Buying guide
How to buy your new home in La Hoya
Buying in Spain as a foreigner is simpler than it seems. These are the steps, costs and guarantees you need to know.
The process, step by step
Choose and visit
We show you the developments and the available homes, in person or by video call, and answer your questions about the area.
NIE and bank account
To buy you need an NIE (foreigner's identification number) and an account with a Spanish bank. Both can be arranged through a power of attorney without being in Spain.
Reservation
With a reservation contract and an initial payment, the home is taken off the market while the purchase contract is prepared.
Contract and payments
For new builds you sign a private purchase contract and make stage payments during construction. By law, the developer must guarantee them with a bank guarantee or insurance.
Title deed and keys
When the building is finished, the deed is signed before a notary, the balance is paid and you receive the keys. The property is then registered at the Land Registry.
After the purchase
Utility connections, the owners' association, annual taxes and, if you want to rent it out, the relevant licence.
Taxes and costs when buying a new build
A guide for a new home in the Valencia region. Always check your own case with an adviser.
On the price of the home (and of the parking space and storage room if sold together).
Regional tax on the title deed.
Depending on the price and the number of documents.
Recommended to review contracts and bank guarantees.
In total, allow for an extra 12% to 14% on top of the purchase price.
New-build guarantees
Ten-year insurance for structural defects.
Guarantee for habitability defects.
Finishing warranty.
Mortgages for non-residents
Spanish banks lend to non-resident buyers, usually between 60% and 70% of the property's value. We can put you in touch with lenders and advisers who work in your language.
Frequently asked questions
What is La Hoya in Torrevieja?
It is the new neighbourhood in Sector 20 of Torrevieja: a 1.8 million m² development next to the Lagunas de La Mata y Torrevieja Natural Park, with around 7,000 planned homes, green spaces, a shopping area and schools.
How far is the beach?
La Mata beach is about 5 km away and Torrevieja's town beaches, such as Playa del Cura, about 3–4 km. By car it takes less than 10 minutes.
Is there a hospital nearby?
Yes. Quirónsalud Torrevieja Hospital is right next to the neighbourhood, and the public Torrevieja University Hospital is about 10 minutes away by car.
Can I buy if I don't live in Spain?
Yes. Anyone can buy property in Spain. You only need an NIE and a Spanish bank account, and you can do almost the whole process remotely with a power of attorney.
What taxes do you pay when buying a new build?
10% VAT on the price and 1.5% stamp duty (AJD) in the Valencia region, plus notary, registry and admin fees. In total, between 12% and 14% of the price.
Are there homes ready to move into?
Yes. Lagoons Village has finished homes ready to live in. Other developments, such as Sunset Village, are sold during construction.
How long does it take to get to the airport?
Alicante-Elche airport is about 40 minutes by car. Región de Murcia airport is about an hour away.
This guide is for information only and does not constitute tax or legal advice. Rates and percentages may change.
Come and see La Hoya
We arrange viewings of the neighbourhood and the developments, in person or by video call. Tell us what you're looking for and we'll get back to you straight away.