How High Is the Property Transfer Tax (ITP) on Ibiza?
Buying property on Ibiza involves more than negotiating the ideal villa or finca. Understanding the Property Transfer Tax (Impuesto de Transmisiones Patrimoniales – ITP) is essential, especially for international buyers entering the Balearic real estate market. ITP applies exclusively to resale properties—not to newly built homes purchased directly from developers—and follows a progressive tax scale based on the final purchase […]