New Developments
Our New Developments section is growing by the day, as the Costa del Sol is once again one of the most desirable places in Europe to own property and foreign buyers are arriving in huge numbers. We list new developments every week, the majority having been built in a contemporary, open-plan style, ideal for life in Southern Spain’s warm climate and offering an expansive feeling of space. Some of the projects are contained in finished developments which are receiving renewed publicity to sell the final phases and/or units.
Spain has changed and learned from its mistakes, so now the process of building a New Complex, is highly controlled and the next step can't be taken before the previous one has been satisfactorily fulfilled.
By Spanish law, the developer must either have a *) Bank Guarantee or an *) Insurance in place before being granted a Building Licence. This means that, when a project has a Building Licence, consumer protection is in place and has been checked by the local town hall.
By Spanish law, the deed can only be issued when the complex has received the First Occupation Licence. This means you or your legal representative cannot visit the notary before the First Occupation Licence is in place to pay the last payment, which typically represents 70% of the value of the property.
So now, as a buyer of "Off-Plan Developments", you can be sure your investment is safeguarded, and you will be refunded in case of mishaps.
*) Bank Guarantees and Insurance both protect the consumer, meaning the funds they have paid to the developer, in case of bankruptcy or an unfinished project, are safeguarded.
Prices and availabilities can be subject to changes without notice.
