Spain is not only a country with a rich history and culture, but also one of the most attractive destinations for buying real estate.
Features of New Build Properties in Spain
New development projects in Spain have a number of advantages:
- Modern construction technologies. The use of advanced materials and construction methods ensures high quality and durability of buildings.
- Energy efficiency. New houses are designed for better energy savings and reduced operating costs.
- Convenient layouts. Thoughtful spaces that meet modern comfort requirements.
- Developed infrastructure. Many residential complexes include swimming pools, gyms, areas for children and other amenities.
- Guarantees from the developer. When purchasing real estate in Spain from the developer, the buyer receives legal guarantees and service.
Prices for New Buildings in Spain
The cost of new residential projects in Spain varies depending on the region, type of property and area. For example:
- In coastal areas such as the Costa Brava or Costa del Sol, prices for new build properties in Spain start from €2,000 per square metre (m²).
- In large cities such as Madrid or Barcelona, property can be purchased for an average of €4,000–5,000 per m².
- On islands such as Mallorca or Tenerife, prices for luxury properties exceed €6,000 per m².
Buyers can choose from apartments in Spanish apartment buildings, as well as individual villas or townhouses.
Nuances of Buying New Constructions in Spain
When purchasing property under construction in Spain, you should consider:
- Obtaining a foreigner identification number (NIE). A mandatory document for making transactions.
- Opening a bank account in Spain. Necessary for financial transactions.
- Taxes and fees. New housing in Spain is primary and is subject to VAT, which is 10% of the value of the property.
- Mortgage lending. Foreign buyers can count on a mortgage, but the conditions depend on the bank and the financial situation of the client.
- Legal verification. It is recommended to involve a lawyer to check the documents and support the transaction.
Popular Cities and Regions for Purchasing Real Estate in Spain from the Developer
The main developers of Spain operate in the Mediterranean part of the country (Barcelona, Malaga), but in general the range of directions is very wide:
- Madrid. The capital with developed infrastructure and a variety of new buildings.
- Barcelona. A cultural center with modern residential complexes.
- Malaga. A city on the Costa del Sol with a favorable climate and a growing real estate market.
- Valencia. The third largest city in Spain, offering a combination of historical heritage and modern new buildings.
- Alicante. A popular resort city with affordable prices for new housing.
Guides on Buying New Builds in Spain
Frequently asked questions about new buildings in Spain
What are the average prices of new buildings in Spain?
A square meter in new housing in Spain costs on average 3,000 euros. If accommodation is located on the coast of popular resorts or in the heart of cities, the cost per square meter can reach 6,000-7,000 euros.
In what cities new buildings in Spain are the most popular?
Increased demand for apartments in new residential buildings in Spain in popular resorts - Ibiza, the Canaries and Mallorca. Equally in demand is the new housing in Madrid and Barcelona.
What is the advantage of Spain's new residential projects in comparison with the secondary real estate?
The main advantages of new housing: a unique layout and novelty of utilities. New buildings in Spain from the developer also have a larger living space.
How does the purchase of a Spanish new building proceeds and how long does it take?
Foreigners in order to purchase an apartment in a new building in Spain from a developer or owner need to open an account at a local bank and obtain an NIE number. Then you need to book the favorite property, making an advance payment. Then you need to settle with the owner in the notary and obtain the rights to the apartment. The whole process takes about 30-60 days.
