New Build (Obra Nueva) vs Resale 2026: Pros, Traps, Tax
Wesna GroupThe Spanish new-build vs resale decision in 2026: sales tax load (10% IVA + AJD vs 10% ITP), 18-24 month wait vs 6-10 week close, deposit protection via aval bancario, 10-year structural warranty, and the practical trade-offs across price, timeline and finish choice.
The decision between a new-build (obra nueva) and a resale on the Spanish coast is not just about aesthetics. It changes what you pay in tax at signing, how long you wait for the keys, what deposit protection you get during construction, and how the sale contract enforces against a developer versus a private seller. Buyers who don't map these differences before starting a purchase tend to land in the wrong lane and regret it 12 months later.
This guide covers the 2026 legal, tax and practical differences that decide the choice.
The core differences at a glance
| Dimension | New build (obra nueva) | Resale (segunda mano) |
|---|---|---|
| Sales tax | 10% IVA + 1.5% AJD | 10% ITP (Comunidad Valenciana) |
| Notary + Registry fees | €900-€1,500 | €800-€1,300 |
| Timeline offer → keys | 18-24 months (off-plan) or 1-3 months (finished) | 6-10 weeks |
| Deposit stage payments | 20-30% during construction, protected by aval bancario | 10% arras contract only |
| Warranty | 10-year structural, 3-year finishes, 1-year defects | Statutory 3-year hidden defect only |
| Kitchen + finish choice | Yes, in off-plan phase | No |
| Community fees at handover | Set by developer | Set by community |
| Utility connections | Included in developer package | Buyer responsibility |
| Furnishing | Rarely included | Sometimes included |
Tax at signing
New build (obra nueva, first transmission): 10% IVA on the purchase price plus 1.5% AJD (Actos Jurídicos Documentados, notary tax on the deed). Total sales tax load: 11.5%.
Resale (segunda mano): 10% ITP (Impuesto sobre Transmisiones Patrimoniales) in the Comunidad Valenciana. In Murcia, ITP is 8%. In Andalucía, 7%. In Madrid, 6%.
Neither IVA nor ITP is deductible for private buyers. Both are transaction costs that leave the buyer's account permanently.
Timeline: what you're actually signing up for
Off-plan new build: 18-24 months from your reservation contract to key handover. Some phases stretch to 26-30 months if the developer hits municipal-licence delays or supply issues. Payments are staged: reservation deposit at contract signing (€3,000-€6,000), 20-30% at foundation phase, further tranches at structure and roof, balance at handover.
Completed new build (llave en mano): 1-3 months from reservation to keys. Developer has already finished. Same tax treatment as off-plan; different timeline.
Resale: 6-10 weeks from arras contract to notary. Fastest option in the Spanish market.
Deposit protection during construction
Since Law 20/2015, every Spanish developer taking off-plan stage payments must post an aval bancario (bank guarantee) or contract with a licensed insurance company. This means: if the developer goes bankrupt or fails to deliver, your staged payments are returned by the guarantor within a defined period.
Key checks before signing an off-plan reservation:
- Aval bancario or insurance policy references named in the contract
- Guarantor identifiable (a specific bank branch or a specific insurance company)
- Guarantee amounts match your total staged payment
- Guarantee validity extends 3 months past the promised handover date
Without these, an off-plan reservation is legally exposed. Resale purchases don't carry construction risk, so no aval applies.
Warranty differences
New build warranties, layered:
- 10 years: structural (foundations, load-bearing walls, roof structure). The insurer of record is named in the deed.
- 3 years: habitability (waterproofing, insulation, wall finishes, ceiling defects).
- 1 year: aesthetic and cosmetic defects (tile joints, paint, small imperfections).
Resale warranty (statutory): 3 years for hidden structural defects that were unknown at the time of sale and would have materially affected the price. Practical application requires proving the defect existed pre-sale and was not disclosed. Standard sales contracts also include a limited seller responsibility for damages appearing within 6 months.
Community fees and utility setup
New build: developer sets the initial community fee and files the first community-fee budget for approval. Utility contracts (electricity, water) are handed over at signing but registered in the buyer's name typically within 30-45 days after handover.
Resale: existing community fee applies; buyer pays the prorated amount from signing day. Utility transfers require a separate visit to Iberdrola, Aguas de Torrevieja or equivalent, typically 1-2 weeks post-notary.
Practical trade-offs
Choose new build if: you want a specific kitchen, tile and finish package; you plan to hold 10+ years and want structural warranty coverage; you can wait 18-24 months for delivery; you have the aval bancario appetite.
Choose resale if: you want a specific location, urbanización or view that only pre-2020 stock offers; you need to move in within 3 months; you value price flexibility over new-finish aesthetics; you want a plot with mature garden (impossible in new-build phases).
New-build supply in 2026
New-build permit issuance in Alicante province ran +4% YoY in Q1 2026 (Ministerio de Vivienda data). Active off-plan phases in Alicante province concentrate in:
- Ciudad Quesada (Rojales)
- Los Alcazares
- Pilar de la Horadada
- Torre-Pacheco
- Los Montesinos
Wesna's current inventory is 100% resale, in line with the Costa Blanca dominant secondary-market pattern. For active resale stock, browse the catalogue by city or specific pockets: Ciudad Quesada (25), Los Alcazares (64), Pilar de la Horadada (61).
FAQ
Which is cheaper overall in 2026? Resale wins on tax (10% ITP vs 11.5% IVA + AJD) and on secondary-market pricing. New build sometimes wins on kitchen and appliance value (€8,000-€15,000 of finishes included). Net: resale is usually 3-8% cheaper all-in in 2026.
How much is the aval bancario worth? Legally, 100% of your staged payments up to the reservation deposit. Practically, look for a policy that also covers a defined interest rate on the returned amount.
Do I need a lawyer for a new build? Strongly recommended. The developer's contract is drafted by the developer's lawyer and favours the developer on nearly every clause. Expect €1,800-€2,800 for full contract review, aval verification and handover attendance.
Can I claim IVA back? No, private buyers cannot reclaim IVA on Spanish property. Only Spanish-registered corporate buyers can, subject to the property being used for VAT-taxable activity.
Do resale properties come with any warranty? Statutory 3-year hidden-defect coverage exists but is narrow in practice. Include a professional pre-purchase inspection (€400-€800) in your due diligence to catch known issues.
Next steps
For a property-specific tax + timeline projection on either a new build or a resale, contact Wesna. We work in English, Russian, Ukrainian and Spanish, coordinate with your lawyer on the aval or arras contract, and handle remote purchases via power of attorney.
Related: 12-step non-resident buying checklist, Off-plan vs resale 5-year returns, Total cost of buying property in Spain.
Get our Valencia property guides
One short email a month with new neighborhood guides, market notes, and rule changes. No spam, unsubscribe in one click.
We use your email only for the newsletter. Read our privacy policy for details.
