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Ibiza: This small island the nearest of the Balearics to the coast of mainland Spain was unknown and untouched by tourism until the 1960's when it suddenly appeared in Europe's holiday brochures along with Benidorn on Costa Blanca and Torremolinos on Costa Del Sol. There is however still a curious, indefinable magic about Ibiza (Eivissa) and the island has not entirely lost its character. The countryside particularly in the north is a rural patchwork of almonds, olives, figs and wooded hills. Ibiza still retains the air of 1950's Spanish provincial life, and has not suffered too badly from the instant arrival of package tours, the use as a hippie hideout and glamour hot spot. Ibiza's reputation for an extraordinary nightlife is largely justified with the main action taking place in 2 areas the Calle de la Virgin in the old harbour district with its bars, fashion boutiques, restaurants and nightlife out of town at Ku, Pacha, Amnesia and Es Paradis with the last of these closing at 7.00 am. One recommendation when viewing property in these areas is to come back at night to see what knock on effects might be suffered. Ibiza claims to be the birthplace of Hannibal and Christopher Columbus, yet is more famous for being the Clubbing Capital of the Med, even though not a single superstar DJ has been born here. Ibiza Town: Ibiza town is the place to be at Christmastime, with the Christmas market in the main Plaza de Vara de Rey, concerts of traditional songs by school children, roast chestnuts and grilled local sausages. It’s an ideal break from an arduous shopping trip round the town’s fashionable streets of Bartolome Rosello and the Vara de Rey itself. Meanwhile, the famous Marina area, with its many trendy bars, springs back to life for a brief period at Christmas. San Antonio: San Antonio - This archetypal package tour town with a terrible reputation (mostly due to the dreadful programmes on Sky One, is actually very nice and in winetr becomes a fishing village. Try its harbour bars, Rita’s Cantina, the Island Bar and the Nautical Club for some refined lounging. San Rafael: San Rafael - The village plays host to some of Ibiza’s best ceramics workshops, specialising in Phoenician style pottery. And Can Pilot is one of the island’s most popular country restaurants. San Carlos: San Carlos, in the Northeast of the island, has a hippie heritage, which you’ll be glad to hear is still alive and well. The 'Las Dalias’ bar/restaurant/ market complex still has a 'joss-sticks and flares’ atmosphere with concerts of '60s music. Anita’s bar was the original hippie hideaway and the lovely coves on the nearby coast are the perfect getaway from it all trip. Las Dalias Christmas Market - Find the ideal presents for all your hippie friends at San Carlos’s traditional alternative Saturday market. Fun & Culture: UP TO €15 (£10.50)
Buying Property in Spain Buying
a Spanish property will normally be contained in a private contract
with a deposit of around 10% payable which is binding by law. It
is possible to agree a contract where either party may change their
minds at a financial cost. The private contract should contain
details of the agreed deposit payment, purchase price and details
for payment of the outstanding balance of the agreed buying price
plus any additional extras and your intended completion. A Notary
will prepare the official contracts and make sure it complies with
Spanish regulations. If there is common ownership a Community of
Owners must be established through which community charges can
be shared. If your property is contained in an apartment block
then the law will relate to the Horizontal Division and this should
be clarified, especially in new developments. Any property sale
or purchase in Spain should be registered in the Land Registry
and its important to make sure any relevant taxes are paid before
this is done. It
is common practice for the sale and purchase price to be understated
by Spanish sellers, enabling them to reduce their tax liability
and reducing your
stamp duty fees. However, you could be liable for Capital Gains tax on additional
profit once the true price is declared and non residents will normally be
expected to deposit 5% of the sale proceeds with local tax offices
until any agreements
are reached, and could have liability by both seller and buyer if the profits
or in excess of set limits around Pt2,000,000. You
would expect to pay a total of around 10% of the purchase price
for realestate in Spain. This could include Stamp duty, charged
at 7% of the official selling price (4.5% for the Canaries), and
0.5% for contract documents Land Registry is charged against a
rateable table held by local authorities. There will also be a
tax on the increase of the land your property lies on since it
was last sold and should be paid by the vendor. Notary fees will
also be included in the total costs. All
your Spanish property taxes will be based on the official price
registered, not on selling prices and you would expect to pay under
1% annually, plus additional service taxes set by the local authority.
Wealth tax charges apply for residents after 17m ptas of net assets;
if you don’t apply for residency you could be charged tax for all
your net assets. Rate varies from fractions of a percent to over
2% depending on net assets. Click
Here for more info. Spanish lenders will allow you to borrow against Spanish property and can usually be arranged in most major currencies normally over terms of up to 15 years, with exception of 25 years at up to 80% of the buying price. BILBAO AIRPORT Menorca
Property Ibiza
Property Mallorca
Property Majorca
Property For more information on Ibiza Property and to arrange your viewing visit:
Costa Del Azahar Property Guide Costa Almeria Property Costa De La Luz Property Guide Costa Brava Property Guide Balearic Island Property Guide Canary Island Property Guide
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