New Developments
in Istán

The Spanish Golden Visa route tied to real estate investment closed on 3 April 2025 under Organic Law 1/2025. Non-EU buyers who complete a purchase in Istán after that date do not acquire any residency entitlement through the transaction. Residency options for non-EU nationals now depend on other visa categories, including the non-lucrative visa or digital nomad visa, each with separate income and administrative requirements. Buyers seeking residency should take specific immigration advice from a qualified lawyer before making any purchase decision on that basis.

Completed units allow physical inspection before any money changes hands, carry no construction risk, and transfer title at a single notary appointment. The full purchase price plus acquisition costs must be available immediately. Construction-stage units spread the capital outlay across build milestones, but the buyer assumes risk that the timeline extends, materials costs affect specification, or, in a stressed scenario, the developer encounters difficulties. Spanish law requires stage payments on off-plan property to be covered by bank guarantee or insurance, which is a material protection but not a substitute for due diligence on the developer and the project.

A reservation deposit, usually between €6,000 and €20,000, is paid first and holds the price. Within two to four weeks the Private Purchase Contract is signed and the buyer pays up to ten percent of the total price, inclusive of the reservation. For construction-stage projects, further tranches are drawn at agreed build milestones, with the final balance of sixty to seventy percent paid at notarial completion. Completed developments require the remaining ninety percent at notary. All payment schedules are project-specific and should be reviewed with an independent lawyer before signing.

All five developments currently tracked sit within or immediately adjacent to Istán village and its surrounding hillside terrain, so there is no separate sub-zone differentiation as exists in larger municipalities. The meaningful variables are drive time to Marbella and Puerto Banus, which ranges from around eight to fifteen minutes depending on specific plot location, view orientation toward the reservoir or the sierra, community scale and the associated fee structure, and road access quality. Buyers prioritising primary residence use tend to weigh road infrastructure and proximity to services more heavily than buyers seeking part-time occupation.

New build residential property in Andalucia is subject to IVA at ten percent of the declared purchase price. Stamp duty, AJD, applies at 1.2 percent in Andalucia. Notary fees vary with deed complexity. Independent legal fees typically represent one to two percent of the purchase price. A working assumption of thirteen to fourteen percent above the headline purchase price is a reasonable budget figure for acquisition costs. Buyers should obtain a specific cost estimate from their appointed lawyer early in the process, as individual circumstances and transaction structure can affect the total.

Spanish lenders do offer mortgage products to non-resident buyers, but the conditions differ from resident lending. Loan-to-value ratios are typically capped at sixty to seventy percent of the appraised value rather than the purchase price, and documentation requirements are more extensive, including certified income evidence and tax returns from the buyer's country of residence. Approval timelines are longer than for resident applicants. Buyers relying on mortgage finance should begin lender conversations at the same time as property search, not after reserving a unit, to avoid stage-payment timing conflicts.