to Do in New York This Weekend 2019-06-14 09:21:23There’s something for everyone, from classical music in the park to Alvin Ailey at Lincoln Center and four must-not-miss art shows spotlighting

5 Little Museums of Paris, for Little Travelers 2019-06-14 05:00:03Yes, there’s the Louvre. But Paris and its surrounding region also have some 200 other museums, many of which cater happily to young travelers a

House Hunting in … Mexico 2019-06-14 01:04:40In the culturally rich city of San Miguel de Allende, home prices are sagging after a recent surge in new construction.

Decoding Secret Florence 2019-06-13 18:08:25Brick-and-mortar retail is alive and well in the Renaissance city, a true wonderland for shoppers. But to find the best addresses, you need insider ti

How to Have a High-End Vacation for Less 2019-06-13 16:17:44You want luxury, but you don’t want to overspend for it. Here’s how to save in five popular and pricey cities without feeling deprived. (N

Chernobyl, With Helping Hand From TV, Becomes an 2019-06-13 15:28:52The rising popularity of visits to the nuclear site, attributed partly to the hit HBO show “Chernobyl,” has led to concerns about some gue

Put Off by Venice’s Crowds? Try the Oasis 2019-06-13 09:15:01Should tourism be limited in overcrowded European cities? The author ponders the issue as he explores Treviso, Venice’s quieter neighbor, where

Berlin’s Troubled Humboldt Forum Pushes Back Opening 2019-06-13 08:50:20The high-profile museum project in the German capital has aroused controversy over its treatment of colonial-era objects. Now technical problems have

36 Hours in Oxford 2019-06-13 05:52:24Scholarly strolls and boozy cruises in the ultimate British college town.

Breaking Travel News

News: Aloft Dublin City takes brand into Ireland 2019-06-17 03:13:12Marriott International has announced the official opening of the design-led Aloft Dublin City, the first Aloft hotel to open in Ireland. The hotel is

News: Six Senses Hotels unveils Iceland property 2019-06-17 03:09:39With Iceland enjoying clean air, sustainable energy and high national happiness, it is no surprise that Six Senses Hotels Resorts Spas is daydreaming

News: P&O Cruises celebrates latest Iona construction milestone 2019-06-17 02:31:36A key stage in the construction of Britain’s newest and most contemporary cruise ship has been marked at the Meyer Werft shipyard in Papenburg.

News: Rove at the Park expands mid-sector accommodation 2019-06-17 02:26:00Rove Hotels has opened its sixth hotel in Dubai, Rove at the Park, in Dubai Parks & Resorts, the largest integrated theme park destination in the

News: Jamaica minister of tourism promotes destination in 2019-06-17 01:53:02Edmund Bartlett, minister of tourism for Jamaica, and Donovan White, director of tourism at the Jamaica Tourist Board, were in Paris to meet with majo

News: Tourism leads surge in Dubai business growth 2019-06-16 04:43:53Signalling growing investor confidence in Dubai, new business licenses issued in the emirate during the first four months of 2019 increased 35 per cen

News: Palm Jumeirah takes centre stage with Dubai 2019-06-15 04:19:16With nearly a week to go until the start of the 22nd edition of Dubai Summer Surprises, Dubai Festivals & Retail Establishment has announced the h

News: Japan Airlines takes delivery of first A350 2019-06-14 03:52:12Japan Airlines has taken delivery of its first A350 XWB at Airbus headquarters in Toulouse, France. The A350-900 is the first aircraft produced by Air

News: W Dubai – The Palm to welcome 2019-06-14 03:40:16W Dubai – The Palm is set to launch an innovative new ‘What She Said’ event featuring inspirational women, where fashion and feminin

News: Śešo to lead Mövenpick Hotel Apartments Downtown 2019-06-14 03:39:48Śešo held several positions within Accor and will now be heading the hotel’s operation with 244 units of rooms and apartments conven

News: Airbus draws inspiration from nature for next 2019-06-14 03:39:16Airbus engineers have developed a scale-model aeroplane with the first in-flight, flapping wing-tips that could revolutionise aircraft wing-design. Th

News: NATS records busiest day of airline traffic 2019-06-14 03:36:28In May, NATS handled 236,122 flights in UK airspace, an increase of 1.6 per cent compared to the same month last year. There was growth in most areas

Global Traveler

Radisson Adds a Hotel at Zürich Airport New! 2019-06-17 12:30:43Zürich Airport is now home to the upscale Radisson Hotel brand. The 211-room property was formerly part of Radisson Hotel Group’s mid-marke

KLM Pursues Sustainable Aviation with New Aircraft Design New! 2019-06-17 12:30:18KLM partnered with Delft University of Technology to unveil a new, sustainable aircraft design. The Flying-V aircraft boasts an aerodynamic “v&r

Aloft Brand Expands into Ireland New! 2019-06-17 09:00:25Marriott recently opened its first Aloft-branded property in Ireland. Aloft Dublin City is located in the Blackpitts neighborhood, in the Liberties qu

America’s New Longest Domestic Flight 2019-06-16 17:00:09Hawaiian Airlines now boasts the longest domestic flight in the United States. The country’s new longest flight to set a record connects the nor

Hilton Celebrates 100 Years with New Foundation 2019-06-16 12:33:01Hilton celebrates its 100th birthday with the creation of the new Hilton Effect Foundation. The Foundation launched earlier in the month with 15 grant

Qantas Completes Zero-Waste Flight 2019-06-16 12:30:01Qantas notched a worldwide first last month as it completed the first commercial flight to produce zero waste. The airline committed to eliminate 75 p

Hyatt Heads to Lisbon 2019-06-16 09:00:26Hyatt marks a new milestone in Portugal with the introduction of its Hyatt Regency brand. The Hyatt Regency Lisbon is expected to open in 2020 with 20

Royal Caribbean Introduces Facial Scanning Security Measures 2019-06-15 17:00:53More travelers take cruises every year, and traffic volume continues to swell. As a result, cruise lines are constantly on the lookout for ways to str

Belmond Introduces Bespoke Scottish Excursions 2019-06-15 12:30:42Now guests staying aboard the Belmond Royal Scotsman, the luxury sleeper train, enjoy unprecedented bespoke excursions throughout Scotland. After Dark

Mexico City Airport Could Add New Terminal 2019-06-15 12:30:05Mexico City International Airport will probably not be completely replaced, but instead could soon see an expansion in the form of a new terminal. Mex

United Announces 31 New Summer Routes 2019-06-14 17:00:57Just in time for the summer 2019 travel season, United Airlines announced a new slate of destinations from the United States to hot spots both domesti

To New Heights 2019-06-14 15:22:11United Airlines announces a number of new routes. United Airlines soars to new heights this year with unprecedented international route expansions fro

Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.