From the GHL Blog: Finding the right property can become quite tricky

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Finding the right property in Ibiza can become quite tricky

Finding the right property in Ibiza can become quite tricky
The ibiza property market boasts an incredible selection of properties – from residential buildings and modern villas, to traditional fincas and luxury apartments. Finding the right property can become quite tricky and especially time-consuming. There really is something out there to suit every kind of style, taste, as well as budget.  Our approach is completely different from other estate agents, after an initial meeting where you explain to us what you need and what kind of property are you looking for, we will present a short list of properties – only the ones that best fit your requirements and dreams! Knowing the pros and cons of each type of property is fundamental to avoid unpleasant situation in the future – for instance potential restriction on building or unexpected costs of maintenance. To take the stress away and help you make your choice easy, we have listed the pros & cons associated with the 3 most common type of properties available on the Ibiza property market, as well as a rough guide to their prices. Fincas in Ibiza Traditional Ibiza farmhouses are the right choice if you seek the quiet rural lifestyle. Privacy, seclusion and a home full of character, are the main pros of this type of properties, as well as beautiful views and plenty of outdoor space – but consider they don’t come cheap, be prepared to pay a premium to live in the countryside of Ibiza! Keep in mind that unless you buy a newly-reformed finca, it’s very likely that you’ll need to carry out some renovation works. Many of these traditional Ibiza farmhouses can be hundreds of years old, which means thick walls, small windows and modest kitchen and bathroom sizes. If you need to carry out renovation work, a disadvantage is the time-consuming process required for permission and work in general – even for small renovation. In fact you might occur in some restrictions regarding planning permission, due to the cultural heritage of the finca. But on the plus side, after all this work, you will have the house of your dreams! Also remember that fincas require constant maintenance; so a downside is the ongoing cleaning and maintenance costs associated with the everyday upkeep of this type of property. Modern Villas in Ibiza Newly built villas have the essential advantage of not having renovation costs in the near future, as well as the main advantage that once you buy it, you can then move in the same day. Prices can depend on the location and size. Modern villas in Ibiza are beautifully designed, taking into consideration modern home living and are built to a very high-standard. These type of properties have also a good rental income if you don’t want to live here the whole year, as you can rent it out easily. As villas are normally larger in size – a disadvantage, much like for traditional fincas, is the ongoing cleaning and maintenance cost associated with the everyday life of these type of properties. Apartments in Ibiza Apartments are the right choice if you love the buzzing town-life. In the last coupe of years Ibiza has seen an increase in construction of new residential buildings, with a boom in the municipalities of Ibiza Town, San Antonio and Santa Eularia. If you want that village feeling but are looking for something a bit more quiet than the villages of Santa Gertrudis, San Joan or San Rafael are good options. Overall the cost of an apartment is more accessible than country houses and modern villas, but still well above the average price of the Spanish property market. For example a 2 bed property goes from the lowest price of around €250.000 in the North of the island, to the highest in Ibiza town of approximately €1.250.000. The disadvantage of living in an apartment is the noise of the neighbours, which can multiply in summer with rental holidaymakers. Also apartments do not give you the freedom to make many modifications to the home, but overall this is the only option available if you don’t have a big budget.

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