Buying an investment property in Benalmadena as an international buyer follows a clear process — but there are several points where uninformed buyers make expensive mistakes. This guide walks through each stage honestly, covering what to do, what to watch out for and what Glaser Group handles on your behalf.
Glaser Group charges no fees to buyers. Our full acquisition service — property identification, viewings, negotiation and legal coordination — is funded by the vendor's commission. You get professional guidance at no cost to you.
Step 1 — Define Your Investment Brief
Before viewing a single property, be clear on three things: your budget including buying costs (add 10–13% to your property budget), your intended use (purely investment, personal use plus rental, or eventual retirement base), and your rental strategy (short-term holiday rental, long-term let, or flexible). Each choice leads to different property types, different locations within Benalmadena and different licence requirements. We discuss this in detail before anything else.
Step 2 — Get Your NIE and Bank Account
A Spanish NIE (Número de Identificación de Extranjeros) is required for all property purchases. Apply at the Spanish consulate in your home country or at the Oficina de Extranjeros in Malaga — allow 4–6 weeks. A Spanish bank account is also needed for the transfer of funds and ongoing costs. Both should be in place before you begin serious property searching.
Step 3 — Appoint an Independent Lawyer
This is not optional. An independent Spanish lawyer (abogado) conducts due diligence on the property — checking title, identifying any debts or charges registered against it, verifying planning compliance, confirming the habitation certificate and checking the VUT licence status if short-term rental is intended. We work with trusted English-speaking lawyers across the Costa del Sol and make introductions as a standard part of our service.
Step 4 — Check Licence Status Before You Offer
This is the most important due diligence step for investment buyers specifically. For any property intended for short-term holiday rental, the VUT licence status must be established before you make an offer — not after. Key questions: Does a valid VUT licence exist on the property? Is the community of owners vote in place (required since April 2025 for properties in buildings with shared areas)? Does the property meet the independent street access requirement if it is in Malaga city or Fuengirola? Glaser Group checks all of these as part of our standard assessment.
Step 5 — Negotiate and Reserve
Once you have identified the right property and your lawyer has begun due diligence, we negotiate the price on your behalf. If agreement is reached, a reservation contract secures the property — typically with a deposit of €6,000–€10,000 — while full due diligence is completed.
Step 6 — Sign the Arras Contract
The contrato de arras is the binding private purchase agreement. You pay 10% of the purchase price, and both parties are committed. If the vendor withdraws, they must return double the deposit. Your lawyer reviews every clause before you sign.
Step 7 — Completion at the Notary
The escritura (title deed) is signed before a Notary, the balance is transferred, taxes and fees are paid, and ownership is registered in the Land Registry. From signing the arras to completion typically takes 6–10 weeks for resale properties.
Buying Costs — Budget 10–13%
| Cost | Rate | Notes |
|---|---|---|
| Transfer Tax (ITP) | 7% | Resale properties in Andalusia |
| VAT (IVA) | 10% | New build only |
| Stamp Duty (AJD) | 1.2% | New builds only, in addition to IVA |
| Notary fees | 0.5–1% | Scales with purchase price |
| Land Registry | 0.4–0.7% | Title registration |
| Legal fees | 1–1.5% | Independent lawyer — essential |
| Total | ~10–13% | Budget this on top of purchase price |
After Completion — Setting Up for Rental Income
Once you complete, if holiday rental is the plan: obtain or confirm the VUT licence, register for NRUA national registration, set up the SES.Hospedajes guest registration system, arrange professional photography, create listings on Airbnb, Booking.com and VRBO, and implement dynamic pricing. Glaser Holiday Rentals handles every one of these steps as part of our onboarding — typically within 10 days of completion.
