Ibiza — mortgage for non-residents

How high is the transfer tax when buying property on Ibiza?

Ibiza belongs to the Balearics, which levy a progressive ITP — from 8 % and, in several tiers, up to 13 % in the higher price bands. As Ibiza is one of Spain's most expensive property markets, many properties reach the higher tiers; the effective rate here is often well above the 8 % entry point. One offset: the Balearics grant an increased wealth-tax allowance of €3m per person. The ITP is the largest single item; budget around 11 to 13 % in total costs, more in premium locations. Important for financing: banks finance the purchase price, not the incidental costs, and lend against the lower of purchase price and tasación — you cover the tiered ITP from equity. Especially for high-priced properties it pays to calculate the tax tier before the private contract. As of 07/2026.