New Developments
in Torremolinos

No. Spain's property-linked Golden Visa route closed on 3 April 2025 under Organic Law 1/2025. Non-EU nationals can no longer obtain residency through a qualifying real estate purchase regardless of the amount spent. Other legal residency pathways remain available, including non-lucrative visas and digital nomad visas, but these are unrelated to property ownership. Any buyer seeking residency alongside a purchase should take independent immigration legal advice before committing.

At the time of writing, zero completed units are available across the 13 tracked Torremolinos new developments. Every purchase in this market is therefore either off-plan or at some stage of active construction, with delivery periods ranging from roughly one to three years. Off-plan offers price certainty from the date of private contract and, in some schemes, lower entry prices in earlier phases. The trade-off is that you carry delivery risk and cannot occupy or rent until completion. Buyers who need immediate occupation should look at resale stock rather than the new-build pipeline here.

Spanish law requires developers selling off-plan property to protect stage payments either through a bank guarantee issued by a financial institution or by holding funds in a specially designated account. This means your payments are recoverable if the developer becomes insolvent before delivery. You should receive documentary evidence of this protection before signing the private purchase contract and making any payment beyond the initial reservation. Your independent lawyer should verify the guarantee is in place and covers the full amount paid prior to completion.

Central Torremolinos offers ten developments starting from €270,000, broader typology choice, and generally better connectivity to Malaga city and the airport via the commuter train. La Carihuela's three developments start from €428,000 and reflect a quieter, pedestrianised seafront environment with a lower-density building character and more established local amenity at street level. If rental yield is part of the calculation, both areas perform for short-stay tourism, but La Carihuela attracts a slightly different visitor profile. The decision usually comes down to lifestyle fit, unit size requirements, and available budget.

On a new-build in Andalusia, IVA (VAT) is charged at ten percent of the purchase price. Actos Juridicos Documentados (stamp duty) adds 1.2 percent in Andalusia. Notary fees, land registry fees, and an independent lawyer typically account for a further 1.0 to 1.5 percent. Total additional costs therefore sit in the range of 12 to 13 percent above the agreed price. These costs are paid at notarial completion and cannot be included in any mortgage facility, so they must be covered from your own funds.

Spanish banks do lend to non-residents, but on more conservative terms than to Spanish residents. Non-resident buyers should expect loan-to-value ratios of 60 to 70 percent, meaning a deposit of 30 to 40 percent of the purchase price plus the 12 to 13 percent in acquisition costs must come from personal funds. Lending criteria, interest rates, and required documentation vary by bank and by nationality. Roccabox can connect buyers with independent mortgage brokers experienced in non-resident applications, but we do not provide financial advice and any mortgage decision should be made with a regulated adviser.