Guide to buying a luxury property on the Costa Blanca as a foreigner

The Costa Blanca, with its sunny climate, upscale golf courses and beautiful beaches, is a popular destination for those looking for a second home or to move permanently to Spain. If you are a foreigner and are interested in buying a luxury property on the Costa Blanca, here is a guide to make the process easier for you.

1. Obtain the Foreigner Identification Number (NIE)

The first step is to obtain the NIE (Foreigner Identification Number). This number is necessary for any financial transaction in Spain, including the purchase of a property. It is requested at a Spanish police station or at the Spanish consulate in your country. 

2. Open a bank account in Spain

Opening a bank account in Spain will make the purchase process easier for you. It will allow you to manage all payments related to the property: purchase of the property, associated expenses, taxes, supplies, etc.

3. Hire a lawyer

It is highly recommended to hire a lawyer who specializes in real estate law. They will be in charge of reviewing the legal documents, checking that the property is free of encumbrances and helping you throughout the purchase process.

4. Look for the right location and housing

A trusted real estate agency will offer you personalized advice that will allow you to find the house of your dreams in the right place: on the beach, near a golf course, in the mountains...

5. Sign a Booking Contract

Once you find the property you want, you will have to sign a reservation contract and pay a deposit.

6. Get Funding

If you need a mortgage, you will need to submit several documents to the bank, including your NIE, passport, proof of income, and tax return. The bank will also require an appraisal of the property to determine its actual value. Spanish banks usually finance up to 70-80% of the value of the property.

7. Sign the Public Deed

The final step is to sign the public deed before a notary. At this time, the payment is made for the purchase of the property and the property is transferred to your name.

8. Pay taxes and associated expenses

After the purchase, you will have to pay several taxes, such as VAT if the house is newly built. Among the associated expenses are notary fees, Land Registry, lawyer fees, etc.

9. Register Property

Finally, register the property in your name in the Land Registry. This way you will be legally registered as the owner of said house.

If you want to buy a luxury property on the Costa Blanca, take a look at the GRUPO VEGASOL developments

Buying a luxury property on the Costa Blanca is even more attractive when you trust GRUPO VEGASOL. Our company specialises in the construction of superior quality detached villas. We offer exclusive developments that stand out for their elegant and modern design, as well as for their privileged location near the sea and golf courses.

The GRUPO VEGASOL offers  you:

• Exclusive design: Villas with luxury finishes and contemporary design.
• Excellent location: Properties located in the best areas of the Costa Blanca.
• Personalised and multilingual attention: Comprehensive advice of the highest quality.
• Villa construction: Personalized projects adapted to your needs.

Trust GRUPO VEGASOL to buy a luxury property on the Costa Blanca

Buying a luxury property on the Costa Blanca with GRUPO VEGASOL is synonymous with quality and trust. We are a third-generation family business, with more than 40 years of experience in villa construction. We take care of every last detail, being on site daily. We prioritize the quality of the homes before the quantity.

If you are interested in buying a luxury property on the Costa Blanca, do not hesitate to contact us. At GRUPO VEGASOL, we are here to help you find your dream home in Spain.

Contact us:

• Contact form: Fill in the form on our website.
• Email: info@grupovegasol.com
• Telephone: 686 910 381
• Address: Vereda Los Ginesillos, nº 27-D, La Campaneta 03325 (Alicante)