New Developments
in Ojén

The Spanish Golden Visa route tied to real estate investment was closed on 3 April 2025 under Organic Law 1/2025. Non-EU buyers can no longer obtain a Golden Visa through property purchase regardless of price. Other residency routes exist, including non-lucrative visas and digital nomad visas, but those are assessed on personal financial and professional circumstances rather than property ownership. Any buyer with residency objectives should take independent immigration legal advice before committing to a purchase.

Off-plan typically means purchasing before a building licence has been granted, which carries additional planning risk. The one development Roccabox is currently tracking in Ojén is under construction with a licence in place, which removes that specific risk. The practical implications for the buyer are that the construction timeline is more predictable, the building guarantee should already be active, and the developer's bank guarantees covering stage payments are enforceable from the point of the private contract. The trade-off against buying a completed unit is that you cannot physically inspect the finished apartment before committing.

Payment structures vary by developer, but a common schedule for an under-construction project on the Costa del Sol runs as follows: a reservation payment of roughly €6,000 to €12,000, a further payment bringing the total to around ten percent at private contract stage, and then one or more stage payments during construction, with the balance paid at notary on completion. Every stage payment during construction must be protected by a bank guarantee or insurance policy in the buyer's name. Your independent lawyer should confirm the guarantee is in place before each transfer is made.

Ojén village sits inland and at altitude, which means a cooler microclimate, a lower density environment, and a community structure built around a functioning Andalusian town rather than a resort urbanisation. Buyers who prioritise coastal beach access within walking distance will find that Ojén does not deliver that. Buyers who prioritise natural surroundings, the Sierra de las Nieves national park boundary, and proximity to Marbella without the associated land premiums will find the location more directly relevant to their requirements. Rental demand here skews toward medium and long-term residential lets rather than short-stay tourism.

For a new-build purchase in Spain, budget ten to twelve percent above the agreed purchase price to cover all acquisition costs. The two main taxes are IVA at ten percent of the purchase price and AJD (stamp duty) at approximately one to one-and-a-half percent. Notary fees, land registry fees, and independent legal fees typically add a combined one to one-and-a-half percent. These are indicative figures. Your independent lawyer will provide a written cost breakdown once the specific unit and price are confirmed. Annual ownership costs, including IBI (local property tax) and community fees, are separate and should also be factored into your total cost model.

Spanish banks do lend to non-resident buyers, but the terms differ from those available to residents. Non-residents are typically offered loan-to-value ratios of up to sixty to sixty-five percent of the lower of purchase price or bank valuation, compared to up to eighty percent for residents. Interest rates and documentation requirements also differ by lender and by the buyer's country of tax residence. Roccabox can introduce buyers to mortgage brokers who work regularly with non-resident buyers on the Costa del Sol, but any mortgage advice is provided by those specialists independently of the agency.