When it comes to buying property in Spain there are many terms that may differ from those in your home country, especially when comparing to the UK. For example in the UK we don’t tend to refer to general sales and ‘resales’ but in Spain that means property that has been owned before.
Other terms you might not be familiar with relate to new properties for sale in Spain. If a project is being offered from the planning stage, before planning permission to build has been granted, it is referred to as ‘off-plan’ property. The overall term is ‘new developments’ but some of these projects are still selling units once the construction has been completed. This is no longer off-plan as you can physically view the property you wish to purchase.
In some cases someone will buy a property (or multiple units) and sell them on after completion without even living in them. although these are new homes, they are still considered resales as they have been owned previously.
The terms are important as there are different fees that relate to the properties. When you purchase a new home direct from the developer, you will need to pay IVA (VAT), whereas it is a different tax on a resale home.
There are many new developments and off-plan projects throughout Spain but one of the most popular areas for this type of property is down on the Costa del Sol.
Over the years many of the new developments were in Marbella but they have stopped giving out so many licenses so the activity has moved down the coast. New developments in Estepona seem to be the most sought after at the moment with luxury homes near to the beach and close to the many golf courses.
There are also some lovely new projects to the east of Marbella in Mijas Costa with some stunning apartments and townhouses in La Cala Golf Resort. Right now is the time to consider looking at New Property Costa del Sol
