New buildings Torrevieja/Alicante

New buildings Torrevieja/Alicante

Over the past five years, new buildings in Spain have increased significantly in price. This means that buying real estate in this country is the most promising financial investment. This is well known to foreigners, who form the main source of demand for housing in new buildings in Spain/Costa Blanca. After all, official sources indicate that more than 70% of transactions were completed only at the beginning of 2023 by foreigners.

Types of Spanish new buildings

New residential buildings in Spain are very diverse. Here you can find any type of housing for even the most demanding buyer. For example:

• classic city skyscrapers;
• detached villas with large plots of land;
• sparsely populated resort complexes with developed infrastructure;
• closed urbanizations of townhouses located outside the city.

The most houses were built in 2022. You can appreciate the variety and appearance of the buildings by opening the catalog of new buildings in Spain/Costa Blanca. It’s not for nothing that Russians have made more than 2,500 transactions over the past six months.

Characteristics of new buildings 2021-2024

The main distinguishing feature of residential real estate built during this period is the minimalist interior design. The apartments are decorated cleanly and quite simply. An environmentally friendly approach to construction with Eco Friendly mode, which can significantly reduce energy consumption. In the same way, the liquidity of real estate increases.

The area of ​​apartments on average varies from 80 to 100 sq.m., and country houses 150-180 sq.m. The most popular design elements of this period were:

• transparent doors on rails, made of glass or high-quality plastic;
• open kitchens (kitchen-living room);
• panoramic glazing.

The designers made every effort to make the space visually filled with air and lightness, as well as to make it as light and wide as possible. These design solutions can also be found using the aggregator of new buildings in Spain. Standard housing types include studios, 1-2-3 bedroom apartments, which have spacious living spaces and an open plan.

Advantages of investing for foreign investors and possible risks

The main advantage is the opportunity to significantly increase your capital by investing in real estate abroad. According to official statistics, Spain is one of the European countries with a rapid and stable increase in house prices. The high profitability of the facilities is maintained due to the regular arrivals of a large number of tourists and expats. Moreover, the purchase of residential real estate in this country is the basis not only for moving to permanent residence, but also for issuing a golden visa, which is still available to Russians.

As for the risks, here they are minimal. The main thing is to obtain complete and reliable information about local laws and the specific location in which you plan to purchase real estate. Information on the latest request can be obtained by reading the catalog of new buildings in Spain, and also by contacting a realtor licensed to work in this region.

Housing Law adopted in Spain in 2023

This is a relatively new law that should not be ignored even though it may seem somewhat controversial. Judge for yourself:

Additional tax and penalties. Now, even on empty housing that is not rented out without a good reason, municipalities have the right to collect taxes. Moreover, the owner may receive a fine of up to 150% of the property tax amount.

Control and regulation of rental rates growth. The long-term contract limits the rate increase (no more than 3%), however, from 2025 a new indexation system will be introduced.

Control over rental stress zones. This concept includes regions with high rents, which exceed the threshold of 30% of family income. This system will be applied when concluding rental contracts from 2024.

Despite the ambiguity of the law, many support it, citing the fact that it can eliminate a number of problems that arise with long-term rental housing. But there are those who disagree, arguing that such conditions will lead to an increase in prices for new buildings in Spain, and will also minimize the number of profitable offers on the housing market.

What you need to know about real estate activities in Spain

The country has developed and is successfully practicing an effective law regulating transparency in the residential real estate market. This means that foreign buyers can be confident that:

• the realtor has insurance for civil liability;
• has no criminal record;
• confirmed his qualifications
• has an offline office, where when you visit you can see the catalog of new buildings in Spain.

This list includes realtors who have passed mandatory registration and have the appropriate license. Document numbers can be checked both on the website and in the real estate agent’s office.

Advantages purchasing real estate abroad

If you nevertheless decided to make a promising financial investment in real estate abroad and your choice fell on Spain, most likely you were guided by the following criteria: developed tourism; friendly natives; a large number of sunny days a year; beautiful views from almost anywhere in the country.

You have made the right choice, since many foreign investors prefer to invest in new buildings in Spain, especially if the deal was finalized during the construction phase. After all, finished housing will be quite easy to sell for a high price.

What to choose: secondary market or new building?

Resales usually cost an order of magnitude cheaper, but new buildings have a lot of advantages that are really worth paying for. These include:

1. new infrastructure, made using higher quality and modern materials;
2. mortgage or installment payment;
3. modern interior layout;
4. low utility bills.

And the most important thing in new housing is maximum protection from scammers, called squatters in Spain. They monitor apartments that have been empty for a long time and then move into them without permission. Due to the peculiarities of Spanish laws, it is sometimes almost impossible to evict such self-settlers. New buildings are well protected in this regard, as they are equipped with video surveillance and provided with security.

Qualification of residential real estate in Spain

Also, a special feature of Spain is the fact that there are truly unique types of real estate here, for example:

Masia. A real castle in miniature. Often found in the mountains or on the seashore. A distinctive feature from classical buildings is the presence of one or more towers.

Bungalow. A classic one-story house consisting of several bedrooms, a veranda and a spacious living room. Often, the local area unites several of these buildings, serving as a common recreation area for residents. It has a barbecue area, a mini bar and a swimming pool.

Finka. A small building in the form of a classic house, distinguished by the presence of a spacious plot. Often used by farmers as temporary or seasonal housing.

Chalet. Cottage located in the mountains or on the outskirts of the city. has a closed area.

Since tourism is significantly developed in Spain, villas with sea views are in great demand among buyers and renters. After reviewing our catalog of new buildings in Costa Blanca Spain, you can choose residential property in a good area with developed infrastructure. Moreover, you can view the property you like in more detail online, in real time. And with the help of video communication, you can even explore the surrounding area. Each object presented in our aggregator of new buildings in Spain has a technical plan and detailed photographs.

How is transaction security ensured?

New residential buildings located by the sea in a tourist-developed country are selling out quite quickly. In addition, developers often organize promotions and offer various bonuses. Due to the high demand in the real estate market, there is a danger of being deceived by an unscrupulous seller. To protect foreign investors, Spain has adopted a whole range of measures, so the transaction algorithm is as follows:

Selection of an object by a potential buyer.

1. Conclusion of a preliminary agreement with a detailed description of the main points of the transaction.
2. Posting a deposit. The buyer pays a certain amount, which is no more than 30% of the cost of the property.
3. The developer removes the subject of the transaction from sale.
4. Payment of the remaining amount occurs after completion of construction.

The approximate period from concluding a preliminary contract to final payment is 1.5-2 years. This is a relatively short period of time, since practically no skyscrapers are built in Spain, therefore, you will not have to wait 5 or more years for the delivery of housing.

You can also purchase housing in a new building on the Costa Blanca in Spain using a mortgage. There is a special escrow account for this. Mortgage lending is carried out as follows: the developer opens a separate bank account and concludes an agreement with the buyer. The participant in the transaction purchasing the property makes monthly payments to the developer’s account. In this case, the client is fully insured against theft of funds by an unscrupulous developer, since withdrawal of money from the escrow account is possible only after the completion of construction of the project. In the event of a sudden cessation of construction work, the money is returned to the buyer in full.

Calculation of the cost of housing in new buildings in Spain

Any transactions concerning real estate take place with the participation of a realtor. Also, it will be necessary to pay for the services of a notary, who not only certifies, but also draws up both agreements: preliminary and main. Document translation services will also be required.

When buying a home in Spain, you will need to confirm your income with a 2-NDFL certificate, baNKV extracts, contract of purchase and sale of housing. Remember, any document must be translated and certified by a notary.

Also, you will need to pay the developer AJD (we call it VAT), which is no more than 10% of the total cost of the residential property. And 1% stamp duty is also paid by the client.

Features of mortgages for foreigners

Banks are willing to provide loans for the purchase of housing in new buildings in Spain. This is certainly a convenient option for purchasing a home, but it is worth remembering that it incurs a number of additional costs. For example:

• there will be an additional series of taxes that must be paid, since the rate is based on calculations of the total mortgage amount plus interest;
• it is necessary to use and pay for the housing assessment service (400-500 euros);
• you will need to prove your solvency, ideally by having a job in Spain, where you have worked for more than 4 years;
• take out mandatory insurance, the cost of which varies from 100 to 200 euros annually;
• the amount of the down payment must be at least 40%.

To increase the chances of approval and facilitate the search for a worthy property, you should contact a broker, who often cooperates with managers of several banks.

Using the catalog of new buildings in Spain, Costa Blanca, you can easily select a property to suit any budget and any tasks. This is where new buildings in Spain are presented in various price segments. New buildings in Spain are in great demand for almost any category of citizens: retirees, freelancers, students who want to rent housing near the university. Purchasing a home and then renting it out is a truly promising investment that can pay off within a few years.