For sale · Costa del Sol · Vélez-Málaga
Available3-Bed Finca for Sale in Costa del Sol East, Vélez-Málaga
€320,000
3 beds · 1 bath · 299 m² built · 3600 m² plot
Ref HT3650831Updated daily · Last sync 23 June 2026
About this property
Overview
Three-bedroom finca in Costa del Sol East, Vélez-Málaga, Costa del Sol, set within 3,600 square metres of land planted with ancient olive trees. This 1945 property centres on a converted olive mill, its 299-square-metre interior retaining the rustic character of its agricultural origins. The salon features an open fireplace with exposed stonework, and the kitchen opens directly into the main living area in traditional Andalusian style.
The three bedrooms share one bathroom across the ground level, with terracotta floors and thick walls that keep rooms naturally cool in summer. The plot extends across terraced land where century-old olive trees still produce fruit each season, their gnarled trunks marking the property's boundary lines. A single parking space sits near the entrance, and the absence of a pool leaves the land largely undeveloped beyond the immediate house footprint. The salon's fireplace serves as the main gathering point, with enough space for a dining table and seating area beneath wooden ceiling beams.
Alcaucín sits 4 kilometres to the north, a white village known for its Moorish castle ruins and position at the base of the Sierra Tejeda. Vélez-Málaga town centre lies 18 kilometres south, accessible via the A-7206 through almond and citrus groves. The coast at Torre del Mar is a 25-minute drive, while the inland terrain here remains largely agricultural, with working farms and scattered cortijos occupying the slopes between the village and the main highway.
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Property details
Specifications
- Property type
- Finca
- Subtype
- Finca - cortijo
- Bedrooms
- 3
- Bathrooms
- 1
- Built area
- 299 m²
- Plot size
- 3600 m²
- Parking spaces
- 1
- Levels
- 1
- Year built
- 1945
- Condition
- Good
- Energy rating
- D
- CO₂ rating
- C
- Area
- Costa del Sol East
- City
- Vélez-Málaga
- Postcode
- 29713
- Province
- Málaga
- Coast
- Costa del Sol
Location
Costa del Sol East, Vélez-Málaga
Map shows the approximate Costa del Sol East, Vélez-Málaga area. Exact address provided upon request. This property is in Vélez-MálagaCosta del Sol.
Nearest beach
10 mindrive
Puerto Deportivo Caleta de Vélez
11 mindrive
Hospital Comarcal de La Axarquía
9 mindrive
Málaga Airport (AGP)
58 mindrive
9 questions answered
Buying this finca in Costa del Sol East
Can foreigners buy property in Vélez-Málaga?
Yes. Spain places no restrictions on foreign buyers, EU and non-EU citizens can purchase freely in Vélez-Málaga. You will need a Spanish NIE (foreigner tax number) before signing the title deed, plus a Spanish bank account for the transfer. The full purchase typically completes 6 to 10 weeks from signing the reservation contract.
What is an NIE and how do I get one?
The NIE (Número de Identificación de Extranjero) is your Spanish tax ID and is mandatory for buying property, opening a bank account or paying taxes. You can apply at a Spanish consulate in your home country or in person in Spain. Your lawyer can also obtain it on your behalf with a power of attorney, typically 2 to 4 weeks.
Do I need a Spanish lawyer?
Strongly recommended. An independent lawyer (abogado), separate from the agent and seller, verifies title, checks for debts and planning issues, drafts contracts and represents you at the notary. Typical fee is 1% of the purchase price plus VAT, with a minimum around €1,500.
How long does completion take?
From accepted offer to keys: 6 to 10 weeks for a resale, 30 to 45 days from reservation if no mortgage is needed. New-build off-plan completes when the development is delivered, often 18 to 36 months after reservation, with staged payments along the way.
What taxes will I pay buying a property in Vélez-Málaga?
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.
What ongoing costs should I expect?
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.
Are agent fees paid by the buyer or seller?
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.
Can non-residents get a Spanish mortgage?
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.
Should I get pre-approval before viewing?
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.
