Spain has been attracting investors from all over the world for years thanks to its climate, beautiful landscapes and developed real estate market. Properties in the developer's condition are particularly popular, as they offer modern architectural solutions and the possibility of adapting the interiors to your own needs. If you are considering buying such a property in Spain, it is worth knowing a few key aspects of this process.

What is developer's condition in Spain?

In Spain, developer's condition (Spanish: obra nueva) means a property that is newly built and has not yet been inhabited. Such apartments or houses can be sold:

• In a closed shell state - ready from the outside, but without interior finishing.

• Turnkey - fully finished, often with the possibility of choosing the finishing from the available options.

Developer's condition in Spain is different from that in Poland, because it often includes finishing bathrooms, kitchens and electrical and plumbing installations.

Why is it worth buying a property in the developer's condition?

1. Modern technologies and standards

New buildings are designed taking into account the latest standards of energy efficiency and comfort of use. You can count on good thermal and acoustic insulation, which is especially important in the Spanish climate.

2. Possibility of personalization

When buying a property at the construction stage, you can often influence the layout of the rooms, choose finishing materials or add additional amenities, such as a swimming pool or a smart home system.

3. Developer's guarantee

Spanish law obliges developers to provide a guarantee for new buildings. It usually covers:

• 1 year for interior finishing,

• 3 years for installations,

• 10 years for the structure of the building.

What does the purchase process look like?

1. Reservation of the property

Usually, a reservation deposit is paid, which is from 3% to 10% of the property value.

2. Signing a preliminary contract

The contract specifies the payment schedule and construction completion dates. It is worth paying attention to the provision on the return of the deposit in the event of delays due to the developer's fault.

3. Final contract and property acceptance

After the construction is completed, you sign a notarial deed (escritura pública), which makes you the owner of the property. At this stage, you pay the remaining part of the price.

Additional costs when buying a property in Spain

When buying a new property, you need to take into account additional costs, which can amount to around 10-15% of the purchase price:

• VAT (IVA) - 10% for residential properties,

• Civil law transaction tax (AJD) - 1.5% to 2%, depending on the region,

• Notary and registration fees,

• Lawyer's fees (recommended for document verification).

What to look for when choosing a developer?

1. Check the history and opinions about the developer.

2. Make sure that the investment has all the necessary building permits.

3. Pay attention to securing the advance payments - according to the law, the developer must keep them in a separate account.

Summary

Buying a property in a developer's condition in Spain is a great opportunity to invest in a comfortable and modern apartment in one of the most beautiful countries in Europe. However, remember to carefully check the developer, the contract and additional costs. A well-planned purchase process will allow you to enjoy your dream home in sunny Spain for many years.

Please contact us if you need additional information or support in buying a property!