New Developments in Fuengirola

Buying off-plan in Fuengirola means signing a reservation contract before construction finishes, then paying in stages as the building goes up. The developer must secure each payment with a bank guarantee or insurance policy, so if they fail to complete, you get your money back. This is a legal requirement, not an optional extra. Before you transfer any money, ask to see proof that the guarantee is in place and confirm the insurer or bank named on it.

You pay VAT and stamp duty when buying from a developer, not the transfer tax charged on a resale. VAT applies to the purchase price and stamp duty to the deed. The rates depend on the region, so confirm the percentages with your lawyer before budgeting. A cash buyer pays stamp duty just as a borrower does, because the duty falls on the purchase deed whether or not you take out a mortgage.

Completion timing depends on how far along construction has progressed when you reserve. A scheme may be sold while still a hole in the ground, or it may be weeks from handover. Developers give an estimated completion date, but the actual date is set by the town hall. Before the developer can hand over keys, the town hall must sign the building off as fit to live in. Only the town hall can issue that sign-off, and waiting for it is the most common reason a date slips. Build in a buffer if you need to coordinate a sale, a lease end or school terms.

Before you accept the keys, you walk through the property with a representative from the developer and compile a list of any unfinished work or defects. This final inspection is your chance to flag anything that needs fixing, from a cracked tile to a door that sticks. The developer should address the items on the list before or shortly after handover. Spanish law then holds the builder liable for one year on finishes, three years on faults that affect living in the home such as damp or poor insulation, and ten years on structural defects.

Fuengirola's new-build stock sits mostly in the town itself and in Los Pacos. Many developments are close to the beach, the marina, the port, shops and schools, with properties positioned to capture sea views. Urbanisation schemes are common, offering shared pools, gardens and parking. The supply is almost entirely off-plan, so you are buying a home that has not yet been completed. That brings a longer wait than a resale purchase, but it also means you choose finishes, you pay in stages rather than all at once, and you move into a property no one has lived in before.

When you compare off-plan with resale, consider the trade-offs. A resale home is ready now, you see exactly what you are buying, and completion can happen in weeks. An off-plan purchase means waiting months or longer, and you are buying from plans and specifications rather than bricks you can touch. But a new build comes with modern layouts, current energy standards, and that ten-year structural warranty. You also spread the cost over the construction period instead of finding the full sum on one completion date.

Before you commit to a scheme, check who is behind it. The developer's name appears on the reservation contract, and that name is usually a special purpose company set up for this one project. Look up the parent company and find out what else they have built. A track record of delivered schemes in the area tells you more than a brochure. Ask other buyers in completed developments about their experience, and search for any complaints or delays. The bank guarantee protects your deposits if the company folds, but you would still rather buy from a developer who finishes on time and builds to the specification they sold.