Buying a New Development in Ibiza?
Buying a new development in Ibiza follows a regulated, predictable structure. Below you will find a detailed explanation of each step, including what to expect, what documents matter, and what buyers often overlook.
- Reservation (To block the unit and take it off the market)
The reservation payment removes the unit from the market for a limited period, allowing your lawyer time to review the documentation.
Typical reservation fee: €5.000–€15.000.
- Private Purchase Contract (Pre-sales contract)
Once your lawyer confirms everything is in order, you sign the pre-sales contract.
This document includes:
- the exact price
- payment schedule
- delivery timeline
- contractual guarantees
- penalties for delays (if applicable)
- Specifications and materials
According to Spanish consumer protection rules for off-plan buyers, developers must provide bank or insurance guarantees for every payment beyond the reservation.
- Stage payments during construction
Payments follow construction progress. Typical structures:
- 10-20% when signing a pre-sales contract minus the paid reservation fee
- 10-20% during construction milestones
- 60-80% remaining balance at handover (signing date at the notary)
Each project is different, but the principle is the same: you pay in phases, not all upfront.
- Updates Dduring construction
Some developers are more pro-active than others, but any units signed through our company can expect regular updates on the progress. Delays are common and based on Balearic licensing data, 3–12 month delays are normal. This is why guarantees matter more than promises.
- Completion & handover at the notary
Once the home is finished and the “Final de obra” (fdo) is issued, you sign at the notary and receive the keys.
As a real estate agency, we guide you through the snagging lists & setup of utilities. As well, we have a network of preffered suppliers who can help you with your first steps. Think about decoration, detail finishings, furniture or any questions regarding the setup of the community. You walk into a home that is ready to live in.
