New Developments
in Vélez-Málaga

The Spanish Golden Visa property route closed on 3 April 2025 under Organic Law 1/2025. Non-EU buyers can no longer obtain residency by purchasing real estate, regardless of value. Other residency routes remain available, the non-lucrative visa and the digital nomad visa among them, but these are income or employment-based rather than property-based. Any residency planning should be discussed with a qualified immigration lawyer before proceeding with a purchase.

The completed development allows immediate occupation or rental from day one and eliminates construction risk. Snagging can be done before key handover and any defects documented formally. Off-plan and under-construction purchases typically offer lower entry prices and staged payment schedules that spread capital outlay over the build period, but they carry timeline risk and require deposits to be bank-guaranteed by the developer. The right choice depends on your intended use, liquidity position, and tolerance for a construction timeline that may shift by several months.

Reservation deposits in Vélez-Málaga generally range from €3,000 to €10,000. The private purchase contract, signed within a few weeks of reservation, usually requires a total deposit of 10 to 30 percent of the purchase price. For properties still under construction, further stage payments tied to build milestones may apply before a final balance is due at notary completion. All pre-completion deposits on new-build properties must be insured or bank-guaranteed under Spanish law, so confirm that protection is in place before transferring any funds.

The town-side location suits buyers prioritising year-round liveability: access to the hospital, schools, weekly market, and the Axarquía transport network. Properties here tend to offer more space per euro. Coastal-adjacent developments near Torre del Mar and Caleta de Vélez suit buyers weighting beach access, marina proximity, and short-term rental potential more heavily. Both sub-areas sit within the same municipal designation in the current inventory, so comparing specific plot and phase locations, not just the town label, is the more useful filter.

For new-build purchases in Andalucía, buyers pay IVA at 10 percent of the purchase price and AJD stamp duty at 1.2 percent. Notary fees, land registry registration, and independent legal fees typically account for a further 1.5 to 2 percent combined. Total acquisition costs therefore run to approximately 13 to 14 percent on top of the agreed purchase price. These figures are consistent across the Vélez-Málaga developments tracked but should be confirmed with your lawyer for the specific transaction.

Yes. Spanish banks lend to non-residents, though loan-to-value ratios are typically capped at 60 to 70 percent of the purchase price or appraisal value, whichever is lower, compared with up to 80 percent for residents. Lenders require proof of income, recent tax returns from the buyer's home jurisdiction, and a clean credit record. For off-plan purchases, formal mortgage offers are generally confirmed closer to the completion date rather than at the reservation stage, so buyers should plan their liquidity accordingly for earlier stage payments.