BLOGS

PURCHASE GUIDE · NEW CONSTRUCTION

Buying a new-build property is one of the most significant financial and personal milestones. Acquiring a brand-new home offers major advantages: superior energy efficiency, modern layouts, and the peace of mind provided by structural warranties. However, to ensure a seamless and secure transaction, it is essential to understand each phase of the process.

1. Financial Planning and Associated Costs

The first step is establishing a realistic budget. When purchasing a new-build property, additional taxes and fees beyond the purchase price must be considered:

  • VAT / IVA (10%): Unlike resale properties, new developments are subject to Value Added Tax.

  • Stamp Duty / AJD (Documented Legal Acts): Varies by autonomous community (in Madrid, it is typically 0.75%).

  • Notary, Land Registry, and Legal Management Fees: Standard expenses incurred during the formalization of the title deed.

2. Selecting the Development and Verifying Specifications

Before formalizing the reservation, carefully review the specifications manual (memoria de calidades), site layout plans, and floor plans. Ensure you have clear details regarding communal areas, parking spaces, and storage units included in the property.

3. Reservation Agreement and Off-Plan Purchases

During the construction stage, payments are usually structured through stage payments. It is crucial to verify that all advance payments are backed by a bank guarantee or insurance policy, ensuring the full refund of your funds in the unlikely event of any issues.

4. Handover and Final Inspection

Once construction is completed and the First Occupancy License (Licencia de Primera Ocupación) is granted, a pre-handover inspection takes place. This is the opportunity to compile a snagging list to confirm that all finishes meet the agreed standards prior to signing before the notary.

Looking for your next new-build home in Madrid?

At Proel Consultoría, we provide tailored guidance and expert advice throughout your search and investment journey. Contact us today to explore our current developments.

Proel Consultoría

27/10/2026

Share