{"id":8598,"date":"2025-09-24T14:44:12","date_gmt":"2025-09-24T12:44:12","guid":{"rendered":"https:\/\/www.iimarbella.com\/8598-dlaczego-costa-del-sol-przyciaga-kupujacych-apartamenty"},"modified":"2026-03-20T10:39:48","modified_gmt":"2026-03-20T09:39:48","slug":"why-costa-del-sol-attracts-apartment-buyers","status":"publish","type":"post","link":"https:\/\/www.iimarbella.com\/en\/8598-why-costa-del-sol-attracts-apartment-buyers","title":{"rendered":"Why Does Costa del Sol Attract Apartment Buyers?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">What You&#8217;ll Learn From This Article:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Why Costa del Sol<\/strong> is a &#8220;sure bet&#8221;: over 300 days of sunshine, a stable market, high international demand, and short-term rental income potential.<\/li>\n\n\n\n<li><strong>What is an apartment in Spain<\/strong> and its <strong>types<\/strong>: studios, apartments with gardens, duplexes, penthouses; often in complexes with pools, gyms, and security.<\/li>\n\n\n\n<li><strong>New vs. Resale Market<\/strong> \u2013 key differences:\n<ul class=\"wp-block-list\">\n<li>New build: turnkey finish, modern standards, amenities, often phased payments; waiting time for handover.<\/li>\n\n\n\n<li>Resale: ready to move in, prime locations, potential bargains, sometimes requires renovation.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Approximate Prices<\/strong>: prestigious locations (Marbella, Benahav\u00eds) often <strong>> \u20ac4,000\/m\u00b2<\/strong>, towns like Mijas\/Benalm\u00e1dena approx. <strong>\u20ac2,500\u2013\u20ac3,000\/m\u00b2<\/strong>; prices are influenced by factors like proximity to the beach and amenities.<\/li>\n\n\n\n<li><strong>How to Refine Your Needs<\/strong> Before Buying: purpose (investment\/leisure\/permanent residence), preferred town and micro-location, budget (with a buffer for 10\u201315% transaction costs), requirements for size, terrace, parking, pool, etc.<\/li>\n\n\n\n<li><strong>Purchase Process Step-by-Step<\/strong>: from selecting offers and viewings, through reservation (3\u201310k \u20ac), obtaining the <strong>NIE<\/strong> number, the <strong>preliminary contract (arras)<\/strong> with a deposit of approx. 10%, to the <strong>public deed<\/strong> and property registry entry.<\/li>\n\n\n\n<li><strong>Actual Transaction Costs<\/strong> (Andalusia):\n<ul class=\"wp-block-list\">\n<li>Resale market: <strong>ITP 7%<\/strong>;<\/li>\n\n\n\n<li>New build market: <strong>VAT 10% + AJD approx. 1.2%<\/strong>;<\/li>\n\n\n\n<li>Notary and registry fees combined typically approx. <strong>1\u20131.5%<\/strong>;<\/li>\n\n\n\n<li>legal fees approx. <strong>1\u20131.5%<\/strong>; plus translation\/potential loan costs.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Maintenance Costs<\/strong>: IBI (approx. <strong>\u20ac300\u2013\u20ac600 annually<\/strong> for a typical apartment), community fees <strong>~\u20ac50\u2013\u20ac300+ monthly<\/strong> depending on amenities, utilities <strong>~\u20ac50\u2013\u20ac100 monthly<\/strong>, insurance (a few hundred \u20ac annually). <strong>Tourist rentals<\/strong> require a license and compliance with standards.<\/li>\n\n\n\n<li><strong>Financing in Spain<\/strong>: for non-residents, typically <strong>60\u201370% LTV<\/strong> (30\u201340% down payment), period of <strong>20\u201325 years<\/strong>, interest rates based on Euribor + margin; documented income required.<\/li>\n\n\n\n<li><strong>Safety Checklists<\/strong>: verify the developer\/seller, <strong>Nota Simple<\/strong>, encumbrances and licenses (e.g., for rentals), technical condition, realistic timelines, and patience with procedures.<\/li>\n\n\n\n<li><strong>How I.I.Marbella Helps<\/strong>: verified offers (new and resale), full support in Polish\/Spanish\/English, &#8220;turnkey&#8221; process from NIE to notary and post-purchase management, <strong>no buyer&#8217;s commission<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Costa del Sol (Eng. *Coast of Sun*) is one of the most attractive regions in Spain for those dreaming of their own apartment by the sea. This sunny stretch of the Andalusian coast offers over 300 days of sunshine a year, beautiful sandy beaches, and a mild Mediterranean climate. It&#8217;s no wonder it attracts not only tourists from around the world but also investors and people seeking a second home abroad. Costa del Sol is known for its renowned resorts (Marbella, Estepona, Benalm\u00e1dena, Torremolinos, and others), excellent tourist infrastructure, and proximity to a major city \u2013 Malaga, home to an international airport with numerous connections.<\/strong><\/p>\n\n\n\n<p>For prospective apartment owners, this region offers many advantages. Firstly, it provides a <strong>high quality of life<\/strong> \u2013 you can enjoy relaxing in the sun practically all year round, savor local cuisine, and feel the holiday atmosphere every day. Secondly, the local real estate market is stable and open to foreign buyers. Spanish law well protects the rights of owners, both residents and non-residents, providing security for purchases. Thirdly, acquiring an apartment on the Costa del Sol is often seen as a <strong>safe capital investment<\/strong> \u2013 property prices in prime locations tend to be stable or grow steadily, and with holiday rentals, you can expect attractive income. In popular tourist destinations, annual income from short-term rentals can reach several to over a dozen percent of the apartment&#8217;s value.<\/p>\n\n\n\n<p>It is worth emphasizing that <strong>Costa del Sol<\/strong> enjoys a reputation as a region resilient to economic fluctuations. Even during economic downturns, demand for real estate in this area remains strong thanks to international interest \u2013 not only Europeans (including an increasing number of Poles) invest here, but also citizens of the USA, Canada, and Asian countries. An additional advantage is that prices for many apartments in southern Spain can be more favorable than for comparable properties on the Baltic coast. In short, <strong>Costa del Sol<\/strong> is a paradise for sun lovers and an excellent location to buy an apartment for personal use or as an investment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What are apartments on the Costa del Sol? Characteristics and Types<\/h2>\n\n\n\n<p>An <strong>apartment<\/strong> in Spain generally refers to a dwelling, most often located in a multi-family building or within a gated community. In the Polish understanding, this can correspond to both a standard apartment and a higher-standard unit \u2013 on the Spanish coast, many properties meet the criteria of luxury apartments due to their attractive location and amenities. Apartments on the Costa del Sol are often situated in complexes with swimming pools, gardens, gyms, or security. Available options range from small <strong>studios<\/strong> or one-bedroom apartments ideal for couples to spacious <strong>penthouses<\/strong> (apartments on the top floors, often with large terraces and panoramic sea views). The offer also includes ground-floor apartments with private gardens, duplex apartments, or dwellings in intimate twin houses known as <strong>bungalows<\/strong>.<\/p>\n\n\n\n<p>The most significant distinction you&#8217;ll encounter as a buyer is between the <strong>new build market<\/strong> and the <strong>resale market<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>New Build Apartments<\/strong> \u2013 These are new units sold directly by the developer. Such developments are ongoing throughout the coast. Purchasing a <strong>new apartment directly from the developer<\/strong> often provides the opportunity to choose interior finishes according to your taste (within offered options) and guarantees modern construction standards. Importantly, the <strong>Spanish developer standard<\/strong> differs from the Polish one \u2013 in Spain, new apartments are handed over to buyers <strong>&#8220;turnkey&#8221; finished<\/strong>, meaning fully equipped kitchens and bathrooms, laid flooring, and built-in wardrobes. This allows for immediate occupancy after handover, without the need for costly finishing work. Developers on the Costa del Sol often offer amenities such as air conditioning, smart home systems, and on their developments \u2013 swimming pools, SPAs, or nearby golf courses. Another advantage of the new build market can be a <strong>lower price per square meter<\/strong> during the pre-sale phase \u2013 buying early in the construction process can secure a promotional price and phased payments based on construction progress. However, one must remember that you will have to wait for the handover of such an apartment (from a few months to even 2 years when buying &#8220;off-plan&#8221;).<\/li>\n\n\n\n<li><strong>Resale Apartments<\/strong> \u2013 These are <strong>used properties<\/strong> that have had previous owners. Their biggest advantage is being <strong>ready to move in immediately<\/strong> \u2013 you buy and can start using the property right away (provided it&#8217;s in good technical condition or after minor refresh). The resale market on the Costa del Sol is very extensive: from affordable apartments in older buildings to exclusive apartments in modern residences built a few years ago. It is often easier to find <strong>bargains<\/strong> or properties in the best, central locations on the resale market \u2013 in places where new construction is no longer possible due to lack of land. However, one must be prepared for the fact that an older apartment may require renovation or modernization (e.g., replacing air conditioning, updating decor, renovating the kitchen). It is advisable to check the technical and legal condition of such a property before purchasing. A significant advantage can be the <strong>established surroundings<\/strong> \u2013 on resale developments, vegetation is fully mature, homeowners&#8217; associations are active, and you know what the neighborhood has been like over the years.<\/li>\n<\/ul>\n\n\n\n<p><strong>Costa del Sol<\/strong> offers apartments in various standards and price ranges. The most expensive are naturally those on the frontline with sea views and those located in prestigious cities like <strong>Marbella<\/strong> or the exclusive municipality of <strong>Benahav\u00eds<\/strong>. Average property prices in these areas are among the highest in the region (even exceeding \u20ac4,000 per m\u00b2). In contrast, in towns like <strong>Mijas<\/strong> or <strong>Benalm\u00e1dena<\/strong>, somewhat less frequented by the wealthiest investors, prices are moderate, often ranging from \u20ac2,500\u2013\u20ac3,000 per m\u00b2. Naturally, many factors influence the cost: proximity to the beach, finishing standards, amenities (pool, parking, security), and current market conditions. If you are looking for a <strong>bargain<\/strong>, you need to be patient \u2013 with high demand on the Costa del Sol, true gems sell very quickly and rarely fall below typical market rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Consider Before Buying \u2013 Location and Personal Needs<\/h2>\n\n\n\n<p>Before proceeding with concrete steps to buy an apartment, it&#8217;s wisely to clearly define your expectations and priorities. <strong>Buying property abroad<\/strong> is a significant decision, so the better you define what you&#8217;re looking for, the smoother the entire process will be. Here are some key issues to consider:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Purpose of Purchase:<\/strong> Will the apartment primarily serve as an investment (with the intention of generating rental income), or will it be a <strong>holiday home for you and your family<\/strong>? Or perhaps you plan to move permanently to the Spanish coast? Defining the purpose will help you choose the right type of property and location. Short-term rentals yield the best returns in apartments close to the sea and tourist attractions, while for comfortable permanent living, many people prefer quieter, residential areas with good infrastructure (shops, schools, clinics).<\/li>\n\n\n\n<li><strong>Preferred Town\/Region:<\/strong> <strong>Costa del Sol<\/strong> stretches for about 300 km of coastline \u2013 from the vicinity of Gibraltar in the west, through the province of Malaga, to the border with Costa Tropical in the east. Do you prefer to live in a vibrant resort full of tourists, or rather in an intimate town? The region&#8217;s largest city is <strong>Malaga<\/strong> (a cultural hub and transport center), but many foreigners choose smaller towns: <strong>Marbella<\/strong> tempts with luxury and a rich entertainment offer, <strong>Estepona<\/strong> has retained the charm of a traditional Andalusian town, <strong>Fuengirola<\/strong> and <strong>Torremolinos<\/strong> offer beautiful beaches and numerous attractions for families, while for example, <strong>Benalm\u00e1dena<\/strong> or <strong>Mijas Costa<\/strong> combine proximity to the sea with a slightly calmer pace of life. Each location has its advantages \u2013 it&#8217;s good to visit a few to get a feel for the atmosphere and decide where you&#8217;ll feel most at home.<\/li>\n\n\n\n<li><strong>Budget:<\/strong> Before starting your search, determine the <strong>maximum budget<\/strong> you can allocate for the purchase, and possibly additional funds for finishing or renovation. Remember that beyond the price of the apartment itself, you must account for approximately 10\u201315% of the property value for taxes and transaction fees (we discuss cost details further). Also, consider whether you will finance the purchase entirely from your own savings or if you plan to <strong>use a mortgage<\/strong>. If you need a loan in Spain, it&#8217;s advisable to check your creditworthiness in advance \u2013 this will help avoid disappointment when you find your dream property.<\/li>\n\n\n\n<li><strong>Property Requirements:<\/strong> Specify what kind of apartment you are looking for in terms of <strong>size and layout<\/strong>. How many bedrooms and bathrooms do you need? Are you interested in a large terrace with a sea view, a private garden, or perhaps spacious bedrooms? Is access to a swimming pool, gym, or parking space essential for you? Consider whether you prefer a <strong>modern apartment<\/strong> with high standards, or a charming apartment in a traditional style (which might, however, require renovation). <strong>Micro-location<\/strong> is also important \u2013 proximity to the beach, town center, shops and restaurants, airport, golf courses, or other amenities that are significant to you. The more precisely you define your criteria, the easier it will be for you (and any agency you work with) to find offers that best match your needs.<\/li>\n<\/ul>\n\n\n\n<p>Considering the above issues before starting your search will save time and help you focus on listings that are likely to meet your expectations. Many first-time buyers initially have very broad requirements (&#8220;I want a nice apartment somewhere in Spain by the sea&#8221;), but the sooner you specify the details, the more efficiently you will move from dreams to the realization of your plan to purchase the ideal apartment on the Costa del Sol.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How is the process of buying an apartment in Spain? \u2013 Step by Step<\/h2>\n\n\n\n<p>Purchasing property in Spain for a Polish citizen (and generally for citizens of the European Union) is a relatively straightforward procedure, but certain formalities need to be completed. Below, we outline the main <strong>stages of buying an apartment<\/strong> on the Costa del Sol, along with important points to remember:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>Searching for Offers and Choosing an Agency<\/strong> \u2013 With defined criteria, you can start browsing available listings. Numerous portals operate online (including in Polish), but the best solution is to collaborate with a <strong>local real estate agency<\/strong>. An experienced agent familiar with the Costa del Sol market will present you with verified offers that meet your requirements and help you avoid pitfalls. Importantly, in Spain, the agency&#8217;s commission is usually covered by the seller, so for the buyer, agency services are <strong>free<\/strong>. When choosing an agency, check its experience and credibility \u2013 opt for a company that has been operating locally for years and has good client reviews.<\/li>\n\n\n\n<li><strong>Property Viewing and Selection<\/strong> \u2013 Once you have shortlisted several interesting apartments, it&#8217;s time to view them <strong>in person<\/strong>. You can arrange a visit to the Costa del Sol \u2013 many Poles combine this with a short holiday during which they explore the region and view selected properties. A real estate agency will help you plan such a trip by arranging viewings of chosen apartments. Remember that the best offers can disappear from the market quickly \u2013 if you plan to visit in a few weeks, have a list of alternative properties, as some of your initially selected ones might be sold in the meantime. Once you find an <strong>apartment that meets your expectations<\/strong>, it&#8217;s time to formalize the transaction.<\/li>\n\n\n\n<li><strong>Reservation Agreement (Optional)<\/strong> \u2013 In Spain, a common practice is to sign a reservation agreement (Reserva) and pay a small reservation deposit, typically <strong>from \u20ac3,000 to \u20ac10,000<\/strong>, to take the property off the market. This agreement is a simple document where the seller commits not to offer the apartment to other buyers for a specified period, and both parties provisionally agree on the transaction price. The reservation gives you time to gather documents, potentially secure a loan, or conduct a detailed check of the property&#8217;s legal status, without fear of being outbid. It is advisable to have even such a preliminary agreement reviewed by a specialist (e.g., your lawyer or agent) \u2013 it&#8217;s important to clearly define the conditions for returning the deposit if you withdraw and the deadlines for subsequent stages.<\/li>\n\n\n\n<li><strong>NIE Number<\/strong> \u2013 Concurrently or immediately after reservation, you must obtain an <strong>NIE number<\/strong> (<em>N\u00famero de Identificaci\u00f3n de Extranjero<\/em>). This is the <strong>essential identification number for foreigners<\/strong> in Spain, required for all legal transactions \u2013 without an NIE, you cannot buy property, open a Spanish bank account, or set up utility services in your name. Obtaining an NIE number is done at a police station in Spain or at the Spanish consulate in Poland. You can do it yourself, but the process can be time-consuming (especially in large cities where appointments must be made in advance). It&#8217;s good practice to use the help of an agency or lawyer who will guide you through the process and assist with document translation \u2013 this will help you avoid frustration and speed up obtaining your NIE.<\/li>\n\n\n\n<li><strong>Preliminary Contract (private contract, Spanish: contrato de arras)<\/strong> \u2013 This is the actual civil law contract concluded between the buyer and seller, usually within a few weeks of reservation. In the preliminary contract, the parties confirm their intention to proceed with the transaction and agree on the detailed terms of purchase: exact price, payment schedule, deadline for signing the public deed of transfer of ownership, any included furnishings, etc. Upon signing this contract, a <strong>deposit of approximately 10% of the property price<\/strong> is typically paid (the deposit amount can vary, depending on the agreement \u2013 sometimes 5%, sometimes even 20\u201330%, but 10% is most common). The deposit secures both parties: if the buyer withdraws without cause, they forfeit the deposited sum, and if the seller breaks the contract, they must return <strong>double the deposit amount<\/strong> to the buyer. The preliminary contract should always be reviewed by a lawyer specializing in Spanish real estate to ensure it includes all necessary clauses protecting your interests (e.g., that the deposit will be returned if you fail to obtain a loan, or that the seller will clear any debts encumbering the property before completion). This stage is also when you conduct <strong>full due diligence<\/strong> \u2013 your lawyer or agent will thoroughly check the legal status of the apartment: the property registry, whether the property has any mortgages, overdue payments, illegal modifications, or third-party claims, and whether it has the necessary permits (e.g., a tourist license, if you intend to rent it out short-term). Only when you are certain everything is in order, you proceed safely to the final purchase.<\/li>\n\n\n\n<li><strong>Public Deed (Escritura P\u00fablica)<\/strong> \u2013 The final step is signing the public deed transferring ownership of the apartment to you. This takes place before a Spanish notary. For the scheduled date, you must have the funds to pay the <strong>remaining price<\/strong> (less the deposit paid) and the money for taxes and fees associated with the transaction \u2013 these are usually also settled on the day of signing before the notary. When purchasing from the resale market, the final payment is typically made by <strong>banker&#8217;s draft<\/strong> handed to the seller at the notary&#8217;s office (this draft is issued by your bank in Spain). When buying new builds, the developer may accept a bank transfer \u2013 details are arranged in advance. At the notary&#8217;s meeting, a sworn translator is usually present, or you will have a Spanish-speaking representative (if you don&#8217;t know the language well) to ensure you fully understand the document&#8217;s content. After signing the public deed, you officially become the owner of the property. Congratulations \u2013 you have your apartment on the Costa del Sol! \ud83c\udf89<\/li>\n\n\n\n<li><strong>Property Registration<\/strong> \u2013 After receiving the signed public deed, the notary reports the transaction to the relevant <strong>Registro de la Propiedad<\/strong> (the equivalent of the Polish land and mortgage register). Entry in the registry confirms your ownership rights against third parties. This formality is usually handled by the notary or your lawyer for a small fee, but ensure it is completed. After a few weeks, you can collect an official extract confirming the registration.<\/li>\n<\/ol>\n\n\n\n<p>The entire purchase process \u2013 from finding the property to the final deed \u2013 can be completed in as little as 3\u20134 weeks if you pay in cash and all documents are ready. However, typically, it takes around <strong>1\u20133 months<\/strong> to safely complete the transaction (longer if you are waiting for mortgage approval). Keep in mind that the timeline can vary depending on the parties&#8217; agreement \u2013 some buyers need more time to complete formalities, and sometimes the seller requests additional weeks, for example, to sort out their affairs or move out. It is important to <strong>stay in touch<\/strong> with the agency and lawyer who will coordinate the next steps, inform you about necessary documents, and ensure deadlines are met.<\/p>\n\n\n\n<p>At each of the above steps, a good understanding of the procedures is crucial \u2013 if you don&#8217;t fluently speak Spanish, don&#8217;t worry. On the Costa del Sol, there are many real estate agencies serving clients in Polish, English, or German. Therefore, you can go through the entire process in your native language with the help of <strong>bilingual experts<\/strong>. Working with a trusted agency significantly simplifies the purchase: from recommending reliable lawyers and translators, through assisting with price negotiations, to accompanying you at the notary&#8217;s office. This way, even without experience in foreign transactions, you can avoid common pitfalls and successfully conclude the matter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Costs of Buying an Apartment on the Costa del Sol (Taxes and Fees)<\/h2>\n\n\n\n<p>When planning your budget, remember that the property price is not the only expense. The purchase involves <strong>additional costs<\/strong>, which in Andalusia amount to approximately 10\u201313% of the resale property price, and about 12\u201315% for new builds. Here are the main components:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Property Purchase Tax<\/strong> \u2013 for the <strong>resale market<\/strong>, this is the Property Transfer Tax (Spanish: <em>Impuesto de Transmisiones Patrimoniales<\/em>, <strong>ITP<\/strong>). In all of Andalusia, the ITP rate is currently <strong>7%<\/strong> of the purchase price (a unified rate since 2021). For <strong>new properties from developers<\/strong>, instead of ITP, you pay Value Added Tax (VAT, Spanish: <em>IVA<\/em>) at a rate of <strong>10%<\/strong>, plus the Stamp Duty tax (Spanish: <em>Actos Jur\u00eddicos Documentados<\/em>, <strong>AJD<\/strong>) of approx. <strong>1.2%<\/strong>. In summary: if you buy a resale apartment for e.g. \u20ac200,000, you will pay approx. \u20ac14,000 in ITP, and when buying the same new apartment from a developer \u2013 \u20ac20,000 VAT + \u20ac2,400 AJD.<\/li>\n\n\n\n<li><strong>Notary and Registry Fees<\/strong> \u2013 preparing the <strong>public deed<\/strong> incurs a fee for the notary, depending on the property&#8217;s value and the number of pages in the document. It typically ranges from <strong>0.5% to 1%<\/strong> of the property price. Additionally, there&#8217;s the cost of entry into the property registry \u2013 of a similar magnitude, approx. <strong>0.5%<\/strong> of the price. These fees are regulated by law and are difficult to reduce in practice \u2013 every buyer must pay them.<\/li>\n\n\n\n<li><strong>Legal Fees<\/strong> \u2013 although not legally required, the vast majority of foreign buyers use the services of a <strong>Spanish lawyer (asesor jur\u00eddico)<\/strong> or a Polish-speaking advisor who ensures the transaction&#8217;s security. A lawyer checks documents, prepares contracts, represents you in government offices, and can often act under power of attorney if you cannot be present in person. The lawyer&#8217;s fee for comprehensive purchase support usually amounts to <strong>1\u20131.5% of the property value<\/strong> (agreed individually). This is an additional cost, but worth incurring for your peace of mind and investment protection.<\/li>\n\n\n\n<li><strong>Translations and Power of Attorney<\/strong> \u2013 if you do not speak Spanish, a <strong>sworn translator<\/strong> is required at the signing of the public deed (unless the deed is bilingual). Their service costs a few hundred euros. Notary offices often have sworn translators for various languages, including Polish, on their regular staff. Additionally, if you grant power of attorney (e.g., to a lawyer for obtaining NIE or signing contracts on your behalf), you must draft a <strong>notarial power of attorney deed<\/strong>, which costs a few dozen euros in Spain (or several hundred zlotys in a Polish notary office including translation and apostille).<\/li>\n\n\n\n<li><strong>Potential Loan Costs<\/strong> \u2013 if you finance the purchase with a <strong>mortgage<\/strong>, bank fees will be added to the aforementioned costs. The bank usually requires a property valuation (approx. \u20ac300\u2013\u20ac500), charges a loan origination fee (from 0 to 1% of the loan amount, depending on the offer), and will require property and borrower life insurance (terms vary between banks). Also, remember the cost of translating financial documents if the bank requests it, and potential fees for opening an account in Spain.<\/li>\n<\/ul>\n\n\n\n<p>The good news is that <strong>real estate agents do not charge commission to the buyer<\/strong> \u2013 typically, the seller (owner) remunerates the agency from the sale proceeds. Thus, you can use the services of <strong>I.I.Marbella<\/strong> or any other agency on the Costa del Sol without additional fees, which does not impact your purchase budget.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Cost of Maintaining an Apartment in Spain<\/h2>\n\n\n\n<p>Owning your own apartment on the Costa del Sol involves regular expenses for its upkeep. Here are the most important ones:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Property Tax (IBI)<\/strong> \u2013 an annual local tax on property ownership, equivalent to the Polish property tax. Its amount depends on the municipality and the property&#8217;s <strong>cadastral value<\/strong>. The rate usually ranges from <strong>0.4% to 1.1%<\/strong> of the cadastral value annually. For orientation: for an apartment with a market value of \u20ac250,000, the IBI tax might be around \u20ac300\u2013\u20ac600 per year. IBI payments are made once a year (the deadline is set by the municipality, often in autumn).<\/li>\n\n\n\n<li><strong>Community Fee (Caretaker&#8217;s Fee)<\/strong> \u2013 most apartments on the coast belong to a homeowners&#8217; association (Spanish: <em>comunidad<\/em>) that manages the building or complex. The monthly fee to the community covers the maintenance of common areas: garden, pool, elevator, cleaning, security, lighting, etc. The amount of the fee depends on the standard of the development and its amenities. It can be <strong>\u20ac50\u2013\u20ac100 monthly<\/strong> in a simple building without amenities, but in luxury complexes with pools, gyms, and reception, the fee can exceed <strong>\u20ac200\u2013\u20ac300 monthly<\/strong>. Before buying, it&#8217;s advisable to inquire about the amount of this fee, as it will be a constant part of your budget.<\/li>\n\n\n\n<li><strong>Utilities<\/strong> \u2013 as an owner, you will pay bills for <strong>electricity, water, gas<\/strong> (if applicable), garbage collection, and possibly internet\/TV. Utility costs are similar to or slightly higher than in Poland. Electricity and water are often billed every two months. Estimating conservatively, for a two-bedroom apartment, you can expect <strong>around \u20ac50\u2013\u20ac100 monthly<\/strong> for utilities with moderate usage. Electricity consumption increases in summer (air conditioning) and winter if heating is electric. Garbage collection is a separate annual fee of several dozen euros (varies by region and municipality).<\/li>\n\n\n\n<li><strong>Property Insurance<\/strong> \u2013 not mandatory (unless required by the bank for a mortgage), but highly recommended. An annual home insurance policy in Spain costs a few hundred euros, depending on the coverage (accidents, theft, liability, etc.). It provides financial protection in case of, for example, flooding, fire, or burglary.<\/li>\n\n\n\n<li><strong>Optional Costs \u2013 Management, Travel<\/strong>: If you plan to leave the apartment empty for extended periods (e.g., you will only visit for holidays), it is worth entrusting its care to a local property manager or a trusted neighbor. <strong>Property management<\/strong> (receiving mail, inspecting the unit, paying bills) is an additional service for which you pay according to an agreement. Furthermore, if you plan to <strong>rent out the apartment to tourists<\/strong>, you can engage a professional company to handle rentals (cleaning, key handover, advertising) \u2013 this might cost, for example, 20% of rental income but will relieve you of most duties. Also, don&#8217;t forget to factor in the costs of flights between Poland and Spain if you plan frequent visits \u2013 fortunately, low-cost airlines serve Malaga, and you can find good deals on tickets.<\/li>\n\n\n\n<li><strong>Rental Income Taxes<\/strong> \u2013 this point applies only if you will be <strong>renting out your apartment<\/strong> (short-term to tourists or long-term). As a non-resident of Spain, you will pay tax (<strong>IRNR<\/strong>) on rental income at a rate of 19% of net profit (for residents, income tax IRPF applies according to the scale). Also, remember local regulations: in Andalusia, <strong>tourist rentals require a license<\/strong> \u2013 you must register the property with the relevant authority and meet certain standards (including air conditioning, ventilation, fire extinguisher, complaint book). If you are buying an apartment for short-term rental, make sure the property already has a license or that the building&#8217;s internal regulations do not prohibit tourist rentals.<\/li>\n<\/ul>\n\n\n\n<p>In summary, maintaining your own apartment involves certain monthly and annual expenses, but many of them can be foreseen and planned. Before purchasing, it&#8217;s advisable to ask the seller for information such as the amount of the community fee, the last IBI bill, and average utility costs. With such data, you can better assess whether you can afford the comfort of owning property on the Costa del Sol in the long term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Financing Your Purchase \u2013 A Mortgage in Spain<\/h2>\n\n\n\n<p>If you don&#8217;t have the full amount needed to buy an apartment, it&#8217;s possible to obtain a <strong>mortgage in Spain<\/strong>. Spanish banks are generally willing to lend to foreign buyers, although they have certain conditions. Here&#8217;s what you need to know about financing your purchase:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Down Payment<\/strong> \u2013 Spanish banks typically require a higher down payment than banks in Poland. As a non-resident, you can usually get a loan for a maximum of <strong>60\u201370% of the property value<\/strong>, meaning you need to have <strong>30\u201340% of the price<\/strong> in cash. For residents (people living and working in Spain), conditions can be slightly more favorable, sometimes allowing up to 80% financing. In practice, be prepared that for an apartment costing \u20ac300,000, a bank would expect around \u20ac90,000\u2013\u20ac120,000 as a down payment. This down payment must come from documented sources (savings, sale of another property, company funds, etc.).<\/li>\n\n\n\n<li><strong>Creditworthiness<\/strong> \u2013 The bank will analyze your income and financial obligations. If you earn income in Poland, they will likely ask for bank statements, income certificates, or tax declarations. It&#8217;s important to have a positive credit history. For individuals employed under a contract or running a stable business, obtaining a loan should not be a problem, provided their income allows for loan repayment. The principle is generally similar to Poland: the total monthly obligations should not exceed a certain percentage of net income (e.g., 35\u201340%). Financial documents must be provided in Spanish or English \u2013 sometimes a sworn translation of Polish documents will be necessary.<\/li>\n\n\n\n<li><strong>Loan Terms<\/strong> \u2013 Interest rates on euro loans can be variable (based on Euribor + bank margin) or fixed. In recent years, interest rates in the euro zone have been record low, tempting investors to take out cheap loans. Currently, interest rates have risen slightly but can still be attractive. For example, the bank&#8217;s margin might be around 1\u20131.5%, and the 12-month Euribor fluctuates around a few percent \u2013 so the total APR of the loan could be around 4\u20135% per year (these are only approximate figures, depending on market conditions). The loan term typically extends to <strong>20\u201325 years<\/strong> (sometimes up to 30 years, depending on the borrower&#8217;s age). Banks often require you to take out property and life insurance with them \u2013 which increases costs but can be a condition for a better margin.<\/li>\n\n\n\n<li><strong>Loan Application Process<\/strong> \u2013 It&#8217;s best to contact a mortgage advisor or the bank directly even before signing the reservation agreement to preliminarily assess your chances. If everything looks good, the bank will issue a <strong>preliminary loan commitment<\/strong>. After signing the preliminary contract, the formal process begins: property valuation by an appraiser (ordered by the bank, you cover the cost), document collection, and final loan decision. The entire process usually takes several weeks. It&#8217;s important to <em>ensure sufficient time in the preliminary contract<\/em> for obtaining the loan \u2013 typically, about 2\u20133 months until the public deed is recommended when buying with a loan. Once the loan is approved, the bank will prepare the funds for the day of signing the deed before the notary.<\/li>\n\n\n\n<li><strong>Alternatives<\/strong> \u2013 Some Polish clients choose other financing methods: for example, taking out a mortgage in Poland (against property collateral in Poland) and using those funds to buy in Spain with cash. This solution bypasses Spanish formalities but naturally requires having assets in Poland and sufficient creditworthiness. Others use foreign currency loans from Polish banks (some offer loans in EUR for purchasing foreign property, but this is rare and subject to restrictions). In practice, however, the simplest path is a loan from a Spanish bank \u2013 <strong>local mortgage advisors<\/strong> can help you choose the best offer from several banks and guide you through the process.<\/li>\n<\/ul> \n\n\n\n<p>In summary, <strong>financing is widely available<\/strong> in Spain, but it&#8217;s advisable to have a substantial down payment secured and be prepared for additional paperwork. With a well-managed process, a loan will not significantly delay the purchase and will enable you to acquire your dream apartment, even if you don&#8217;t have the full amount in your account. Just remember to carefully calculate your capacity \u2013 in addition to loan installments, include property maintenance costs and potential exchange rate fluctuations (if your income is in zlotys and the loan is in euros).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Look Out For Before Finalizing Your Purchase \u2013 Practical Tips<\/h2>\n\n\n\n<p>Buying an apartment on the Costa del Sol is an exciting undertaking, but it&#8217;s wise to maintain common sense and be cautious. Here are some tips and <strong>important considerations<\/strong> that a new investor should keep in mind before finalizing the transaction:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Verify the Credibility of Sellers and Agents.<\/strong> If you are buying from a developer \u2013 check their reputation, history of previous projects, and ensure the development has all necessary building permits. When buying on the resale market \u2013 ensure the seller is the actual owner (check the property registry extract) and that there are no other co-owners unaware of the sale. Regarding real estate agencies: use <strong>experienced agencies<\/strong> that have been on the market for years. A professional agent will have client references as well as membership in local industry associations. Avoid random individuals claiming to be &#8220;friends of the seller&#8221; who promise great deals \u2013 unfortunately, there are scammers preying on unsuspecting foreigners.<\/li>\n\n\n\n<li><strong>Thoroughly Check the Property&#8217;s Legal Status.<\/strong> This point largely overlaps with the lawyer&#8217;s due diligence actions, but it&#8217;s worth knowing what to look for. Before signing the public deed, you should receive a <strong>Nota Simple<\/strong>, which is an extract from the property registry. It contains information about the owner, mortgage encumbrances, easements, and any debts. Make sure any mortgage (if present) will be paid off at or before the sale, and that the apartment has no outstanding bills, such as community arrears. Also, check if the property has an <strong>Energy Performance Certificate<\/strong> (a requirement for sale in Spain \u2013 the building&#8217;s energy certificate) and if there are any tenants with rights to the property. Finally, if you plan tourist rentals, confirm the <strong>license status<\/strong> \u2013 ask for the license number or check if it can be obtained.<\/li>\n\n\n\n<li><strong>Technical Condition and Hidden Defects.<\/strong> For new developer apartments, you typically receive a multi-year warranty, and before handover, the unit is inspected for defects (a &#8220;snagging list&#8221; for corrections). However, for resale properties, it&#8217;s advisable to assess the unit&#8217;s condition yourself or with a professional: whether the installations (electrical, plumbing, air conditioning) work flawlessly, if there are no signs of dampness or mold, how well the windows seal (important with strong coastal winds), etc. Ask the seller about the construction year and materials \u2013 for example, older buildings might require improved insulation or elevator modernization. Of course, you won&#8217;t always detect everything, but keep potential renovation costs in mind and <strong>include them in your budget<\/strong>. Minor fixes are often unavoidable, especially when buying a furnished apartment and deciding to customize it to your needs.<\/li>\n\n\n\n<li><strong>Time and Patience.<\/strong> Spain is known for its rather relaxed pace of handling official matters. Be patient with formalities such as obtaining an NIE number, opening a bank account, or waiting for registration. Everything will be sorted out, but it <strong>may take longer<\/strong> than similar procedures in Poland. The decision-making process should also be adapted to market realities \u2013 the best offers disappear quickly, so if you find your ideal apartment, don&#8217;t delay your decision excessively. On the other hand, <strong>do not act hastily under pressure<\/strong>. Strive for a balance between acting quickly and exercising reason \u2013 again, a good agent who knows the market can help advise whether a particular offer is truly a &#8220;once-in-a-lifetime opportunity&#8221; or just a seller&#8217;s marketing tactic.<\/li>\n\n\n\n<li><strong>Ask About Everything That Raises Your Doubts.<\/strong> There are no stupid questions, especially when investing your life savings in a property abroad. If you don&#8217;t understand something in a contract, ask your lawyer. If you&#8217;re unsure about how taxes for foreigners work, ask for an explanation. You have the right to know what you are signing and what you are paying for. Professional advisors will gladly clear up your doubts. This way, you will avoid unpleasant surprises.<\/li>\n<\/ul>\n\n\n\n<p>Ensuring these points are covered will make the purchase <strong>safe and stress-free<\/strong>. Many problems are encountered by those who try to act alone without understanding local realities \u2013 by using proven methods and expert support, you increase your chances of a successful investment and satisfaction with your new apartment on the sunny coast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">I.I.Marbella Offer \u2013 Secure Investment with Professional Support<\/h2>\n\n\n\n<p>If you are looking for a trusted partner to assist you with buying property on the Costa del Sol, it&#8217;s worth getting to know <strong>I.I.Marbella (International Investment Marbella)<\/strong>. This is a Polish real estate agency operating in southern Spain for over 20 years, with its headquarters in Marbella. Thanks to such extensive experience and excellent knowledge of the local market, this company has become a <strong>guide<\/strong> for many investors in the world of Spanish real estate. What distinguishes the offer of <strong>I.I.Marbella<\/strong>?<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Extensive Property Database<\/strong> \u2013 The agency offers a <strong>wide selection of apartments<\/strong> and houses from both the new build and resale markets. Clients with various financial capabilities will find something for themselves here. I.I.Marbella&#8217;s catalog includes both affordably priced apartments ideal for starting out and spectacular luxury villas with sea views. The company constantly monitors new developer projects \u2013 ensuring clients have access to the <strong>latest offers<\/strong> often before their official launch. For example, I.I.Marbella promotes modern apartments in prestigious complexes like <strong>Golden Eight in Marbella<\/strong> or <strong>The Sapphire in Estepona<\/strong>, but also knows local gems on the resale market that can represent excellent opportunities. Importantly, every property offered is previously <strong>verified<\/strong> for legal status and technical condition \u2013 the agency focuses on filtering offers to present clients only those worth considering.<\/li>\n\n\n\n<li><strong>Multilingual Service and Expert Advice<\/strong> \u2013 The I.I.Marbella team includes advisors who speak <strong>Polish, Spanish, and English<\/strong>, facilitating communication and handling of formalities. Buyers from Poland can count on full service in their native language \u2013 from the initial contact, through property viewings, to signing the contract before the notary. <strong>I.I.Marbella experts<\/strong> assist with all key steps: obtaining the NIE number, opening a bank account, translating and explaining documents, and negotiating prices with the seller. Importantly, the company collaborates with trusted lawyers and notaries, so the client receives comprehensive legal support. With such assistance, even someone who doesn&#8217;t speak Spanish and is unfamiliar with local regulations can feel confident and secure during the transaction.<\/li>\n\n\n\n<li><strong>Comprehensive &#8220;Turnkey&#8221; Service<\/strong> \u2013 I.I.Marbella&#8217;s role doesn&#8217;t end with finding you an apartment. Their philosophy is to guide the client <strong>from A to Z<\/strong>. What does this mean in practice? After defining requirements, the agency searches for suitable offers, arranges viewings (including via video if the client is still in Poland), and then assists with all agreements with the seller. After selecting a property, advisors help gather documents, secure financing (if needed, also by contacting mortgage advisors), and then manage the legal process \u2013 property checks, preliminary contracts, notary. Even <strong>after the purchase<\/strong>, you can count on help with tasks such as transferring utility meters, organizing renovations, or finding a property management company for rentals. This <strong>&#8220;turnkey&#8221; care<\/strong> makes the entire process as convenient as possible and saves your time.<\/li>\n\n\n\n<li><strong>No Buyer&#8217;s Commission<\/strong> \u2013 As mentioned, the standard practice in the Spanish market is for the seller to remunerate the agency. <strong>I.I.Marbella charges no fees or commissions to buyers<\/strong>. This means you can benefit from their full support <strong>at no extra cost<\/strong>, paying only the price agreed upon with the seller. For many clients, this is still surprising (in Poland, agents usually charge a buyer&#8217;s commission), but in Spain, you can confidently engage an agent without worrying about their remuneration \u2013 the seller takes care of it, and you receive professional assistance for free.<\/li>\n<\/ul>\n\n\n\n<p>By choosing <strong>I.I.Marbella<\/strong>, you gain a partner who understands the needs of Polish clients in a foreign market exceptionally well. Through years of operation, the agency has accumulated a wealth of knowledge about local realities \u2013 they willingly share <strong>up-to-date information on market trends<\/strong>, new developments, and regulatory changes (e.g., tax or tourist rental regulations). All this is to ensure you can make an informed decision that is best for you. The result of such support is the buyer&#8217;s <strong>security<\/strong> and peace of mind \u2013 the entire process is smooth, safe, and stress-free.<\/p>\n\n\n\n<p><strong>In summary<\/strong>, <a href=\"https:\/\/www.iimarbella.com\/en\/properties\">buying an apartment in Spain on the Costa del Sol<\/a> is an excellent idea for both those seeking their own place in a warm climate and for investors looking to allocate capital into a stable asset. The key to success is good preparation: understanding local realities, considering your needs, and using the help of experienced professionals. We hope this guide has provided you with an overview of the <strong>most important aspects of purchasing<\/strong> and cleared up many doubts. Now, <strong>Costa del Sol<\/strong> is open to you \u2013 we wish you success in finding your dream apartment and many sunny days in your new place on earth!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FAQ \u2013 Frequently Asked Questions About Apartments on the Costa del Sol<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What are the main advantages of buying an apartment on the Costa del Sol?<\/strong><\/h3>\n\n\n\n<p>The main advantages are the exceptional climate with over 300 days of sunshine a year, a stable and attractive real estate market, high legal security of transactions, and the potential for income from holiday rentals. Additionally, the region offers excellent tourist infrastructure, access to Malaga airport, and a wide range of locations from luxury resorts to quieter towns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Can a foreigner easily buy an apartment in Spain?<\/strong><\/h3>\n\n\n\n<p>Yes, citizens of Poland and other EU countries have the full right to acquire property in Spain. It is only necessary to obtain the foreigner identification number NIE, which is required for signing the public deed, opening a bank account, or connecting utilities. The entire process is transparent and legally well-regulated.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is the difference between a new build and a resale apartment?<\/strong><\/h3>\n\n\n\n<p>The new build market offers new apartments directly from the developer, finished to a turnkey standard with modern amenities and personalization options. The resale market includes previously used properties, often available immediately and in central locations, but sometimes requiring renovation. Both options have their merits, and the choice depends on the individual investor&#8217;s needs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What additional costs should be considered when buying an apartment?<\/strong><\/h3>\n\n\n\n<p>Besides the purchase price, you should factor in taxes and transaction fees, which total about 10\u201315% of the property value. These include ITP or VAT and AJD taxes, notary fees, registry entry fees, legal fees, and translations. If purchasing with a mortgage, bank fees and property valuation costs are also added.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is it worth renting out an apartment to tourists, and what are the requirements?<\/strong><\/h3>\n\n\n\n<p>Short-term rentals on the Costa del Sol are very popular and can generate attractive income, often reaching several or even a dozen percent of the property&#8217;s value annually. To legally rent an apartment to tourists, it is necessary to obtain a tourist license and meet technical requirements such as air conditioning, ventilation, and appropriate equipment. Many homeowners&#8217; associations permit rentals, but it&#8217;s advisable to check the regulations and local laws before purchasing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What You&#8217;ll Learn From This Article: Costa del Sol (Eng. *Coast of Sun*) is one of the most attractive regions in Spain for those dreaming of their own apartment by the sea. This sunny stretch of the Andalusian coast offers over 300 days of sunshine a year, beautiful sandy beaches, and a mild Mediterranean climate. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[887,888],"tags":[],"class_list":["post-8598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-costa-del-sol"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/posts\/8598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/comments?post=8598"}],"version-history":[{"count":14,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/posts\/8598\/revisions"}],"predecessor-version":[{"id":8936,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/posts\/8598\/revisions\/8936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/media\/2575"}],"wp:attachment":[{"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/media?parent=8598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/categories?post=8598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iimarbella.com\/en\/wp-json\/wp\/v2\/tags?post=8598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}