New development · Costa del Sol · Benalmadena

ÓLEO

€725,000 to €1,790,000

2 to 3 beds · 109 to 192 m² built · Est. completion 2028-05-01

Ref HT5287399

Updated daily · Last sync 2026-06-14T21:50:32.050517+00:00

About this property

Overview

ÓLEO is a new development of 2 to 3-bedroom middle floor apartments for sale in Benalmadena, Costa del Sol, priced from €725,000 to €1,790,000. The project comprises 42 units positioned in the Carvajal district, a coastal pocket of neighbouring Fuengirola that sits administratively within Benalmadena municipality. This location detail matters for buyers comparing price per square metre across the two towns, as Carvajal properties often trade at a discount to central Fuengirola while offering direct beach access. The development's scale, modest by Costa del Sol standards, suggests individual attention during the build phase and a manageable community once completed.

Built sizes range from 109 to 192 m² across the two and three-bedroom configurations, with all units featuring two bathrooms and private terraces. The supplier description emphasises open views and architecture designed to maximise natural light, a practical consideration given that middle floor apartments can suffer from limited exposure in denser coastal developments. A communal pool is confirmed. Parking allocation is not specified in the available data, so buyers should clarify garage or surface space entitlement before reservation. The design approach appears to prioritise horizontal space and outdoor living area over vertical stacking, which typically results in lower plot density and more generous terrace dimensions.

Carvajal beach is accessible on foot from the development, with Fuengirola's main promenade and marina approximately 3 kilometres east along the coast road. The area attracts a mix of northern European second-home buyers and Spanish families seeking year-round residence outside the higher-density zones of Fuengirola and Benalmadena Costa. The neighbourhood lacks the commercial intensity of central Fuengirola but offers direct train access via the Carvajal station on the C-1 commuter line to Malaga airport, a 23-minute journey. Road access involves navigating the A-7 coastal highway, which experiences congestion during summer months and Friday evenings. The immediate surroundings are low-rise residential with limited walking-distance amenities, so a car remains essential for most buyers despite the train link.

ÓLEO appears to be an off-plan or early-stage construction project based on the marketing language and lack of completion date in the supplied data. Standard Spanish new build payment structures apply: a reservation deposit to secure the unit, stage payments tied to construction milestones, and a final balance on completion when keys are handed over. All amounts and schedules must be confirmed directly with the developer, as terms vary by project and can be negotiated during quieter sales periods. Independent legal representation is essential, particularly for buyers unfamiliar with Spanish off-plan contracts and bank guarantee requirements. The price positioning, starting above €700,000 for a two-bedroom apartment, places ÓLEO in the upper segment of the Benalmadena market, where buyers should verify comparable sales and realistic rental yields if purchasing for investment.

Features

What this home includes

  • Pool
  • Private garden
  • Sea view
  • Beachside

Property details

Specifications

Reference
HT5287399
Property type
Middle Floor Apartment
Bedrooms
2 to 3
Bathrooms
2
Built area
109 m² to 192 m²
Terrace
26 m² to 102 m²
Price range
€725,000 to €1,790,000
Completion
2028-05-01
Pool
Yes
Garden
Yes
Beach side
Yes
Sea view
Yes
Area
Carvajal
City
Benalmadena
Coast
Costa del Sol

What's Nearby

Playa de Torreblanca
8 minwalk
Golf Benalmadena Pitch& Putt
14 mindrive
Puerto Deportivo de Fuengirola
9 mindrive
The British College
9 mindrive
Colegio de Educación Infantil y Primaria Valdelecrín
5 mindrive
Supercor
4 mindrive
Mercadona
5 mindrive
Lidl
6 mindrive
Hospital Vithas Xanit International
15 mindrive
Farmacia Jiménez Ortigosa
7 minwalk
Centro Idea
9 mindrive
Fuengirola
10 mindrive
21 restaurants & bars
within 12 minwalk
Málaga Airport (AGP)
34 mindrive
Beachside, south of the coastal road (A-7), close to the Mediterranean.

Location

Carvajal, Benalmadena

Location shown is the development site. This development is in CarvajalBenalmadenaCosta del Sol.

ÓLEO sits on the sea side of the AP-7 in Carvajal, just 646 metres from Playa de Torreblanca. The beach is an 8 minute walk away. Málaga Airport is 15km south, a 34 minute drive for easy arrivals and departures. Fuengirola town centre is 10 minutes by car, offering shops, bars and restaurants. Families will find Colegio de Educación Infantil y Primaria Valdelecrín nearby at 5 minutes drive, while golfers can reach Golf Benalmadena Pitch & Putt in 14 minutes. This location works best for families wanting beach access and convenient airport connections, or buyers seeking a holiday base close to local amenities.

18 questions answered

ÓLEO: Frequently Asked Questions

ÓLEO offers 2 and 3 bedroom apartments ranging from €725,000 to €1,790,000, with built sizes between 109 and 192 m². All units come with sea views, access to either a private or communal pool depending on the apartment type, and many include a private garden. The price covers the apartment itself fully finished and ready to move into.

ÓLEO is situated in Carvajal on the Costa del Sol, in a beach-side location that puts you steps from the Mediterranean. You're in one of the coast's most accessible areas, with local restaurants, shops, and services within walking distance, plus easy access to larger towns and amenities along the coast.

Yes, all apartments at ÓLEO feature sea views as standard. Depending on which unit you choose, you'll have access to either a private garden or communal pool facilities, giving you outdoor space to enjoy the coastal lifestyle that ÓLEO offers.

ÓLEO stands out for its direct beach-side positioning combined with flexible accommodation options, from compact 2-bedroom units at €725,000 to spacious 3-bedroom apartments up to €1,790,000. The mix of private gardens and communal pools, plus guaranteed sea views across all units, sets ÓLEO apart in Carvajal.

ÓLEO is expected to be completed in May 2028, so you're looking at a mid-term investment with time to plan your move to the Costa del Sol. This timeline gives you the opportunity to secure your apartment now while the project is still in its early phases.

Buying off-plan in Carvajal means reserving a property before or during construction. You pay a reservation deposit (typically €6,000 to €12,000), then sign a private purchase contract within 30 days and pay a further 10 to 20% of the purchase price. Staged payments follow the construction milestones. The final 60 to 70% is paid at notary completion when the keys are handed over.

Under Spanish law (Law 57/1968 and its 2015 successor), all off-plan deposits must be covered by a bank guarantee or insurance policy. Your lawyer must verify this before you pay any money. If the developer fails to deliver, you can claim 100% of your deposit plus 6% annual interest. Never transfer funds without a confirmed guarantee in your name.

Spanish law mandates three tiers: a 10-year structural guarantee (Seguro Decenal) for serious structural defects, a 3-year guarantee for habitability issues (waterproofing, insulation, installations), and a 1-year guarantee on finishes and fixtures. These run from the date the licence of first occupation (licencia de primera ocupación) is issued.

New-build purchases are subject to 10% IVA (VAT) on the purchase price, plus 1.2% AJD (stamp duty) in Andalucía. Parking spaces or storage sold separately may attract 21% IVA. Add notary, land registry and legal fees (1 to 2%), budget 12 to 15% on top of the purchase price in total acquisition costs.

Most developers allow personalisation during the early construction phase, choices of floor tiles, kitchen units, bathroom fixtures, paint colours and sometimes layout tweaks. The window for changes is typically 3 to 6 months after signing the contract. Structural changes are rarely possible once work has started. Your sales representative will provide a customisation deadline and specification sheet.

Typical build time in coastal Spain is 18 to 30 months from licence grant to completion. Delays of 3 to 6 months are common due to weather, supply-chain or permit issues. Your contract should specify a longstop completion date and the compensation you are owed for any overrun. Always check whether the building licence has already been granted before reserving.

Key due-diligence points: (1) confirm the building licence is granted, not just applied for; (2) verify all deposits are bank-guaranteed in your name; (3) check the developer's track record and financial standing; (4) review the specification sheet and what is included in the price; (5) confirm the estimated completion date and longstop clause; (6) have an independent Spanish lawyer review the contract before you sign anything.

Yes, both are required before the final notary signing. You can reserve with a passport, but your Spanish NIE (foreigner tax number) is needed for the private purchase contract and your Spanish bank account for the staged transfers. Your lawyer can obtain your NIE with a power of attorney in 2 to 4 weeks. Open the bank account on your first trip to Spain or remotely via certain Spanish banks.

Yes. Spanish banks lend to non-residents at typical LTVs of 60 to 70% of the lower of purchase price or valuation (vs 80% for residents). Rates are competitive with the rest of the eurozone. You will need 6 months of bank statements, tax returns and proof of income, pre-approval takes 2 to 4 weeks.

Recommended for serious buyers. A mortgage in principle confirms your budget, signals credibility to sellers and shortens completion. We can introduce you to specialist non-resident mortgage brokers familiar with the local market.

Resale property in Andalucía: ITP (transfer tax) at 7%. New-build: 10% IVA + 1.2% AJD (stamp duty). Plus notary, land registry and legal fees of roughly 1 to 2%. Budget 10 to 13% on top of the asking price for total acquisition costs.

Annual IBI (council tax) is typically 0.4 to 1.1% of cadastral value. Community fees on apartments and gated villas range €100 to €600/month depending on amenities. Non-resident owners pay an annual income tax based on cadastral value, plus utilities and home insurance.

In Spain the seller pays the agent commission (typically 3 to 6% + VAT), already baked into the asking price. Buyers do not pay agent fees on resale or new-build.

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ÓLEO

Benalmadena · From €725,000 · 2 to 3 beds · Completing Q2 2028

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