The Real Deal in Ibiza

Les Terrasses de Cala Tarida, South West Ibiza

Attractive, brand-new apartments by the beach, for sale at irresistible prices.

Key Features

• Just a minute’s walk to one of Ibiza’s finest, family beaches
• West facing, with amazing sea views towards breathtaking sunsets
• Genuinely high quality design and build
• Irresistible prices and financing terms (up to 80%)
• Excellent value for money

Les Terrasses de Cala Tarida is a new development of 70 stylish 2/3 bed apartments in 3 low-rise buildings facing west towards the sea across landscaped communal gardens and pools.

Still in the final phase of construction, buyers will be getting superb quality in mint condition. The specifications are excellent, the design elements are attractive, and the distributions are intelligent.

Thanks to Cala Tarida's westerly orientation many of the apartments have wonderful sea views and breathtaking sunsets. Relatively few other locations in Spain can boast of sunset sea views like this.

The ground floor homes all have private gardens, whilst the first, second, and third floor flats and penthouses have spacious terraces and solariums that will be great places to enjoy the views and sea breezes, day or night. Interiors are generously sized, ranging from around 75m2 - 100m2, so you will never feel cramped.

Serious money has been spent on the gardens, which are planted with pine trees, palm trees, olive trees and lawns surrounding 2 communal pools, each with its own kids pool. There is also a paddle tennis court that is bound to be a hit with the older children.

The architectural style is modern, with a hint of South Beach Art Deco. In contrast the gardens have traditional Ibizan style elements like dry stone walls. Cala Tarida will look fabulous when finished in a few months time.

A Superb Location

Les Terrasses de Cala Tarida is just a couple of minute’s walk from Tarida Beach, one of Ibiza’s finest family beaches, with its white sand and clear blue water. This is the kind of beach that people fantasise about.

• There is a beach bar and restaurant serving up delicious, fresh seafood throughout the summer
• The area is quiet and safe, a great environment for families with children
• There is little traffic and older kids can easily walk to the beach
• The area around Cala Tarida is largely rural, and the shoreline is lightly-built with low density urbanisations kept in check by strict planning laws
• Compared to many parts of the Spanish coast, the area around Cala Tarida has been barely touched by development.

Despite the tranquil, rural environment, Cala Tarida is far from isolated.

• 30 minutes’ (25kms) drive from Ibiza Old Town and Port
• 20 minutes (18km) from the airport (typically a 20 Euro taxi ride)
• 15 minutes’ from the town of Sant Antonio
• 3 minutes to local shops, restaurants and a supermarket

Just a couple of hours by plane from European cities like London and Paris, Ibiza is a world-famous holiday destination with an extraordinary variety of things to do, all of which can easily be enjoyed from Cala Tarida: The hippy-chic, glamour, night life, awesome beaches, stunning interiors, not to mention some of Europe’s coolest retreats and spa’s.

And just half an hour on a ferry and you are in Formentera, a beautiful, laid-back little island with Caribbean-style beaches that you can easily explore on day trips from Cala Tarida.

A Sound Investment

Cala Tarida should be approached as a life-style purchase for those who want a stylish pad in an exceptional location at a great price. But it also has a strong investment case:

• Thanks to its location and characteristics it appeals to sophisticated and affluent buyers from around Europe and further afield
• It benefits from Ibiza’s global brand name, which drives world-wide demand for a slice of Ibizan beauty and glamour
• Whether renting or selling, you are likely to find a ready market of internationally diversified demand
• Cala Tarida is brand new, a big plus in an area that has many devotees, but where much of the property was built decades ago

And crucially, Cala Tarida is being offered at prices approximately 20% below comparable asking prices in Ibiza. That helps explain why Cala Tarida has sold briskly throughout the economic crisis, and continues to sell well despite the depressed market.

3 years ago, when the market was more buoyant, Cala Tarida would have sold in the 350,000 – 550,000 Euros price range, compared to 230,000 – 360,000 today. It is now excellent value for money.

Why is Cala Tarida is being sold at such a discount? As can happen in times of economic distress, the original developer borrowed too much and ran out of money, so the bank repossessed and sold at a discount to the present developer, who would rather sell quickly for a smaller profit than spend years chasing higher profits.

The bottom line is that Cala Tarida is a remarkable opportunity brought about by the economic crisis.

Rental Potential

Cala Tarida should also have good rental potential:

• It will appeal to families and couples from all over Europe looking for a chill-out beach holiday with the option of glamour and nightlife that only Ibiza can offer
• Rental clients are likely to be sophisticated, affluent families who don’t trash the property
• There is not much competition in this sought after area, where Les Terrasses de Cala Tarida will be the smartest property on the rental market.

If you do some numbers using plausible assumptions about occupancy and rental rates, Cala Tarida looks like it could deliver gross yields of up to 10%, depending upon how much you want to use the place yourself. It may even cover its mortgage costs*.

Great Prices, Generous Payment Terms, and Outstanding Financing

Prices range from €228,400 to €356,300 plus VAT (7% now, going up to 8% in July), with generous payment terms:

• A deposit of €3,000 to reserve your property
• One stage payment of 10% during construction
• The remaining 90% when you complete before a notary, and move in to your fabulous new home

The financing terms are outstanding in the present economic environment:

• Up to 80% LTV for EU nationals
• Euribor +0.65% (minimum 3.5%) for a maximum of 35  years

If you take full advantage of the financing you may only have to pay around 20% of the purchase price (plus transaction costs) from your own funds. So British buyers can minimise their use of pounds whilst the exchange rate is unfavourable.

Prices may change as properties are sold. For the latest prices please contact the developer.

A Safe Purchase

Les Terrasses de Cala Tarida is in the final stages of construction, with delivery expected to take place in the spring or early summer of this year (2010), so most of the 'off-plan' risk has gone.

• All construction licences are in place, and you will not be expected to complete until the Licence of First Occupation (LFO) has been issued for your property
• As required by law, the developer will arrange, at no extra cost, bank guarantees for stage payments, and the 10-year builders’ guarantee
• With all stage payments guaranteed, and completion taking place only after the LFO has been issued, you get what you paid for, or your money back
• The developer is a Catalan company with 30 years experience
• An independent legal search gave this development the all clear

When buying in Spain you should always do your own legal search, and Cala Tarida is no exception. See bottom of page for conveyancing at Cala Tarida.

Don't Delay

If you are interested in a stylish, well-built, brand-new home in Ibiza with communal gardens and pools, lovely sea views, just a short walk from the beach, plus good rental potential, all for an exceptional price, then look no further than Les Terrasses de Cala Tarida.

But with more than half the properties sold in the last six months, and the remainder selling well, the opportunity won't last. So if you’re interested, don’t delay, and get in touch with the developer for more information with a view to arranging a visit to see that Les Terrasses de Cala Tarida is all that it's cut out to be.

Fill in this form to contact the developer. A sales advisor will respond shortly.

* On the subject of rental potential all figures are just reasonable estimates, not promises or guarantees. If rental potential is important you must do your own research, and reach your own conclusions. You should only buy if you can afford to do so without any rental income, and enjoy any rental income you get as an added bonus.

For legal search and conveyancing at Cala Tarida contact Juan Bertomeu, an independent, English-speaking lawyer familiar with this development. Tel +34 609 477 889, email jb@iurisconsulting.net

+ Les Terrasses de Cala Tarida en Français