Before investing in the Ibiza real estate market you should have a good understanding of the market and its legal matters. It’s not so easy, especially if you are coming from a foreign country, so to help you out today we’ve rounded up 3 basic tips for investing in the Ibiza real estate market.
1) KNOW THE RULES
The Ibiza holiday rental market is booming, but not all the properties available on the Ibiza real estate market can be let to tourists. There are (and have always been) strict laws governing tourist rentals and you need to make sure the property that you are buying fits the requirements for holiday lettings.
2) KNOW THE MARKET
When it comes to investing in the Ibiza real estate market there isn’t really a bad area, but you should think about your target. Location, location, location isn’t always a golden rule in Ibiza, sometimes privacy and beautiful views are more important than central location. Know the market and its hotspots is a key factor that indicates whether an investment will be successful or not.
3) DECLARING INCOME AND TAX
If you are a resident of Ibiza, you must declare your income from property rentals. If you are a non-resident, you must also declare all income in Spain. Find a good “gestoria” is an essential part if you want to invest in the Ibiza real estate market. Spain is heavy on paperwork and bureaucracy and has frequent law changes, so a reliable “gestoria” will save you massive amounts of stress.
Without no doubt, Ibiza is one of the most highly sought after destinations in the world, and there is more demand for properties that can be met right now. Ultimately, as long as you do everything properly, investing in the Ibiza real estate market it’s well worth it.
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