Off-Plan Properties
For Sale in Costa del Sol

Absolutely. Spain has no restrictions on foreign property ownership. You will need an NIE (Numero de Identificacion de Extranjero, a Spanish tax identification number), a Spanish bank account, and ideally a Power of Attorney for your solicitor. The process is straightforward and we guide international buyers through every step, including NIE applications and mortgage arrangements.

The main risks are developer insolvency (mitigated by mandatory bank guarantees), construction delays, and the property not matching the promised specifications. We reduce these risks by only listing projects from developers with a proven track record, verified planning permissions, and bank guarantee certificates in place. All purchases should be handled with an independent bilingual solicitor.

Typically, you need 30% of the purchase price during construction (paid in stages), plus approximately 12 to 13% in purchase taxes and legal fees (10% IVA, 1 to 2% stamp duty, and legal/notary costs). The remaining 70% can be financed via a Spanish mortgage, with non-resident buyers typically eligible for up to 60 to 70% LTV.

From reservation to completion, most off-plan developments take 18 to 36 months. Some near-completion projects can complete in as little as 6 to 12 months. During this period you make staged payments, and our team keeps you updated on construction progress and milestones. The legal completion process itself (once the building is finished) typically takes 4 to 6 weeks.

When buying a new-build or off-plan property in Spain, you pay 10% VAT (IVA) on the purchase price, plus 1.5% Stamp Duty (AJD - Actos Juridicos Documentados). On top of this, budget for legal fees (around 1%), notary and land registry fees (around 0.5 to 1%), and your NIE/solicitor costs. In total, allow for 12 to 14% of the purchase price on top of the agreed property price.

Yes. Most major Spanish banks offer mortgages to non-residents. For off-plan purchases, the mortgage is typically arranged to complete at the time of handover. Non-residents can usually borrow up to 60 to 70% of the purchase price or valuation. You will need to provide proof of income, bank statements, and a clean credit history. Our team can connect you with specialist mortgage brokers who work with international buyers.

While it is not a legal requirement, hiring an independent Spanish solicitor is strongly recommended and considered best practice for all property purchases. Your solicitor will conduct due diligence on the developer and planning permits, review the purchase contract, verify that bank guarantees are in place, handle the NIE application, and represent you at notary on completion day. Legal fees are typically 1% of the purchase price and are a worthwhile investment.

The Spanish Golden Visa grants residency rights to non-EU nationals who invest at least 500,000 EUR in Spanish real estate. The visa is available for individual properties or a combination of purchases totalling that threshold. It allows you, your spouse, and dependent children to live and travel freely within the Schengen Area. Note that as of early 2025, the Spanish government announced plans to review the Golden Visa programme, so buyers should seek up-to-date legal advice before purchasing specifically for this purpose.

Under Spanish law, all stage payments made towards an off-plan purchase must be covered by a bank guarantee or insurance policy issued by a licensed Spanish bank or insurance company. If the developer becomes insolvent and cannot complete the project, you have the right to reclaim 100% of your payments plus interest by making a claim against the bank guarantee. This protection is mandatory and one of the key safeguards that makes buying off-plan in Spain significantly safer than in many other countries.