New Developments
in Cádiz

No. The Spanish government closed the property-investment route to the Golden Visa on 3 April 2025 under Organic Law 1/2025. Non-EU buyers can no longer obtain residency by purchasing Spanish real estate at any price threshold. Other residency routes exist, including the non-lucrative visa and the digital nomad visa, but these are unconnected to property ownership. Any buyer for whom Spanish residency is a priority should take separate immigration legal advice before proceeding with a purchase.

Off-plan means buying before groundwork has started, typically from drawings and specifications only. The pre-construction window is where pricing is most competitive and unit selection is widest, but the wait to completion is longest and the visual and material reality of the finished product requires more imagination and reliance on specification documents. Under-construction purchases allow buyers to inspect build progress, verify material selections against what is actually being built, and often have a shorter wait to completion. Both stages carry completion risk, which is why stage-payment guarantees and independent legal review are essential.

The standard structure is a reservation deposit of €3,000 to €10,000, followed by a private purchase contract requiring a further payment that typically brings total deposits to 20% to 30%. For off-plan projects, additional staged payments tied to construction milestones are common. All stage payments must be covered by a bank guarantee or insurance policy under Spanish law, protecting buyers if the developer does not complete. The balance is paid at notary on completion. Specific terms vary by developer and should be reviewed by your independent lawyer before signing.

The decision turns on what the buyer is optimising for. Cádiz city offers a denser urban environment, an established rental market, architectural character, and Atlantic coastal access, reflected in a price floor of €549,000. Torrenueva offers lower entry prices from €310,000, a quieter and less urbanised setting, and a location that is at an earlier stage of infrastructure development. Buyers focused on lifestyle use and resale liquidity typically weight toward Cádiz city. Buyers prioritising yield arithmetic and lower capital commitment often look at Torrenueva, accepting that the surrounding infrastructure is less mature.

New-build purchases in Spain attract IVA at 10% of the purchase price rather than resale transfer tax. Andalusia applies AJD stamp duty at 1.2% of the declared value. Notary fees, land registry fees, and independent legal costs typically add a further 1% to 1.5%. As a working figure, buyers should budget total acquisition costs of 12% to 13% above the agreed purchase price. This does not include any financing arrangement fees if a mortgage is involved. Confirm the precise figures with your lawyer before exchange.

Yes, Spanish banks do lend to non-residents on new-build properties, but on different terms than for residents. Non-resident mortgages typically cover up to 60% to 70% of the appraised value, compared with up to 80% for residents. Interest rates and documentation requirements also differ. Buyers will generally need to evidence income from their country of residence, provide tax returns, and satisfy the bank's own affordability criteria. Pre-approval should be sought early in the process, ideally before reservation, since mortgage availability affects the payment schedule you can commit to. Roccabox can refer buyers to independent mortgage brokers with experience in non-resident lending.