Buying Costa del Sol Off-Plan Properties: Pros, Cons, and Tips

Buying an off-plan property in the Costa del Sol has its advantages, but it can also cause some apprehension, as they’re not yet ready to walk around and inspect before signing on the dotted line.

To help you decide if purchasing off-plan Costa de Sol properties is for you, the experts at Bromley Estates have delved into the subject to find the main reasons why you should, and things you should keep an eye out for during the process.

What are the benefits of buying Costa del Sol off-plan properties?

There are several key benefits to buying an off-plan property in the Costa del Sol. They include:

• Lower prices – With off-plan properties, you can often purchase a home at a lower price than you would for a complete home in the same development.
  
• Capital appreciation – Depending on market trends, you could see quite the uplift in property value over the course of a couple of years with an off-plan property. This is, of course, an enticing opportunity for somebody looking to invest in the Costa del Sol property market, who could benefit from selling for a profit in future.
  
• Customisation opportunities – Homes that aren’t finished and ready to move into allow you to tweak certain plans and design ideas to suit your preferences.
  
• Modern design and energy efficiency – Brand-new homes in the Costa del Sol are all subject to the latest energy-efficient regulations while also displaying the most up-to-date design ideas and practices.

What are the less attractive aspects when buying Costa del Sol off-plan properties?

Of course, like anything in the property industry, there are some uncertainties involved when purchasing off-plan properties in the Costa del Sol. They include:

• Construction delays – Projects can take longer than expected sometimes because of a delay in materials or a labour shortage.
  
• Market fluctuations – Property values can rise or fall at any time during the construction of your property. This could affect budgets.
  
• Developer reliability – Your developer may not be quite as reliable as you think, potentially causing delays and other issues with the build of your home.
  
• Limited inspection opportunities – Buyers rely on plans, renderings, or virtual tours instead of being given access to inspect the property.

Essential tips when buying Costa del Sol off-plan properties

To ensure you get the best property possible and avoid any of the potential risks, we’ve compiled some useful tips to follow:

• Research the developer – Read reviews, check past projects, and ask for references to discover how reliable the developer is.
  
• Bank guarantees – Ensure that your deposits are protected by law. In Spain, reputable developers must provide a bank guarantee to you.
  
• Use respected real estate agents – Use a reliable and well-respected real estate agency, like Bromley Estates, to guide you through the process.
  
• Visit the site – Visit the construction site so you can get a real feel for the project, the space your house will be in, and what the neighbourhood will look like.
  
• Understand payment stages – Costa del Sol off-plan purchases often involve staggered payments linked to construction milestones, so be aware of what this entails and when you need to pay.

Which areas are the most popular for Costa del Sol off-plan properties?

The most popular areas in the Costa del Sol for purchasing off-plan properties are:

• Marbella – Marbella is a fun place, packed with luxury living, high-end golf resorts, and beautiful beaches.
  
• Estepona – This picturesque old town is growing in popularity and is more affordable than Marbella.
  
• Mijas & Fuengirola – Full of family-friendly areas with a strong rental market, which makes it an opportunistic possibility for investors.
  
• Benahavís – Benahavís offers exclusive gated communities with high-end villas, modern amenities, and luxury living. 

Speak to Bromley Estates Marbella

So, are you interested in purchasing Costa del Sol off-plan property? We can help!

At Bromley Estates, we’ve helped people just like you for many years. We can guide you through the off-plan property market in the Costa del Sol, talk you through the different construction stages, and advise on the right properties and areas for your needs.

Whether you want a full-time home on the south coast of Spain, somewhere to rent out for regular income, or a holiday home abroad, our team of experts are available to support your dreams.

If you’re keen to speak to our agents, call +34 952 939 460 (+44 208 068 7606) or send an email to info@bromleyestatesmarbella.com.