New builds in Torrevieja

How your money is protected

Spanish law requires the developer to guarantee the return of everything you pay before handover. The guarantee is a bank guarantee or an insurance policy, and it covers all amounts paid, with taxes and legal interest, in case the building is not started or not finished by the date in the contract.

The obligation begins once the developer has obtained the building licence. So before your first payment, check that the licence has been granted and that a guarantee has been issued for your payments.

How the purchase works

You first reserve the property, usually with €6,000–10,000. You then sign a private contract with a first payment of 20–40% of the price. Further payments follow the construction schedule, and the balance is paid at the notary on handover of the keys.

You do not need to fly out for every step: viewings are done by video and the deed can be signed under power of attorney.

Taxes

Torrevieja is in the Valencian Community. A new build bought from the developer pays 10% VAT plus 1.4% stamp duty, for deeds signed from 1 June 2026. Notary and land registry fees come on top. Allow around 12% above the price in total.

Running costs

Most new builds here are gated developments with a pool and shared grounds, so there are monthly community fees — usually €40–120. On top come the IBI property tax, refuse collection, utilities and insurance.

Buying as a UK citizen

Since Brexit, UK citizens are non-EU buyers. You can buy property in Spain; what changed is how long you can stay — up to 90 days in any 180 without a visa. Owning a home does not give you residency: Spain abolished the investor "golden visa" on 3 April 2025.

You will need an NIE, a foreigner identity number — apply at a Spanish consulate in the UK, or in Spain through a representative with a power of attorney. Spanish banks typically lend non-residents up to 70% of the valuation.