New Developments
in Torremolinos

Not through the property route. The Spain Golden Visa based on real estate purchase closed on 3 April 2025 under Organic Law 1/2025, so buying a home no longer qualifies you for residency on its own. Non-EU buyers can still own property in Spain without residency and stay as visitors for up to 90 days in any 180. Other residency routes exist, such as non-lucrative, digital nomad or work-based permits, each with its own income and documentation requirements. Speak to an immigration lawyer about which suits your situation, and treat any property purchase as separate from your residency plans.

It depends on timing, budget and appetite for waiting. In Torremolinos, 9 of the 15 tracked developments are pre-construction, 4 are under construction and 2 are completed. Off-plan usually offers earlier pricing, a wider choice of units and staged payments, but you wait for delivery and carry build risk. Completed homes let you inspect the actual finish, move in or rent quickly, and pay in full at completion, but choice is narrower. If you need keys soon, focus on the two completed schemes and the most advanced under construction.

A reservation payment, commonly a few thousand euros, secures the unit for a short period. At the private contract you usually pay a first instalment of around 10 percent, then further stage payments tied to construction milestones, with the balance at completion. Exact percentages vary by developer and project, and some branded or large schemes use different structures. For off-plan purchases, stage payments should be covered by a bank guarantee or insurance, so ask for it in writing. Your independent lawyer should review the schedule before you sign.

Start with what you value most. Torremolinos centre has 11 developments from €358k and the widest range of sizes, prices and delivery dates, so it suits comparison shopping and good transport access. La Carihuela has 3 developments from €428k and is the established seafront quarter, with a walkable setting, promenade and restaurants; supply is limited. Los Álamos has one development from €238k, the lowest entry point in town, suited to budget-led or first-time buyers. We recommend viewing at least two areas before deciding.

For a new build in Andalusia, VAT (IVA) is 10 percent and Stamp Duty (AJD) is currently 1.2 percent. Notary, land registry and gestoría fees together typically add roughly 1 to 1.5 percent, and your lawyer's fee is agreed separately. As a planning figure, allow around 12 to 14 percent on top of the price, then confirm the exact numbers with your lawyer for the specific project. Later, you will also pay annual property tax (IBI), community fees and, for non-residents, a non-resident income tax declaration. This is general information, not tax advice.

Yes. Several Spanish banks lend to non-residents, usually up to around 60 to 70 percent of the lower of the purchase price or valuation, with the remainder funded from your own capital. Banks assess income, existing debts and credit history, and require documentation such as proof of income, tax returns and ID. Terms, rates and approval times vary by lender and by your profile, and off-plan purchases may involve different drawdown timing than completed homes. We recommend speaking to an independent mortgage broker early and getting an approval in principle before you reserve.