New Developments in Istán

Istán sits above the Costa del Sol, a mountain pueblo where new developments are sold months or years before they are finished. You reserve early, make staged payments as construction progresses, and take the keys once the building is complete. Each payment before handover must be secured by a bank guarantee or insurance policy, which protects your money if the developer cannot finish. Ask for proof of the guarantee in writing before you transfer any deposit.

Buying off-plan in Istán means paying VAT and stamp duty rather than transfer tax. VAT applies because you are buying from a company that built the home, and stamp duty covers the purchase deed. The exact rates depend on the region and should be confirmed with your adviser, but both taxes are additional to the price and are due at completion. A resale buyer would pay transfer tax instead, so budget for the right regime.

Before the developer can hand over keys, the town hall must sign the building off as fit to live in. The council sends inspectors to check that the work matches the approved plans and that services such as water and electricity are connected. This sign-off is a legal requirement and only the town hall can issue it, never the developer or the bank. Waiting for the council is the usual reason a completion date moves, so allow time.

Once the town hall has given its approval, you arrange a final inspection with the developer. Walk every room with a checklist, test the taps and the windows, and write down anything that is unfinished or damaged. The developer must fix the items on that list before you accept the property. Spanish law then holds the builder liable for one year on finishes such as paint and tiling, three years on things that affect living in the home such as damp or insulation, and ten years on structural defects.

Many developments in Istán are in urbanisations rather than the historic centre, and sea views are common because of the altitude. Check what the scheme includes: some have a community pool or gardens, others are a handful of villas with no shared facilities. The location affects how quickly you can reach the coast or the larger towns, so visit the site and drive the route at different times of day.

When you assess a scheme, look up the company behind it. Ask for the developer's name and registration number, then check the land registry record to confirm they own the land. A developer with a track record of delivered projects is less of a gamble than one building for the first time, but the bank guarantee matters more than the brand. That guarantee is your safeguard if the company fails, so verify it is in place before you commit. Your lawyer can request a copy from the developer and confirm it covers the full amount you will pay before completion.

Off-plan buyers in Istán often choose new developments because they want a home built to current standards, with better insulation and more efficient layouts than older stock. You also have some say over finishes if you reserve early enough, though the options are usually limited to kitchens, bathrooms and flooring. The trade-off is the wait and the uncertainty over the final delivery date, which can shift if the town hall takes longer to inspect or if the builder encounters delays. Resale homes are available immediately and you know exactly what you are buying, but the finish and the layout reflect when they were built.