Buying a new-build property in Spain: guarantees, payments and handover of keys (2026)
Most of the houses and apartments we sell in Spain are new-build properties bought straight from the developer. The buyer often pays deposits before the building even stands. Spanish law provides specific safeguards for such a situation, but you have to take care of them before the first payment.
What the purchase looks like step by step
- Reservation agreement (contrato de reserva): a small payment that takes the property off the market for a set time.
- Purchase and sale agreement (contrato de compraventa) with a schedule of payments during construction.
- Notarial deed (escritura) signed before the notary after construction is completed, together with payment of the rest of the price.
- Handover of keys and registration of the buyer in the land register (Registro de la Propiedad).
The payment schedule depends on the developer and the stage of the project, so always read it in the contract, not in the advertising brochure.
Guarantee for deposits: aval or seguro de caución
A developer who accepts money before construction is completed is obliged to secure its return together with statutory interest in case construction does not start or is not completed on time. This follows from the Spanish Building Act (Ley 38/1999, LOE). The security is a bank guarantee (aval) or a surety insurance (seguro de caución).
Two important rules from case law: the guarantor pays on first demand, and the fact that the developer did not pay the premium cannot harm the buyer. In practice:
- do not pay any deposit without a guarantee document covering the whole amount, the interest and the period up to the delivery date,
- pay only into the account stated in the contract and held in the developer’s company name,
- keep a copy of the guarantee together with the contract.
The developer’s liability and the 10-year insurance
The LOE sets out how long the developer is liable for defects: 1 year for finishing defects, 3 years for defects affecting the use of the property and 10 years for structural damage. For these ten years, insurance (seguro decenal) is mandatory for residential buildings. Ask the developer for the policy number and the name of the insurer.
Documents at handover
Before signing the deed at the notary, ask for:
- the first occupation licence (licencia de primera ocupación),
- the certificate of completion of construction (certificado final de obra),
- the building book (libro del edificio),
- the energy certificate,
- confirmation of the 10-year insurance.
At the handover of keys, inspect the apartment with a snagging list and report any defects to the developer in writing.
Costs of buying from a developer
For a new property you pay 10% VAT (IVA) and AJD stamp duty, which depending on the region is about 1–1.5%. Together with the notary and the entry in the register, total costs are usually about 12–14% of the price.
What to pay attention to before signing
- An extract from the land register (nota simple) showing the owner of the land and any encumbrances.
- The building permit and the delivery date, together with the provisions on penalties for delay.
- A description of the finishing standard (memoria de calidades) attached to the contract.
- An independent lawyer who will review the contract before you sign it. We always recommend using a lawyer unconnected with the seller, and we can recommend Polish-speaking lawyers on every coast.
Summary
Buying from a developer is safe if every payment has a guarantee and the contract clearly describes the deadline, the standard and the handover documents. You will find current projects in our offer of apartments and houses on the Costa Blanca and on the Costa del Sol. If you have questions about a specific development, write to us.
Frequently asked questions
Will I get my deposit back if the developer does not complete construction?
Yes, if the deposits were covered by a guarantee. The guarantor returns the amounts paid with statutory interest. It is worth filing the claim immediately after the deadline is missed, because guarantees have expiry dates. Check the details with a lawyer.
Can a foreigner buy from a developer in Spain?
Yes. You need an NIE number and an account at a Spanish bank. We explain this in the article on the NIE number.
How long do you wait for the keys?
From a few months for buildings in the final phase to several years for projects only just planned. What is binding is the deadline written in the contract.
The information is general and indicative. Regulations change, so verify them with an independent lawyer before purchase.
Updated: 13 October 2026. Sources: Boletín Oficial del Estado (BOE).
Main photo: Niplos (Public domain) — Wikimedia Commons.
