Buying a new build in Spain in 2026: a step-by-step guide
Who this is for: For buyers from the UK, Ireland and the rest of Europe buying a new or off-plan home from a Spanish developer. The steps are the same for everyone; the tax depends on the region.
Buying a flat in another country can feel like a leap: a foreign language, unfamiliar law, and money going to a developer you have only seen on a website. Here is how a new-build purchase in Spain actually works, step by step, what it costs, and where to be careful.
The reassuring part first: in Spain, a new-build buyer's money is protected by law. Not by the developer's promise, by law. How that works is in step 5.
In short
Choose the home and check the developer, including the building licence → reserve it (usually €6,000–10,000) → get your NIE → sign the private contract and pay 20–40% → pay the stages, each one guaranteed by a bank or insurer → complete at the notary and collect the keys. On top of the price, allow about 12% for taxes and fees on the Costa Blanca. Non-residents can borrow up to 70% of the bank's valuation. You do not need a Spanish bank account to buy a new build.
Step 1. Choose the home, and check the developer
Two questions here: what you are buying, and who from.
The home is the easy part: town, area, floor, view, budget, completion date. The developer is worth checking before you pay a single euro. How long have they been building, which developments have they handed over, and above all, does the project have a building licence?
That is not a formality. Under Spanish law, the developer's duty to guarantee your payments starts from the moment the building licence is granted. Before that, your payments may not be guaranteed: banks and insurers only issue the guarantee once the licence exists.
Step 2. Reserve the home
To stop someone else buying the home you have chosen, you pay a reservation fee, usually €6,000 to €10,000. The developer takes the home off the market, fixes the price and prepares the contract.
The reservation is part of the price, not an extra. But if you change your mind without a valid reason, it is usually not refunded. So reserve once you have decided, not to buy time to think.
Step 3. Get your NIE
The NIE is the identification number for foreigners in Spain. Without it you cannot buy property, pay taxes or connect electricity and water. You can get it in advance: in person in Spain, at a Spanish consulate at home, or through a representative with a power of attorney. The forms, fees and the three UK consulates are in how to get an NIE number.
You do not need a Spanish bank account to buy a new build. You can pay the developer from your own bank abroad. An account is useful later, for utilities and annual taxes, but there is no need to hold up the purchase for it.
Step 4. Sign the contract and make the first payment
Next comes the private purchase contract. It sets out everything: the home, the price, the payment schedule, the completion date and the specification. Read it carefully, ideally with a lawyer who acts for you, not for the developer.
On signing you pay the first instalment, usually 20–40% of the price minus the reservation already paid. The rest follows the construction schedule.
Step 5. Pay in stages, and how the law protects that money
While the building goes up, you pay in instalments. This is the moment everyone worries about: the money is gone, and the home does not exist yet.
This is where Spanish Law 38/1999, as amended in 2015, comes in. From the moment the building licence is granted, the developer must guarantee every payment you make, by bank guarantee or by insurance. The guarantee covers the full amount paid, including tax, plus legal interest.
If building does not start, or the home is not handed over on time, the order is this: you claim the money from the developer, and if they have not repaid it within 30 days, the claim goes to the guaranteeing bank or insurer. An insurer under a surety policy pays on first demand.
The developer must also pay your money into a separate account, kept apart from its other funds, which can only be used for the construction.
Step 6. Completion at the notary, and registration
The building is finished: the last step. You sign the deed before a notary, pay the balance and collect the keys. The sale is then entered in the Land Registry, and from that moment you are the registered owner. The registration and paperwork are usually handled by a gestoría.
Handover is also the point at which the construction warranties start to run: one year for finishing defects, three for defects that affect habitability, ten for the structure. So inspect the home carefully before you sign, and put any snags in writing. The details are in new-build warranty in Spain.
How much to budget on top of the price
The price in the listing is not the final figure. Taxes and fees come on top, and the tax depends on the region:
| Region | Coast | VAT | Stamp duty |
|---|---|---|---|
| Valencian Community | Costa Blanca | 10% | 1.4% |
| Andalusia | Costa del Sol | 10% | 1.2% |
| Region of Murcia | Mar Menor | 10% | 1.5% |
Add the notary, the land registry and the gestoría. On the Costa Blanca, allow about 12% above the price in total: on a €200,000 flat, that is around €24,000.
Worked examples for all three coasts are in the real cost of buying in Spain, and every rate in taxes and costs when buying property in Spain.
Can you get a mortgage as a non-resident?
Yes. Spanish banks lend to non-residents, usually up to 70% of their own valuation, against 80% for residents. The bank does its own valuation, and if it comes in below the price, the loan is based on the valuation.
So plan on about 30% of the price from your own funds, plus the 12% for taxes and fees.
Rates are linked to the Euribor index and move over time, so the figures are worked out for each purchase. Approval takes a while: start on the mortgage alongside choosing the home, not after. More in Spanish mortgages for non-residents.
Common mistakes
Not checking the licence and the guarantee. A beautiful render tells you nothing about whether the building will be finished.
Forgetting the 12% on top, and finding at completion that the fees are not covered.
Signing the contract unread because it is in Spanish. That is exactly why you need your own lawyer.
Leaving the NIE to the last minute, which can hold up completion.
Expecting a visa from the purchase. The golden visa for property buyers was abolished on 3 April 2025: owning a home in Spain no longer gives the right to live there. UK citizens can stay 90 days in any 180; longer stays need a visa, covered in Spanish visas for UK property owners.
For the whole purchase route, new build and resale side by side, see how to buy property in Spain. We can help you find the right new build: browse our new builds or write to us.