Property ID : SH_Villa Gladiolas
Sold €496,000 - Detached Villa
Bank repossession 3-bed villa in Santa Eulalia, Ibiza for bargain EUR 496,300 comes with hillside vistas and easy access to laid-back Santa Eulalia and its famed restaurants and family beachlife.
This rare bank repossession in Ibiza at bargain price has sea and mountain views and the potential to double its price after a careful refurbishment to enhance assets like three chill-out terraces, private swimming pool and jacuzzi.
Villa Gladiolos is a typical house of Ibiza, with 180 m2 living space divided into two levels. On the top floor are the three bedrooms one with direct access to the large terrace for excellent views of the sea and the mountains of Ibiza. There is another double bedroom and a third that was used by the previous owner as a living room.
The open plan ground floor has a dining room and living room with fireplace and direct access to a chill terrace with a jacuzzi. There is a covered terrace on the front of the house which stands on a hillside plot of around 680 m2 of mature trees and planting.
A discerning investor can refurbish and update the villa the price and watch the equity grow quicker even than the booming local market and enjoy solid holiday lets as a sleep 8 persons villa in the booming lettings market.
Located in the upmarket Valverde district of Santa Eulalia, just five minutes from the main resort, this spacious villa is offered at 60% below current market levels in Ibiza, where prices continue to rise – 2.7% in 2015, the second highest in Spain – and there have been few bank repossessions during the recession.
The bank owner will offer a 60% mortgage to a qualifying buyer of the 180 m2 villa sitting on a private hillside plot of 692 m2 overlooking a verdant valley. There are spacious rooms and generous terrace areas that can be refurbished to a high-level international standard for the booming villa rental market. There is room for a private swimming pool.
Study the images taken by our local keyholder and then use our renowned Fly to Buy service to confirm the full potential for the villa for family use or for vacation rentals. It’s priced so far below other 3-bed villas in Ibiza, you could refurb to the highest standards and still have secured an unbeatable bargain.
Prime location for Spanish bank repossession 3-bed villa at Santa Eulalia
- The villa is 17 kilometres from Ibiza airport which is around 15-20 minutes driving.
- Nearest supermarket is a Spa about one kilometre away, about two minutes by car or a ten minutes walk.
- Nearest beaches are Cala Llonga and Sol D’en Serra. They are all within a two minute drive or a 15-25 minute walk.
- Nearest restaurant is a five minutes walk. Great restaurant called Amante on the beach of Sol D’en Serra.
- Nearest golf course welcomes non members and is 3 kilometres away, about a five minutes drive.
- Ibiza town nightlife and sightseeing is 9 kilometres away, which is a 10-12 minute drive.
Valverde is close enough to walk into Cala Llonga with its beach, shops and restaurants, while just a little further away is the excellent seaside resort of Santa Eulalia, with a family safe sandy beach, supermarkets, shops, bars and restaurants and a promenade leading to a picturesque marina.
The town also has a famous hippy market, a hangover from the 70s when the hippy scene was centred on this part of the island. Nowadays, it is also a celebrity hotspot, thanks to a paparazzi-free environment.
Santa Eulalia has a fine reputation for its gastronomic offerings, with a dozen or more first class restaurants and beach clubs, including the international Nikki Beach Club.
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