Buying Guide Details

Buying Property on the Costa Almeria

Promenade at Roquetas del Mar on the Costa Almeria, Spain

Where to buy property on the Costa Almeria

Property on the Costa Almeria, situated between the Costa Tropical and Costa Calida in the southeast of Andalucia, is still reasonably priced despite above-average appreciation in recent years. Homes on the coast, in resorts such as Mojacar and Roquetas de Mar, are popular and golf property is becoming increasingly desirable as the courses in the area gain repute.

South of Mojacar is the Cabo de Gata nature reserve, with its range of landscapes and diversity of land and marine flora and fauna, has some of the best beaches in the region, interspersed with vertiginous cliffs and rocky coves. North of Mojacar is Vera, a favourite with British property buyers. The beach and water park at nearby Vera Playa is a big tourist draw; there’s a designated nudist beach for those who prefer to let it all hang out on holiday.

As is often the case, inland properties can be better value than the coastal equivalent. The charming town of Albox is well-known on the UK property buyer’s radar and has an established expat community, yet has retained some of its Andalucian charm.

The filming location of many spaghetti western films in the 1960s, the region’s arid climate is bringing in more tourists, with around 320 days of sunshine per year and roasting temperatures at the height of summer. Amenities in the area are of a high standard, though anyone looking to put their children through school will be looking at local schools rather than international, English-speaking establishments – actually, no bad thing at all.

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The Process of Buying Property on the Costa Almeria

Anyone wishing to buy (or sell) a property on the Costa Almeria must first obtain from the state – in person – a fiscal number for foreigners known as NIE (numero de identificacion de extranjeros)
Once the property buyer has received the NIE number, the property buyer’s lawyers can make an offer on their behalf. When a price has been agreed, it is recommended that both parties sign a preliminary agreement which outlines details such as the completion date
A deposit of 10% is the normal amount placed to secure the deal. After this, if the property buyer pulls out they lose the full deposit but, should the seller decide not to go ahead, he/she must return double the amount of the deposit – i.e. 20% – to the buyer
If buying property on the Costa Almeria off-plan, it is usual for payments to be broken into stages, the balance being paid when construction finishes
On completion, when all the necessary checks have been carried out, both parties sign the escritura (title deeds) in the presence of a notary. The property buyer then pays the balance, plus all other fees and taxes. Copies of the deeds are sent to the Land Registry and the tax office.

Homes Overseas Property Club

Homes Overseas has joined forces with a collection of IFA specialists to form the Homes Overseas Property Club (HOPC), designed for existing and prospective overseas property homeowners.

The Club – which has access to international lawyers in no fewer than 43 different countries - has been set up in order to guide people through some of the various issues relating to buying and maintaining a property overseas. It offers advice on a range of topics, including financial, legal, insurance, taxation, property management and foreign currency matters.

For further information please telephone 0845 838 7142 or email info@homesoverseaspropertyclub.com

Fees & Taxes

Taxes and fees usually amount to around 10% of the total purchase price of the property on the Costa Almeria
Taxes payable depend on whether the property being purchased is new-build or resale. Currently, transfer tax of around 7% is applied on resales, which includes stamp duty. For new-build properties, VAT (IVA) of 7% is payable in addition to 1% stamp duty
On top of this there is also plusvalia (capital gains tax), which is set by the local authorities and depends on the area concerned and the amount of profit being made on the sale. This is usually paid by the seller
If the property buyer is purchasing land or commercial property on the Costa Almeria rather than residential property on the Costa Almeria, VAT is 16% as opposed to 7%. Stamp duty remains the same
Most Spanish lawyers charge around 1% of the final purchase price, and notary fees are around 0.5%
Agents’ fees can vary anywhere between 2% and 15% – so be careful not to be ripped off

Getting there

Almeria airport is served by airlines from London, Birmingham and Manchester.

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