The real cost of buying a new-build on the Costa del Sol
The asking price is not the final cost. On a new-build in Spain, the buyer pays VAT (IVA) at 10% of the sale price — not the transfer tax that applies to resale properties. On top of that come the notarised deed (around 0.5%–1%), land registry fees (0.1%–0.5%) and the fees of an independent solicitor, typically 1%–1.5% of the purchase price. Budget for an additional 12%–13% on top of the purchase price — a consistent rule regardless of the municipality.
Foreign buyers must obtain a NIE (Número de Identificación de Extranjero) before signing any deed. This tax identification number can be obtained through the Spanish consulate in your country of residence, or directly in Spain at a Comisaría de Policía. Processing times vary from a few days to several weeks depending on the time of year.
Off-plan or key-ready: two distinct buying approaches
New-build projects currently on the market on the Costa del Sol fall into two categories. An off-plan purchase lets the buyer lock in today's price with a staged payment structure — typically 10% at reservation, a further 20%–30% in instalments during construction, and the balance on completion. Under the framework that replaced Ley 57/1968 (the LOE), all stage payments made before completion must be covered by a bank guarantee or insurance policy. Request that document before transferring any funds.
A key-ready property lets the buyer inspect the finished unit, assess the finishes and move in without any waiting period. The trade-off is that material or layout customisation is generally no longer possible, and pricing may reflect a premium for immediate availability.
Ocean Garden — Fuengirola
Ocean Garden is located in Fuengirola, a coastal town roughly 30 km west of Málaga served by the Cercanías suburban rail line from the airport in under 30 minutes. The development offers ground-floor garden apartments, standard apartments and penthouses with 2–3 bedrooms, all with a pool. Prices range from €370,000 to €573,000, making this one of the more accessible entry points among new-build projects currently available on this stretch of coast.
Solana Village G Sur — Mijas
Mijas is a municipality that takes in both a hilltop village and the seafront area of Mijas Costa, around 10 km from Fuengirola. Solana Village G Sur offers ground-floor garden units, apartments and penthouses with 2–3 bedrooms, with a pool. Prices run from €445,000 to €670,000. The breadth of configurations makes the project relevant both as a primary residence and for seasonal rental use — summer occupancy rates on the Costa del Sol are high in this price bracket.
Looa Estepona — Estepona
Estepona sits around 80 km west of Málaga and 20 km east of Gibraltar. The town has seen sustained new-build activity since 2018, with supply concentrated along the Nueva Milla de Oro golf corridor. Looa Estepona offers 3-bedroom apartments and penthouses with a pool, priced between €513,000 and €584,000. The narrow price spread points to a development with consistent unit sizes and specification throughout.
Banus 1 (SV1458) — Marbella
Marbella is the established benchmark for the upper end of the Costa del Sol market. Banus 1 is a 3-bedroom apartment in Marbella priced at €2,950,000. At this level, buyers should verify the property's urban planning status (licencia de primera ocupación), the legal standing of the owners' community and the annual community charges — checks that only a solicitor acting exclusively for the buyer can carry out independently.
Green 10 Villas - Finca Cortesín — Casares
Casares is an inland municipality a few kilometres north of Estepona, home to the Finca Cortesín golf estate, which ranks among Europe's leading courses. Green 10 Villas offers 5–6 bedroom villas within this setting, with prices between €4,600,000 and €5,000,000. This segment attracts buyers who prioritise privacy, large floor areas and proximity to a private golf course over quick beach or town-centre access.
Key steps in the purchase process
Once a property is selected, the process typically follows this sequence: signing a reservation contract (contrato de reserva) with a deposit of €3,000–€10,000; signing the private purchase contract (contrato privado de compraventa) with a first instalment; and finally signing the title deed before a notary (escritura pública) with payment of the balance. From reservation to deed, allow 4–12 weeks for a key-ready property, or the remaining construction period for an off-plan purchase.
Opening a Spanish bank account simplifies transfers and is often required by the notary for the final payment. Several Spanish banks offer this service remotely for non-residents, subject to proof of identity and address.
