Buying a new build San Fulgencio property offers international buyers a chance to own a modern home in one of the Costa Blanca’s most sought-after areas. This guide provides a practical, step-by-step overview of the process, from reservation contracts to receiving the keys, tailored specifically for overseas investors. Drawing on data from veritySpain, which analysed six projects in the region, the average rating for new developments in San Fulgencio stands at 7.3/10, with prices ranging from €110,000 to €800,000. Whether you’re seeking a modest apartment or a spacious villa, understanding the local market, costs, and timelines is essential for a smooth transaction.

Understanding the San Fulgencio property market

San Fulgencio, located in Alicante’s Costa Blanca, has become a focal point for international buyers due to its proximity to amenities, golf courses, and the Mediterranean coast. The area’s property market is diverse, with developments catering to various budgets and preferences. According to veritySpain, the analysed projects include urban apartments, semi-detached homes, and detached villas, reflecting the area’s versatility. Prices start at €110,000 for a one-bedroom apartment and escalate to €800,000 for larger properties with private pools and gardens. The average completion timeline for new builds is 18–24 months, though this can vary depending on the developer and project scale. Buyers should also note that San Fulgencio’s popularity has led to increased demand, making early reservations advisable.

Step 1: Reservation contract and initial costs

The first step in purchasing a new-build property in San Fulgencio is signing a reservation contract. This legally binding document secures the property and typically requires a deposit of €6,000–€15,000, depending on the developer and property value. The reservation fee is often deducted from the final purchase price. At this stage, buyers should ensure the developer provides a detailed breakdown of costs, including the base price, VAT, and any additional fees. In Spain, VAT (IVA) on new builds is 10%, while transfer tax (ITP) does not apply to new properties. Buyers should also budget for notary fees, which average €1,000–€1,500, and land registry costs of approximately €500–€700. Engaging a local lawyer to review the contract is highly recommended to avoid potential pitfalls.

Step 2: Securing financing and signing the purchase contract

Once the reservation is in place, buyers must secure financing if required. Spanish banks offer mortgages to international buyers, typically covering up to 60–70% of the property value. Interest rates vary but currently average 2.5–3.5% for non-residents, according to Banco de España data. The mortgage process can take 4–6 weeks, so initiating it promptly is crucial. After financing is arranged, the next step is signing the purchase contract (contrato de compraventa). This formalises the transaction and outlines payment schedules, usually in instalments tied to construction milestones. Buyers typically pay 30% upfront, followed by additional payments as the build progresses. A final payment of 10% is made upon completion. Ensure the contract includes penalties for delays and guarantees for construction quality.

Step 3: Completion and receiving the keys

The final stage is the completion of the property and the transfer of ownership. Once construction is finished, the developer will issue a Certificate of Occupancy (Licencia de Primera Ocupación), confirming the property is habitable and complies with local regulations. Buyers must then pay the remaining balance and settle any outstanding taxes or fees. The notary will oversee the signing of the deed (escritura pública), which is registered with the Land Registry. According to Registradores de España, the registration process typically takes 2–4 weeks. Upon completion, buyers receive the keys and can move in or begin furnishing their new home. It’s advisable to conduct a final inspection to ensure the property meets the agreed specifications and quality standards.

Key takeaways

• San Fulgencio’s new-build market offers diverse options, with prices ranging from €110,000 to €800,000.
• Reservation contracts require a deposit of €6,000–€15,000 and should be reviewed by a local lawyer.
• VAT on new builds is 10%, with additional costs including notary and land registry fees.
• Mortgages for international buyers cover up to 60–70% of the property value, with rates averaging 2.5–3.5%.
• The completion process involves obtaining a Certificate of Occupancy, signing the deed, and registering the property.