Buying a New Build Property in Spain: The Complete Guide

Buying a new build property in Spain is far more straightforward than most people expect — but only when someone explains the process properly, in plain English, before you start. That is exactly what this guide does. Whether you are buying a brand new home or an established resale, from Britain, Ireland, the Netherlands, Belgium, Germany, Scandinavia, France, Spain or anywhere else, the steps below show you what happens, when, and what it costs — with no jargon and no surprises.

At SolMar Properties we walk every buyer through this process personally, from first enquiry to key handover and beyond. Read the guide, then bring us your questions — there is no such thing as a silly one.

Spain places no restrictions on foreign buyers: whether you are from the EU, the UK, or anywhere else in the world, you can own Spanish property outright in your own name. You will need an NIE number (a Spanish tax identification number for foreigners) and, in most cases, a Spanish bank account — but do not let either worry you, because your solicitor arranges both as part of the purchase process.

Yes — completely, and with the same ownership rights as Spanish nationals. There are no nationality restrictions on buying property in Spain, whether as a holiday home, permanent residence or investment. The only formal requirement is an NIE number, which your solicitor will obtain on your behalf as part of the purchase process — you do not need to sort this yourself before you start looking.

The Spanish buying process follows a clear, well-established sequence. Here is how it works when you buy with us.

Step 1 — Find the right property. We start by listening to what you want, then show you what genuinely fits — new build or resale, coast or inland. Because we collaborate with all the major developers and other agencies across the Costa Blanca South, you see the full market, not one company’s stock. Browse our New Builds and Resales to get a feel for what is available.

Step 2 — Appoint your solicitor. An independent, English-speaking property solicitor protects your interests throughout: carrying out legal due diligence, checking for debts or planning issues, reviewing every contract before you sign, obtaining your NIE number, helping open your Spanish bank account, and handling tax payments and Land Registry registration after completion. We can introduce you to trusted specialists we have worked with for years.

Step 3 — Reserve the property. A reservation fee — typically €3,000 to €6,000 — takes the property off the market whilst your solicitor does the legal checks.

Step 4 — Sign the private purchase contract. Usually within 30 days of reservation, you sign the private contract and pay the agreed deposit — typically 10% of the purchase price for a resale, or between 10% and 30% for a new build depending on the developer, minus the reservation fee already paid. For off-plan purchases, any further stage payments during construction are set out clearly in this contract.

Step 5 — Complete before the notary. The final deed (escritura) is signed before a Spanish notary, the balance and purchase taxes are paid, the property is registered in your name — and you collect your keys. If you cannot be in Spain for completion, your solicitor can attend on your behalf with power of attorney.

Buying off-plan — reserving a home before or during construction — is one of the most popular routes on the Costa Blanca South, because it usually means the widest choice of plots and layouts, the chance to select finishes, and payments spread across the build rather than all at once.

It is sensible to be clear-eyed about it: like any forward purchase, off-plan carries an element of risk. Spanish law addresses this directly. Every stage payment you make must be protected by a bank guarantee, which legally obliges the bank to refund your money if the developer fails to complete the property as agreed. Your solicitor will confirm the building licence is in place and the guarantee correctly issued before a single euro of stage payment leaves your account. It is also why we only introduce buyers to established developers with strong track records.

It depends on what you buy. A resale or key-ready new build typically completes in around 8 to 12 weeks from reservation. A nearly finished new build completes within weeks or a few months. An off-plan purchase typically takes 12 to 24 months — sometimes longer — depending on how far construction has progressed when you reserve. There is a new build to suit every timetable, so never assume buying new means a long wait.

This is the part of the process where honest numbers matter most, so here they are. The prices you see advertised on portals and websites never include purchase taxes and costs — you must budget for these on top.

For a new build in the Valencia region (which includes the whole Costa Blanca South), you pay 10% VAT plus 1.5% AJD (Actos Jurídicos Documentados), and with notary fees, Land Registry fees and legal fees included, total costs come to approximately 13–14% on top of the purchase price. For a resale, the main tax is Property Transfer Tax (ITP) at 9%, with total costs of approximately 11–12% on top of the advertised price.

Two further things to plan for. If you need finance, Spanish mortgages are available to non-residents, typically up to 70% of the property value — we can refer you to specialist brokers. And if you are buying in pounds, dollars or another non-euro currency, remember the exchange rate at the time of each payment affects the final cost in your home currency; a currency specialist can help you plan for this, particularly on off-plan purchases where payments span months or years.

As a simple rule of thumb for the Costa Blanca South: budget approximately 13–14% on top of the advertised price for a new build (10% VAT plus 1.5% AJD plus fees), or approximately 11–12% for a resale (9% ITP plus fees). Once you own the property, allow for ongoing costs too — annual IBI council tax, community fees, utilities and insurance — which vary by property and municipality; we will give you realistic figures for any home you are considering.

One of the strongest arguments for buying new is what Spanish law builds in behind it. Every new build home carries a three-tier warranty from the developer: one year covering finishing defects, three years covering habitability issues such as waterproofing and installations, and ten years covering structural defects. No resale property comes with anything comparable.

Before completion, we carry out the snagging inspection for you — it is part of our service, not an extra you pay someone else for. SolMar Properties checks your new home room by room before you complete, and if anything is not right — a door that sticks, a tap that drips, unfinished paintwork — we tell the developer, and they put it right at no cost to you before you move in.

Plenty of agencies will show you a property. Our job is to get you safely and calmly to the other side of the purchase — and beyond it. We are a family-run agency, available any day of the week, and we accompany you through every step in this guide: viewings, negotiation, introductions to solicitors and mortgage brokers, translation of anything you do not understand, and a hand to hold at the notary. After you collect your keys, we are still here — for post-sale questions, and with rentals, Airbnb co-hosting and property management if your home will earn its keep whilst you are away.

If you are still deciding where to buy, our area guides are the best place to start — from Guardamar del Segura and El Raso to Orihuela Costa and the golf resorts at La Finca Golf, Vistabella Golf and Las Colinas Golf.

The Spanish buying process rewards good guidance: with the right solicitor, the right agency and honest numbers from day one, buying a new build property in Spain is a well-protected, well-trodden path — and thousands of buyers from across Europe walk it happily every year.

Ready to take the next step? Contact SolMar Properties today — we’ll guide you through every stage of buying your property in Spain. Call us on (+34) 747 462 942 or email enquiries@solmar-properties.com.