New build property on the Costa Blanca

How buying a new build works

Usually in three steps: a small reservation deposit, then a contract with the developer and stage payments during construction, and the balance at the notary when the home is finished and you get the keys. Each developer has its own payment schedule — you will find it on the listing and in the contract.

Buying off-plan gives you choice: the floor, the orientation, sometimes the finishes. A key-ready new build means keys straight away, with less choice.

What protects the buyer

Bank guarantee. By law, every payment you make to the developer before completion must be covered by a bank guarantee or insurance. If the home is not built, you get your money back. Check the guarantee before you sign.

Building warranties. Spanish building law gives the buyer of a new home three periods of cover: one year for finishing defects, three years for defects that affect habitability (leaks or insulation, for example) and ten years for the structure. For the ten-year cover the developer must take out insurance.

Buying from the UK

Taxes — Valencian Community rates. On a new build you pay 10% VAT plus 1.4% stamp duty. Notary, land registry and paperwork usually add 0.5–1%. Budget 12–13% on top of the price.

NIE and bank account. You always need an NIE, and we handle it for you. You do not need a Spanish bank account for a new build: you can pay the developer from your UK account. Opening one still makes life in Spain easier, and we can help with that too.

Mortgages. Spanish banks usually lend non-residents up to 70% of the valuation, against 80% for residents. For an off-plan home the mortgage is usually arranged closer to completion.

Residency. Buying does not give you residency: the golden visa was abolished in April 2025. Without a visa, a UK passport holder can stay up to 90 days in any 180.