Perini Finance & Property §34i GewO · Mortgages in Spain & Portugal
Region focus · Spain · Balearics · §34i

Ibiza — mortgage for non-residents

Tight supply, high value stability, one of Spain's best addresses. Balearics wealth-tax allowance €3m — tax-attractive when structured correctly.

Market analysis

The Ibiza market & mortgage

Top locations

Ibiza Town, Santa Eulària, San José

Ibiza Town (Eivissa) — the cultural centre. Santa Eulària des Riu — a family-friendly premium segment. Sant Josep de sa Talaia — exclusive villas, Cala Tarida, Cala Vadella. Supply is tight island-wide, hence rising prices.

Loan-to-value

Up to 70% LTV

Spanish banks: up to 70% loan-to-value for non-residents. On Ibiza often valued more conservatively — the tasación can come in below the purchase price. 30–40% equity plus 11–13% costs is realistic.

Tax advantage

Balearics allowance €3m

Wealth-tax allowance in the Balearics region: €3m. Even a €2m villa stays below the tax threshold. Unlike Andalusia (effectively €0 wealth tax), Ibiza is nonetheless more attractive than Catalonia (€500,000 allowance).

Letting

ETV licence required

Tourist letting only with a valid ETV licence (Estancias Turísticas en Viviendas). On Ibiza a licence freeze since 2018 — existing licences are valuable, a purchase-price premium is common.

Access

Ibiza airport (IBZ)

Direct flights May–October to Cologne, Düsseldorf, Munich, Berlin. Off-season mostly via Madrid/Barcelona — slightly less well connected than Mallorca.

Buyer groups

International, high-priced

British, German, US and Dutch buyers dominate. Price per square metre: €5,000–15,000/m² in top locations.

Example financings

Two realistic scenarios

Concrete sample calculations for typical foreign buyers — as a guide for your own plan.

Ibiza · Santa Eulària

Santa Eulària · €850,000 purchase price

  • Equity€340,000 (40%)
  • Mortgage€510,000 (60%)
  • Purchase costs (~11%)~€93,500 (ITP 8% Balearics)
  • Loan-to-value60% LTV
  • Example payment (20 yrs, 3.2%)~€2,815/month
  • Bank typeCaixaBank / Santander · non-resident

Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.

Ibiza · San José premium

Cala Vadella · €1,500,000 purchase price

  • Equity€750,000 (50%)
  • Mortgage€750,000 (50%)
  • Purchase costs (~12%)~€180,000 (ITP 8% Balearics)
  • Loan-to-value50% LTV (conservative)
  • Example payment (20 yrs, 3.2%)~€4,140/month
  • Bank typePrivate bank · wealth management

Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.

Mortgage calculator

Calculate your costs quickly

Pre-filled with typical values for this region — adjust and calculate.

FAQ

Frequently asked questions about Ibiza

Can I get a tourist licence on Ibiza?
Very difficult — a licence freeze has applied on Ibiza since 2018. Anyone who wants to let to tourists should buy a property with an existing ETV licence. A price premium of up to 20% is common.
How high is wealth tax on Ibiza?
Balearics allowance: €3m per person (as of 2026). Only above that is wealth tax due (0.28% to 3.45%). Not an issue for most buyers. Mortgages are deducted from wealth.
Which bank finances on Ibiza?
CaixaBank, Santander, BBVA, Banco Sabadell and, at premium level, international private banks such as Banco Mediolanum or Lombard Odier. From purchase prices of approx. €1.5m, private banks with better terms come into play.
How long does a mortgage application for Ibiza take?
6–10 weeks is usual. With private banks (very high purchase prices) possibly longer due to extensive credit assessment. Faster for standard properties and a good credit profile.
Is Ibiza worth it despite the high prices?
Value stability has been above average for decades. Anyone focused on return optimisation will find better places. Anyone seeking a wealth investment with a degree of personal use, who believes in the Ibiza brand, will find one of Europe's most stable addresses here.
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Related topics

Read on

Region · Spain

Mallorca

The most popular location for foreign buyers in Spain.

Learn more → Tax · Spain

Wealth tax Spain

Allowances by region 2026.

Learn more → Practice

Mortgage requirements

What you need for a non-resident mortgage.

Learn more →

Legal notice

Author & regulatory separation. Content author: Siegfried Perini. Mortgage brokerage in Spain and Portugal is carried out under the §34i permit of Olga Nikushkina (BAFA-notified). This page does not replace legal or tax advice.