The future owners of the golden mile of Ibiza’ s promenade already know how much they will have to pay to live in front of the mythical club of the two cherries. The commercial dossier of the new Casa Pacha Residences development, on the site of the old parking lot annexed to the Pacha Hotel, sets prices of between 2.58 and 9.55 million euros per home and raises the value of the square meter well above 20,000 euros in most of the typologies.
The project was already advanced by La Voz de Ibiza when it was still presented as a building of ultra-luxury tourist apartments and, later, when the tourist moratorium forced to reorient it towards a high-end residential use. Now, with the brochure in hand, seven types of branded homes with five-star hotel services and a total of 19 residences in front of the so-called golden mile of Marina Botafoch are confirmed.
According to the Casa Pacha Residences brochure, the development is organized into seven housing typologies, all with large terraces and Jacuzzi or private pool, and all marked as currently available. In total, the document details 19 residences: 2 with one-bedroom terraces, 8 with two bedrooms, 3 with three bedrooms in different configurations and 6 penthouses, plus a Garden Villa with swimming pool. The dossier does not clarify if there will be more units in other phases or if some of the inventory is already reserved.
Exorbitant prices
At the lower end of the range are one-bedroom residences, with total surfaces ranging from 101 to 106 square meters (between 82 and 86 square meters interior, plus terrace and Jacuzzi). The starting price is 2,585,088 euros, which is equivalent to between 24,400 and 25,600 euros per total square meter and between 30,100 and 31,500 euros per square meter interior, according to calculations based on the commercial brochure itself. There are 2 units available in this typology: one on the second floor and the other on the third floor.
The two-bedroom properties are offered between 142 and 160 square meters total, with 122 to 131 interior meters and terraces of between 18 and 36 square meters, in addition to the jacuzzi. The minimum price set is 2,988,900 euros, which places the value of the total square meter in an approximate range of between 18,700 and 21,000 euros, and the interior square meter between approximately 22,800 and 24,500 euros. These 8 units will be located on the second, third and fourth floors.
Above are the 3 BED | Terrace Suite w/Hot Tub, with a total area of 180 to 188 square meters, of which 156 to 158 meters are interior and the rest terrace with Jacuzzi. The starting price is 4,043,124 euros, which means between 21,500 and 22,500 euros per square meter total, and around 25,600-25,900 euros per square meter interior. There are 2 units of this typology available in the document.
The most unique piece on the first floor is another three-bedroom property, which totals 408 square meters, divided into 240 interior meters, 168 meters of terrace and a 31-square-meter swimming pool. The price set in the brochure is 5,981,050 euros, which translates into about 14,700 euros per total square meter and about 24,900 euros per interior square meter. Only one unit of this villa with its own garden and swimming pool is being marketed.
Penthouses: up to 9.55 million and over 60,000 €/sqm interior
At the top of the offer are the penthouses, which the dossier groups under the title “Generous Penthouse Terraces”, with very large terraces and privileged views. All penthouse typologies include a 7 square meter Jacuzzi, large terraces and access to the high-end residential services advertised for Casa Pacha Residences.
The one-bedroom penthouse totals 184.9 square meters in total, with 86.2 interior meters and 98.7 meters of terrace, in addition to the Jacuzzi. Its starting price amounts to 4,879,290 euros, which implies about 26,400 euros per total square meter and about 56,600 euros per interior square meter, according to the surfaces detailed in the brochure.
In an intermediate step are the two-bedroom penthouses, with total surfaces of between 275 and 350 square meters, of which 126 to 155 meters are interior and 148 to 194 meters correspond to terrace. The minimum price is 6,971,699 euros; with these figures, the total square meter moves between approximately 19,900 and 25,400 euros, while the interior square meter is approximately between 45,000 and 55,300 euros. The brochure indicates 4 available units of this type of penthouse.
At the top of the development is the three-bedroom penthouse, which has a total of 465.4 square meters: 155.4 interior meters and 310 meters of terrace, as well as a Jacuzzi and private swimming pool. The starting price, according to the dossier, is 9,551,178 euros, which is equivalent to about 20,500 euros per total square meter and exceeds 61,500 euros per interior square meter, the highest level of the entire development. Of this penthouse only one unit is being marketed, which is presented as the most exclusive residence of the complex and oriented with a sea view.
Overall, the brochure figures place Casa Pacha Residences in an approximate range of between 18,700 and 26,400 euros per total square meter, with peaks in excess of 60,000 euros per interior square meter in the highest category penthouses.
Payment terms and minimum 30% down payment
The Casa Pacha Residences brochure sets out a payment plan with two major milestones: 30% plus VAT at the signing of the sales and purchase agreement (SPA) and the remaining 70% plus VAT on completion of the project. This is a classic structure in high-end developments, which obliges the buyer to have a strong initial liquidity to ensure the reservation of the unit and leaves the bulk of the payment linked to the effective delivery of the property in the so-called golden mile of Ibiza.
For international non-EU buyers, the dossier also details the documentation required to close the transaction in Spain: valid passport, foreigner’s identification number (NIE), bank account in Spain, accreditation of funds and the origin of wealth, as well as the signing of the public deed of sale before a notary and its subsequent registration in the Land Registry. The document also mentions the possibility of a Deed of arras for the advance reservation of the unit and the obligation to submit to the Bank of Spain a declaration of investment (form D-2A) when the amount exceeds the amount of the investment. 500,000 euros in the case of non-Spanish resident purchasers.
Restaurant, hotel services and private parking
In addition to these 19 units, the dossier describes a range of services typical of a five-star hotel. The resort is presented as “The Ultimate Sanctuary”, with wellness spa, residents’ pool, 24/7 in-room dining, outdoor fitness center, spacious terraces, private hot tubs and “5 Star” standard housekeeping service, plus furnishings included in the price.
Notable amenities include private parking (although it is unclear how many spaces) and a boutique restaurant.
The formula reinforces the concept of branded residences, residences attached to luxury hotels with services typical of the tourism industry, a model like that of Salt Bae (The N Residences) and in projects of figures such as Abel Matutes Prats and Rafa Nadal on the Costa del Sol. The combination of hotel and residence is a concept familiar to the new owners, the Five Holdings group, as their three hotels in Dubai follow this approach.
Warnings in the commercial brochure
The images show a building with contemporary lines, large windows and stepped terraces with jacuzzis and private pools, in a setting dominated by the marina and the Ibiza skyline. The renderings insist on the idea of a “sanctuary” with abundant vegetation, shaded areas, designer furniture and common areas designed for intensive use by residents.
At the end of the document, the developer includes a legal disclaimer stating that the images, artistic renderings, amenities, interior finishes and the actual dimensions of the homes are approximate and subject to change, without the brochure constituting a binding offer.
