Buying a New Build Apartment in Finestrat

Buying a New Build Apartment in Finestrat

Buying a new build apartment in Finestrat: a first home with the sea on the horizon

You open a terrace door nobody has opened before. The hills stretch out below you, the Benidorm skyline rises in the distance, and behind you stands the Puig Campana. Buying a new build apartment in Finestrat, Spain, in the urbanisations climbing from the AP-7 towards Sierra Cortina, Balcón de Finestrat or Finestrat Hills, means choosing an area that’s still growing.

Most purchases here are off-plan, although you may also find key-ready homes. Knowing which you’re dealing with changes your timeline, your payments and what you need to check.

Off-plan or key-ready: two very different purchases

Off-plan, the most common option

You buy before the building is finished, based on plans, renders and a specification. There are usually more units to choose from and payments are spread over the build, but you’ll have to wait and rely on the developer’s schedule.

• The timeline: ask about the expected completion date and what happens if it’s delayed.
• The stage payments: check how much you pay at each stage and how that money is protected.
• Your choice: make sure the contract confirms the orientation, floor, finishes and any customisation.

Key-ready, when available

There are fewer options, but you see the finished apartment, its real views and communal areas, and can start enjoying it much sooner. It can be a good choice if you don’t want to wait or find it hard to decide from a render.

What the render doesn’t show

These questions matter especially in a developing area:

• What will be built in front? Ask about neighbouring plots and check what planning allows with the town hall. A sea view can change.
• Is the development built in phases? Check which phase you’re buying and when the pool, gym and other communal areas will be ready.
• What will the community fees be? Ask for a written estimate, as a complex with many facilities also needs more maintenance.
• What will daily life be like? Drive the route to La Marina, the beach and the AP-7, and visit at different times to judge noise and nearby building work.
• What’s included in the price? Check the specification: a garage, storage room, fitted kitchen, air conditioning and furniture aren’t always included.

Before you pay a reservation deposit

An attractive development doesn’t replace the paperwork. Before you transfer any money, check these three points:

• The building licence (licencia de obras): once it’s granted, the developer must guarantee the return of your stage payments. If you’re asked to pay earlier, speak to a lawyer first.
• The bank guarantee or insurance: ask for the institution’s name and the document covering your payments.
• The first occupation licence (licencia de primera ocupación): don’t accept handover or sign the deeds without this document or its equivalent.

Comparing without pressure

I’m Martyna Kamińska, a licensed agent (API no. A419, RAICV no. 2891), working across the Costa Blanca and Costa Cálida with both new and resale homes. That means I can tell you whether it’s worth waiting for an off-plan development or whether a finished home in the same area would suit you better. I can explain everything in English, Spanish or Polish.

And when you collect the keys to an empty apartment from abroad, you won’t be starting from scratch: you’ll have our network of lawyers, tax advisers, interior designers and renovation teams.

Frequently asked questions about new builds in Finestrat

Are new builds in Finestrat mostly sold off-plan?
Yes, that’s the most common option here, although key-ready apartments can also come up. If you don’t want to wait, tell me from the start and we’ll focus on those.

How much should I add to the price of a new build in Finestrat?
As a general rule, 10% VAT (IVA) and 1.4% stamp duty (AJD): on a €350,000 apartment, that’s €39,900, before notary and land registry fees. Lower rates apply in some cases, so I’d advise confirming with a tax adviser.

Do I need to be in Spain while it’s being built?
Not necessarily, but ask how the developer will keep you updated. I’d plan to attend the handover yourself or arrange for someone to go through a snagging list on your behalf.

Is my sea view guaranteed?
No, unless the contract or planning gives you specific certainty. I’d ask what can be built in front and wouldn’t pay extra for a view until you’ve checked.

What if I’m also interested in a resale property?
That’s a sensible comparison here, as many resale homes are recent and key-ready. If you find one yourself, I also offer buyers a verification service before they sign the arras (deposit) contract.

Tell me which development you’re looking at

Send me the development you’re interested in or tell me how you picture your apartment, and I’ll tell you honestly what I’d check first, even if you don’t need an agent. You can call me on +34 622 91 98 87, email info@mkpremiumproperties.com or visit www.mkpremiumproperties.com.