New Developments
in Manilva

Spain closed the Golden Visa property investment route on 3 April 2025 under Organic Law 1/2025. Non-EU buyers can still purchase but will not receive residency solely through real estate investment. Alternative residency pathways include the non-lucrative visa (requires proof of income but prohibits employment), the entrepreneur visa (requires a business plan approved by ENISA), or the digital nomad visa (requires remote employment or clients outside Spain). Buyers planning to reside in Spain should consult an immigration lawyer before contracting. Property purchase in Manilva does not by itself confer residency, work rights, or Schengen access beyond the standard ninety-day tourist allowance.

Off-plan purchases in Manilva's seven pre-construction developments offer wider unit selection and sometimes lower pricing, but carry construction risk: delays, developer insolvency, or specification changes. Deposits must be bank-guaranteed under Law 38/1999, and completion typically occurs eighteen to thirty-six months after private contract. Ready-to-move inventory in the three completed developments eliminates construction risk, allows immediate occupation, and permits physical inspection before contracting, but selection is limited to unsold units and pricing rarely discounts below original phase rates. Off-plan buyers pay in stages (reservation, private contract, milestone payments, completion), spreading capital outlay over two to three years. Ready-to-move buyers concentrate payment at completion: balance, IVA, AJD, notary, and registry fees all due within days of signing. If securing a mortgage, lenders prefer completed properties because valuation and charge registration occur immediately.

Projects under construction typically follow a four- or five-stage payment schedule: reservation deposit (€6,000 to €10,000), private contract deposit (twenty to forty percent of purchase price within thirty to sixty days of reservation), two to three milestone payments (five to ten percent each, tied to foundation, structure, and services completion), and balance at notary completion (including IVA, AJD, notary, registry, and legal fees). The developer issues written notice ten to fourteen days before each milestone payment is due, often with photographs evidencing the construction stage. Buyers who miss a milestone payment risk contract rescission and forfeiture of prior deposits, though grace periods vary by developer. Off-plan projects (those without construction started) sometimes defer milestone payments until groundbreaking, compressing the schedule into twelve to eighteen months rather than twenty-four to thirty-six months. Roccabox provides a payment timeline at reservation, updated if the developer revises the completion date, but buyers must track payment deadlines independently and ensure funds are available in their Spanish bank account before each due date.

La Duquesa prioritises price and golf access: six developments starting at €261,000, most within walking distance of La Duquesa Golf & Country Club, with limited sea views and smaller communal areas. Manilva town offers hillside positions, fourteen developments from €320,000, better Mediterranean views, and proximity to the pueblo, but requires a car for beach or golf. Bahía de las Rocas is beachfront, starting at €390,000, targeting rental yield and northern-European second-home buyers, with two developments only. Buyers prioritising price per square metre and golf choose La Duquesa. Buyers prioritising views and access to Spanish village life choose Manilva town. Buyers prioritising beach proximity and rental income choose Bahía de las Rocas. Infrastructure access is similar across all three: Manilva town holds the health centre and larger supermarkets, La Duquesa has marina restaurants and golf clubhouses, Bahía de las Rocas connects directly to the coastal footpath. Sotogrande sits fifteen minutes west, Estepona twenty minutes east. None of the three sub-areas operates as a self-contained resort, so car ownership is practical.

New-build purchases incur IVA at ten percent, Actos Jurídicos Documentados (stamp duty) at 1.2 to 1.5 percent in Andalucía (applied to the higher of purchase price or cadastral value), notary fees (€600 to €1,200 for properties under €1 million), land registry fees (€400 to €800), and legal fees if the buyer instructs independent counsel (one to 1.5 percent of purchase price). A €400,000 apartment incurs approximately €40,000 IVA, €5,000 AJD, €800 notary, €600 registry, and €4,000 to €6,000 legal fees, totalling €50,400 to €52,400 on top of the purchase price. If the buyer obtains a mortgage, add valuation fees (€300 to €600), bank arrangement fees (typically one percent of loan amount), and gestoría fees for mortgage deed registration (€400 to €800). Buyers should budget twelve to fourteen percent above purchase price to cover all acquisition costs. Annual holding costs include IBI (council tax, 0.4 to one percent of cadastral value), community fees (€80 to €200 per month depending on development), rubbish collection tax (€150 to €300 annually), and non-resident income tax if the property remains unoccupied (calculated on imputed income, typically €200 to €800 annually for properties under €500,000). These figures are approximate and do not constitute tax or legal advice.

Spanish banks lend to non-residents purchasing new developments, typically up to sixty to seventy percent loan-to-value, occasionally seventy-five percent for properties under €500,000. Interest rates for non-residents range from 3.5 to five percent as of early 2025, with Euribor-linked variable rates or fixed terms up to twenty years. The bank requires proof of income (employment contract, tax returns, or audited accounts for self-employed), proof of deposit source (bank statements covering the prior six months), NIE (foreigner identification number), Spanish bank account, and property valuation by a bank-appointed surveyor. The mortgage deed (escritura de préstamo hipotecario) is signed at notary simultaneously with the purchase deed, and the mortgage charge is registered on the title. Non-resident mortgages require life insurance covering the loan amount, often supplied by the bank's tied insurer at 0.2 to 0.5 percent of loan value annually. Processing takes six to ten weeks from application to mortgage offer, so buyers purchasing off-plan should apply once the private contract is signed and construction milestones are visible. Roccabox does not arrange mortgages, provide mortgage advice, or recommend lenders. Buyers should consult a mortgage broker or approach banks directly.