Since the real estate market is currently in constant evolution, buying off-plan has been consolidating as one of the most attractive options for both investors and buyers looking to acquire a property at a competitive price, with the possibility of later customizing it, adapting it, and thus benefiting from its appreciation even before delivery.
It is estimated that in 2024, 35% of new homes in Spain were sold under this modality, often at prices up to 20% lower than completed properties. However, this type of transaction also carries certain risks and legal particularities, which all buyers should be fully informed about.
This article provides a complete guide to off-plan property purchases — covering what they are, their advantages and risks, key legal aspects, and how to invest securely using this method in 2025.
An off-plan purchase consists of acquiring a property (residential or commercial) before it has been built, making the decision based on architectural plans, scale models, and design specifications. The buyer signs a contract with the developer and makes staged payments throughout the construction period.
The main characteristics of off-plan purchases include the possibility of obtaining a lower purchase price than for a completed property, and the opportunity to customize the construction by selecting finishes, materials, or even the layout during the early stages. The delivery period is usually 1 to 3 years, depending on the project, and financing options may include special off-plan mortgage products offered by certain banks.
You might be interested in: fixed, variable or mixed mortgage.
Developers often offer discounts of 10–20% compared to the final sale price. For instance, a finished apartment valued at €300,000 could cost as little as €240,000 during the initial off-plan stage.
Buyers may choose elements such as flooring, sanitaryware, kitchens, and other finishes without incurring additional costs (in most cases).
If the real estate market appreciates, buyers can benefit from immediate capital gains. For example, if the property value increases by 5% annually, in just two years it could appreciate by 10–15%
Payments are not made in one lump sum; instead, they are split into installments tied to construction milestones.
In some autonomous communities, buyers may qualify for reduced Property Transfer Tax (ITP) or Value Added Tax (VAT) rates when purchasing new builds.
For completed properties, the purchase price reflects the current market value, whereas off-plan homes can be up to 20% cheaper. In the early stages of an off-plan project, greater customization is possible, while with a completed home, options are limited to post-purchase renovations.
On the other hand, the risk in off-plan purchases is slightly higher, as it may involve delays or non-compliance. With a completed property, “what you see is what you get.” For financing, buyers must obtain an off-plan mortgage (disbursed in phases), which not all banks offer. In contrast, a completed home can be financed with a standard mortgage.
Finally, while a completed home can be purchased and occupied immediately, an off-plan property typically has a delivery period of about 1 to 3 years.
Buying off-plan can be advantageous if you are looking for an initial saving, making it ideal for those who can wait and want to pay slightly less. It is also a good option for investors if the area is expected to appreciate in value before delivery, and is particularly appealing for buyers who want customization — allowing them to choose certain details from the outset without the need for costly renovations.
However, it is not a recommended option for those who urgently need housing, as delays are quite common.
Verify the developer’s track record: whether past projects were delivered on time or if there are claims against them; consult public records (for example, the Developers’ Register held by the College of Registrars).
Consider whether the area is under development, proximity to services (transport, schools), and review building permits and municipal authorizations.
Some banks offer off-plan mortgages with phased disbursements — for example, BBVA and CaixaBank have specific products for this type of purchase.
Make sure the contract includes an exact delivery date, delay penalties, a detailed specification of finishes, and protection clauses in case the developer becomes insolvent.
You must visit the property before signing the public deed to verify that everything matches what was agreed.
The sale contract must include binding delivery deadlines, exact square-metre measurements and layout, and the agreed finishes and quality levels.
A 3-year warranty is provided for construction defects and a 10-year warranty for structural damage.
If the developer goes bankrupt, the buyer can seek recourse via a bank guarantee or a surety insurance / performance bond.
Applicable law once the property is delivered (community matters)
Payment typically follows this structure: a reservation deposit of €5,000–€10,000 to secure the unit; upon signing the contract a 10–20% down payment; staged payments during construction (typically 30–40% as the work progresses); and the final settlement is paid on delivery.
Penalty clauses should be required — e.g., 1% of the property value per month of delay.
The inclusion of material samples in the contract must be required.
It must be verified that the project has a bank guarantee and surety insurance.
A specialized professional can review the contract and its clauses.
So that it covers advance payments
Progress should be monitored in order to verify progress.
You might be interested in: ICO guarantee.
Yes, as long as the developer is solvent and the contract includes guarantees.
It must include deadlines, a description of the property, penalties, and guarantees.
Yes, through a contract assignment, which may have extra costs.
It is estimated between 10,000 and 50,000 euros, depending on the value of the property.
The building permit, the final plans and the developer's guarantees.
A legal claim can be filed or compensation can be negotiated.
Can you imagine being able to invest in real estate without large sums of money or legal complications? With Domoblock, that scenario is already a reality. This innovative digital real estate investment platform allows you to start with only €200, opening the doors to real estate projects carefully selected for their high profitability.
Thanks to blockchain technology,every transaction is recorded in a secure, transparent, and verifiable way, eliminating unnecessary intermediaries and reducing the typical risks of the sector. Everything is designed to provide maximum confidence and efficiency, regardless of your level of financial experience.
But Domoblock goes far beyond a simple platform: it is a strategic ally on your path to financial freedom. Its team of specialists guides you in creating a solid, diversified investment portfolio adapted to your short-, medium-, and long-term objectives.
It’s time to take the step toward a new way of investing. Digital, secure, and accessible to everyone. Start today with Domoblock and be part of the future of the real estate market!
Buying off-plan can be an excellent opportunity to save money, personalize a home, and take advantage of real estate appreciation, but it requires caution and legal advice.
In 2025, this modality will continue to be an attractive option for investors and buyers willing to wait. If you decide that buying off-plan is for you, follow our recommendations to minimize risks and ensure a profitable investment.
.png)
Funded:
-
-
Objective:
3.582.749,16 €
.png)
.png)
.png)
.png)
