legal advice & lifestyle
This beautiful modern property is ideally located at the border of Illa plana, Marina Botafoch and Talamanca Bay. The apartment …
If you don’t want to spend a small fortune but still want to buy a property on Ibiza, then an apartment is probably the right way to go. In recent years, there has been an increase in the number of apartment buildings being constructed on Ibiza, especially in the municipalities of Ibiza Town, San Antonio and Santa Eulalia. These locations are therefore a good choice, especially if you love the vibrant city lifestyle. If you are looking for something a little quieter, then the villages of San Miguel, Santa Gertrudis, San Joan and San Rafael are a better choice.
If you are thinking about buying an apartment, remember that the monthly mortgage is not the only expense. People often forget the costs associated with buying and maintaining a property. Overall, the cost of an apartment is easier to calculate than that of a finca or modern villa, but on Ibiza this is still well above the average price of the Spanish property market. The price for a two-bedroom apartment in the north of the island is, best-case scenario, around € 290,000 and in Ibiza Town more like € 550,000.
The downside of apartment living is the noise of neighbours. This can increase in summer if the neighbouring property is rented to holidaymakers. Apartments also don’t give you the freedom to make individual changes to the house. But in the end, buying an apartment is really the only option if you don’t have a large budget.