Steps to buying a property on the Costa Blanca
A guide to successful investing
If you are interested in the Mediterranean lifestyle, the Spanish coastal property market and secure property investment, then buying property in Benidorm could be the perfect choice for you. In this guide, we detail the steps to buying property on the Costa Blanca, so you can find the home or investment of your dreams easily and safely.
1. Contact and needs assessment - Personalised search:
Personalised search
As a first step, contact the Go2CostaBlanca experts to determine your needs and preferences. We will help you choose the property that best suits your needs.
2. Property search and virtual viewing
Convenient and fast decision-making
We’ll select the best options from our selection and arrange an appointment to view them in person or online. You can also tour the properties virtually, so you don’t need to travel to Spain to make your decision. If you have specific ideas, we will take them into account and target the right property for you.
3. Booking, bargain and payment of deposit
Favourable conditions
Once you have found the ideal property, you can make an offer or a deal, the aim being to agree the best terms for both parties. Once the deal is successfully concluded, you can secure the property by signing a reservation contract and paying a deposit. This is usually 10% of the purchase price of the property.
4. Legal and financial management
Secure and transparent process
We can help you with your NIE Number! Click here. Apply for a NIE Number (an identification number for foreigners needed to buy a property).
Open a bank account in Spain to cover future expenses and payments. We can help you open a bank account! Click here.
Checking tax numbers and duties.
Legal background checks to ensure that the property is free of encumbrances.
5. Additional costs and maintenance fees
What to look out for?
When buying a property, you should also take into account the extra costs over and above the purchase price, which may differ between second-hand and new property:
For used property:
Real estate transfer tax (ITP): 10%.
Official fees (notary and land registry): approx. 2% above the purchase price.
For a new property:
VAT (IVA): 10%.
Official costs (notary and land registry): approx. 2% above the purchase price.
AJD: 0.1 or 1.5%
These costs are indicative and the exact amount may vary according to the property and region
.
There are also annual maintenance costs, such as:
- Annual property tax (IBI): €250-600/year.
- “Non-resident” tax: €100-300/year (for a property with no expenses) or 19% of rental income
. - Refuse collection fee: €193/year (Benidorm).
- Common charges: different for each apartment.
6. Finalisation and notarisation
The last steps
Once the full purchase price has been paid, the sales contract must be signed before a notary. This officially transfers the property to the new owner.
7. Registration of ownership and utility transfers
Administrative tasks
Once the contract of sale has been signed by a notary, the property is registered at the Land Registry in the name of the new owner. In addition, utility contracts and local taxes will have to be transferred.
8. Moving and furnishing
Smooth move-in
Congratulations! The property is officially yours. We can help you move in and recommend trusted local professionals for renovation, furnishing or other services you need.
Why choose us?
The benefits of Go2CostaBlanca
✅ Experienced team of experts
✅ Full service
✅ Trusted legal backing
✅ Local knowledge and market insight
✅ Experienced team of experts
✅ Full service
✅ Trusted legal backing
✅ Local knowledge and market insight
Request a free consultation now!
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