Buying a property in Ibiza is a dream for many – whether as a holiday home, investment, or permanent residence. However, beyond the purchase price, there are several additional costs that are often underestimated. These extra expenses can represent a significant portion of your total budget. In this article, we provide a complete overview to help you plan effectively.

1. Property Transfer Tax (ITP)

For resale properties, the ITP is the main cost. In the Balearic Islands, it is progressive.Typically ranges between 8 % and 13 %, with most buyers paying around 10 % to 11 %.

2. VAT (IVA) and Stamp Duty (AJD)

For new builds:VAT: 10 %Stamp Duty (AJD): approx. 1.5 % – 2 %

3. Notary Fees

Usually around 0.5 % to 1 % of the purchase price.

4. Land Registry Fees

Typically between 0.4 % and 0.7 %.

5. Legal Fees

Hiring a lawyer is strongly recommended. Fees are around 1 %.

6. Agency Fees

Usually paid by the seller, but often included in the property price (3 % – 5 %).

7. Financing Costs

Includes valuation (approx. €300 – €800) and bank-related fees.

8. Additional Costs

NIE number

Insurance

Utilities setup

Renovations

9. Total Estimate

Resale: 10 % – 13 %

New build: 12 % – 15 %

Conclusion

Proper planning is essential. At Niki Agency Ibiza, we guide you through the entire buying process.

Note: Costs may vary depending on the individual case.