Off-Plan Properties

For off-plan properties (which includes all the properties at Condado de Alhama) there are 3 deposits to be paid:

On Reservation	3,000 Euros
After 20 days	25% of the price, minus the 3,000 reservation
After 9 months	15% of the price
On Completion	Balance of 60%

The 20 day and 9 month stage payment include IVA (Spanish VAT) on the amount. IVA is 7% and is the main purchase cost of buying a property in Spain. At completion, it is possible to get a Spanish mortgage to pay for the 60%, or more, if desired (subject to mortgage approval).

Example Payments for Off-Plan Properties
Prices are fixed in Euros and have been calculated at an exchange rate of 1.40 - sterling prices can vary due to currency fluctuations. The best way to purchase Euros is via specialist currency brokers who typically offer better exchange rates than high street banks.

Property Price	€130,700/£93,357		€142,300/£101,643		€200,000/£142,857
	Euros	Pounds	Euros	Pounds	Euros	Pounds
Selling Price, excluding costs	130.700	93.357	142.300	101.643	200.000	142.857
Price, including IVA (VAT) @7%	139.849	99.892	152.261	108.758	214.000	152.857
STAGED PAYMENTS
Initial Deposit	3.000	2.143	3.000	2.143	3.000	2.143
25% Payment within 20 days	31.962	22.830	35.065	25.047	50.500	36.071
15% Payment in 9 months	20.977	14.984	22.839	16.314	32.100	22.929
Total Deposit, within 9 months	55.940	39.957	60.904	43.503	85.600	61.143