Thinking About Buying Off-Plan in the Costa del Sol? Here’s What You Should Know (From a Belgian Perspective)

Hello! If you’re reading this, you’re probably dreaming of a place in the sun—or maybe you’re looking for a smart investment on the Costa del Sol. Either way, you’re not alone. I’m one of the founders of Signature Properties, and as a fellow Belgian, I want to give you a real, honest look at what’s happening in the off-plan property market here, and why so many of our compatriots are getting involved.

The Off-Plan Boom: Why Everyone’s Talking About It

Let’s start with the basics. “Off-plan” means buying a property before it’s built. Sounds risky? Maybe at first glance, but here on the Costa del Sol, it’s become one of the most popular ways to buy—especially if you want something modern, energy-efficient, and tailored to your taste.

The numbers are pretty impressive. In just the first half of 2024, over 18,500 properties changed hands in the West Costa del Sol, and new-build (off-plan included) sales shot up by 34% compared to last year. Prices for these new homes? On average, around €432,000, and that’s up 27% in just a year. In Marbella, prices have jumped 66% in five years. It’s wild, but it shows just how much people want to be here.

And it’s not just Spaniards buying. About 38% of buyers are foreigners. Brits, Dutch, Swedes, and yes—more and more Belgians—are snapping up these homes. In fact, Belgians, Dutch, and Poles are some of the biggest fans of off-plan, with about one in four choosing this route. The average buyer is getting younger too, thanks to remote work and the whole digital nomad trend.

How Does Payment Work? (Good News: You Don’t Pay Everything Upfront)

One of the things that surprises a lot of first-time off-plan buyers is how the payment schedule works. You don’t have to pay the full price of the property upfront. Typically, you’ll pay around 30% of the price during the construction phase—usually spread out in a few installments as the building progresses. The remaining 70%? That’s only due when the property is finished and ready for you to move in or take ownership.

This structure gives you time to plan your finances, and it’s one of the reasons off-plan is so attractive—especially if you’re thinking about selling the property soon after completion. You’re not tying up all your capital from day one.

Is It Safe? What About My Money?

I get it—putting down money on something that’s not built yet can feel like a leap of faith. But Spain has some solid protections in place. By law, developers have to guarantee your deposit with a bank guarantee or insurance. If something goes wrong, your money is protected. Plus, most of the big developers here have a good track record. We only work with those we trust, and we know the local scene inside out.

Why Buy Off-Plan? (Hint: It’s Not Just About the Sunshine)

Of course, there’s the lifestyle—waking up to sea views, sipping coffee on your terrace, enjoying 300 days of sun a year. But let’s talk investment, because that’s a big reason people go off-plan.

Here’s what’s happening: a lot of buyers are purchasing off-plan, waiting for the property to be finished, and then selling it—sometimes within a year of getting the keys. Why? Because prices are rising fast, and if you buy early, you often get the best deals and the pick of the best units. When the project is finished, demand is still high, and you can sell at a profit. It’s not guaranteed, of course, but the last five years have seen new-build prices rise by 60%. That’s a pretty good track record.

A Word on Inheritance Tax: Protecting Your Legacy

Now, here’s something that doesn’t get talked about enough, but it’s really important for Belgian buyers: inheritance tax. In Belgium, inheritance taxes can be quite high, especially when passing property on to your children. In Spain—and particularly in Andalusia, where the Costa del Sol is located—the rules are much more favorable. For close family members (like children or a spouse), inheritance tax is literally 0% for the first €1 million inherited. That means if you pass on your Spanish property to your children, they won’t pay any inheritance tax on the first million euros of value. The only real cost is the notary fee, which is usually about 1% of the property’s value. This makes investing in Spanish property not just a lifestyle or investment choice, but also a smart way to protect your legacy for your loved ones.

The Belgian Touch: Why Our Approach Is Different

Now, let me be clear—we’re not your typical real estate agency. At Signature Properties, we’re a small, boutique team with strong Belgian roots and a real passion for helping our clients find the right fit. We speak your language (literally—French, Dutch, English), and we know what matters to Belgians: discretion, quality, and a smooth, no-nonsense process.

We don’t just show you every property on the market. We curate a select portfolio, work closely with trusted developers, and guide you through every step—from the first visit to the final signature. Our network means we often get early access to the best projects, and we’re always here to answer your questions, big or small.

What’s Next? Opportunities and Tips

There are about 374 new developments in the works right now, and thousands of new homes are expected in the next three years. But demand is still outpacing supply, especially in the best locations. That’s why acting early is important if you want the best options and prices.

If you’re thinking about buying off-plan—whether for your own use, as a holiday home, or as an investment—now’s a great time to explore your options. And if you want advice from someone who understands both the Belgian mindset and the Costa del Sol market, you know where to find us.

Let’s have a chat, no strings attached. We’re here to help you make your Costa del Sol dream a reality—on your terms, and with your interests at heart.