New-Build 3-Bedroom Penthouse in El Pinillo, Torremolinos
El Pinillo, Torremolinos · Malaga
3 Bed2 Bath222 m²Energy: G
Description
This top-floor new-build penthouse in El Pinillo spans 222 m2 across the third and uppermost floor of the development. The property contains 3 bedrooms, 2 bathrooms, and a private solarium, offering substantial outdoor space exclusive to this unit. As a new-build, VAT at 10% applies rather than transfer tax, which affects total purchase costs at this price level.El Pinillo sits between central Torremolinos and the quieter residential streets leading towards La Carihuela. The neighbourhood has its own supermarkets, local bars, and everyday amenities along Calle Pinillo and the surrounding streets, without the heavy tourist footfall of the seafront. Málaga Airport is approximately 20 minutes by road, making El Pinillo a practical base for frequent travellers. The development is within the wider Torremolinos municipality, which borders the coastal path connecting La Carihuela beach to the town centre.Priced at EUR 1,100,000, the property works out at approximately EUR 4,955 per m2. Community fees are recorded as zero at the time of listing, though buyers should confirm this with the developer before exchange. IBI has not yet been assessed for this new-build. The energy rating is G. Torremolinos holds tourist licence zone status within the Costa del Sol, which is relevant for buyers considering short-term rental use.
Features
- New build
- Top-floor penthouse
- Private solarium
- Communal pool
- Alarm system
- 3 bedrooms
- 2 bathrooms
- Air conditioning
- Lift
Property Details
| Property Type | Penthouse |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Built Area | 222 m² |
| Floor | 3 / 3 |
| Energy Certificate | G |
| Reference | 88172147-02 |
Distances & Nearby
- airport
- 20 min (Málaga AGP)
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Location
El Pinillo, Torremolinos · 36.6090, -4.5125
About El Pinillo, Torremolinos
Torremolinos is one of the most popular destinations on Spain's Costa Blanca.
Frequently Asked Questions
What are the total purchase costs for this penthouse?
As a new-build, you pay IVA (VAT) at 10% rather than ITP transfer tax. On EUR 1,100,000 that equals EUR 110,000 in VAT. Additionally, you will need to budget for notary fees (approximately EUR 600–1,200), land registry fees (approximately EUR 400–800), and legal fees of around 1% of the purchase price plus VAT, which equates to roughly EUR 13,310 including VAT at 21%. Total purchase costs are typically around 12–13% on top of the sale price.
Can non-residents obtain a mortgage for this property?
Yes. Spanish banks generally lend non-residents up to 60–70% of the purchase price, meaning a deposit of 30–40% is typically required. On EUR 1,100,000 that implies a minimum deposit of approximately EUR 330,000–440,000. Current variable and fixed mortgage rates from Spanish lenders are broadly in the range of 3.5–4.5%, though individual offers will depend on your financial profile and the lender.
What are the ongoing running costs for this property?
Community fees are currently listed as zero, though buyers should verify this directly with the developer before completing. IBI (annual property tax) has not yet been set for this new-build and will be assessed once the property is registered with the local catastro. Rubbish collection charges are also to be confirmed. We recommend budgeting for these once the catastro reference is issued.
How do I arrange a viewing?
You can book an in-person viewing through OceanHome at a time that suits you. If you are outside Spain or prefer to see the property remotely first, we can also arrange a live video viewing via WhatsApp or video call, during which one of our agents will walk through each room and the solarium in real time.
What is the rental potential in this area?
Torremolinos is a designated tourist zone on the Costa del Sol, and the town attracts visitors year-round. A top-floor penthouse with a private solarium and communal pool in El Pinillo can be competitive in the short-term rental market. We recommend speaking to a local rental management company for realistic occupancy and rate projections specific to this development.
What does the purchase process involve?
First, you will need an NIE (Número de Identificación de Extranjero), which is the Spanish tax identification number required for all property transactions. Once you have agreed on the price, a reservation contract is signed and a deposit (typically EUR 3,000–10,000) is paid to take the property off the market. This is followed by a private purchase contract (arras), where a further deposit, usually 10% of the price, is paid. Completion takes place before a notary, at which point the remaining balance is paid and ownership is transferred. For new-builds, completion timing is tied to the developer's handover schedule.
Maya Kallio💚
The Heart of Our Operations
Co-founder of OceanHome. Helping international buyers find their dream property in Spain since 2004.
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Key Details
- Type
- penthouse
- Bedrooms
- 3
- Bathrooms
- 2
- Build Size
- 222 m²
- Energy Rating
- G
