Have you ever considered the possibility of buying an off-plan property? According to recent data, more than 25% of the homes sold in Spain over the past year were new builds, most of them under this model. However, the decision often raises many questions: is it safe, how does it work, what are the real benefits? At 1Mast, as a real estate agency specialized in the Costa del Sol, we understand the value of investing in new developments and the importance of having a clear, transparent, and expert guide for such a major decision. In this article, we explain everything you need to know, with a practical approach tailored to your needs.
Before we start: what does buying off-plan mean?
Buying off-plan means purchasing a property that has not yet been built, existing only as a project (plans, specifications, and permits). You make the reservation and initial payments before the building is completed, receiving the property once the work is finished. This process is regulated under Spanish law, which protects your rights as a buyer and requires the developer to deliver the property as agreed.
Why is buying off-plan a good option?
Purchasing a property off-plan offers advantages beyond the price. It is increasingly valued by buyers seeking customization, access to up-and-coming areas, and a future-oriented investment backed by legal guarantees. Here are the main reasons this option is so attractive:
- Launch prices: Access more competitive rates compared to a completed property, with potential value appreciation between purchase and delivery.
- Customization: Choose between different layouts, finishes, and, in some projects, request upgrades or changes at the design stage.
- Staggered payments: Payments are spread over the construction period, making financial planning easier.
- State-of-the-art technology and energy efficiency: New developments meet modern building and sustainability standards, translating into savings and comfort.
- Legal guarantees: Spanish law requires developers to provide guarantees and insurance to protect the amounts you pay in advance, as well as structural warranties.
- Investment opportunity: The growing national and international interest in the Costa del Sol makes buying off-plan a strategic choice to generate capital gains before completion.
How does the off-plan buying process work?
The off-plan buying process involves several stages. Understanding each step is key to making decisions with complete security and confidence. Here’s the typical sequence:
1. Choosing the project and reserving your property
It all begins by selecting the development that best suits your needs. At this stage, it’s essential to verify the ownership of the land, the existence of a valid building permit and that the property is registered in the Land Registry. You should also request the specifications (quality report), making sure it details the usable surface area, communal areas, and planned materials. Once you have chosen the property, you usually sign a reservation agreement and pay an initial deposit—generally between €3,000 and €10,000, depending on the developer.
2. Signing the purchase agreement and making payments during construction
In the second stage, you sign the private purchase agreement, which must state the purchase price (with VAT shown separately), the expected delivery date, penalties for delays, and the payment schedule. Typically, 10% is paid when signing the contract, and another 10% is paid in instalments during the build, into the bank account designated by the developer and protected by a bank guarantee or insurance policy. Keeping copies of all documents and payment receipts is essential for your legal security.
3. Completion of construction and obtaining the occupancy licence
Once construction is finished, the developer must obtain the first occupancy licence issued by the Town Hall. Before signing the title deed, it’s advisable to visit the property to ensure it matches the agreed plans and specifications, and request corrections for any defects found.
4. Title deed signing and handover
The final step is signing the public deed before a notary and paying the remaining balance—usually 80% of the total price, often through a new-build mortgage. At this point, you receive the keys and all technical documentation, including the energy performance certificate and the 10-year building warranty.
Key tips for buying off-plan
Buying off-plan requires forward planning and confidence in the process. Here’s what to consider to make your experience positive and profitable:
- Choose only reputable developers: Assess the developer’s reputation, track record, and financial standing. In the Costa del Sol, the best projects are marketed by trusted agencies such as 1Mast.
- Check all legal guarantees: Always demand proof that your advance payments are guaranteed and confirm that the building permit is valid.
- Read the specifications and plans carefully: Understand exactly what you’ll receive, the materials, the usable areas, and any permitted changes stated in the contract.
- Seek advice from an independent certified agent: A qualified professional (for example, with CRS certification) can protect you from abusive clauses and guide you legally through the process.
- Plan your financing: Look into mortgage terms early, as banks will assess the development and delivery date.
- Get confirmation of delivery dates: Make sure timelines are clearly defined and include penalties for unjustified delays.
- Keep all documentation: This includes reservations, contracts, payment receipts, and certificates—essential in case of any future disputes.
1Mast: Off-plan properties for sale in the Costa del Sol
At 1Mast, we have been helping national and international buyers find the perfect home in the Costa del Sol for over 20 years, whether new-build or resale. Our experience and local knowledge allow us to guide you through every step of the off-plan buying process, offering:
- Access to the best developments and launch conditions, carefully selected for quality, developer reliability, and strategic location.
- Personalised support in your language, from the first selection to key handover and after-sales service.
- Exclusive representation: we represent only your interests, ensuring transparency and safety without conflicts of interest.
- Professional certification and ethics: our agents hold international accreditations (REALTOR, CRS) to protect your rights at all times.
The Costa del Sol awaits you with innovative projects, high capital growth potential, and the quality of life you’ve been looking for. If you want to buy your off-plan home with full information and confidence, contact our expert agents. At 1Mast, we’ll help you choose the best option and guide you from start to finish.