New-Build 3-Bedroom Penthouse in Montemar, Torremolinos
Montemar, Torremolinos · Malaga
3 Bed2 Bath165 m²Energy: G
Description
This new-build penthouse on the third floor in Montemar occupies 165 m2 of interior space across 3 bedrooms and 2 bathrooms. Two dedicated parking spaces are included, along with lift access and a private alarm system. The development features a communal pool and a solarium, making it one of the more complete new-build offerings currently available in Montemar.Montemar is a residential area of Torremolinos situated between the town centre and the Benalmádena border. The neighbourhood is well connected to Calle Montemar and the coastal path that links to La Carihuela beach. Local amenities, including supermarkets and restaurants along Avenida Palma de Mallorca, are within comfortable reach. Málaga Airport (AGP) is approximately 20 minutes away by car.Priced at EUR 790,000, the cost per m2 works out at approximately EUR 4,788. As a new build in Andalusia, the purchase is subject to IVA at 10% rather than transfer tax, amounting to EUR 79,000 in VAT alone. Notary fees typically run between EUR 600 and EUR 1,200, land registry between EUR 400 and EUR 800, and legal fees approximately 1% of the purchase price plus VAT. Community fees are currently EUR 0 per month and IBI has not yet been set for this development. The energy rating is G. Montemar's coastal position and proximity to the airport give this unit solid short-term rental potential for the tourist season.
Features
- New build
- Communal pool
- Solarium
- Lift
- Parking (2 spaces)
- Alarm system
- Air conditioning
- 3 bedrooms
- 2 bathrooms
- 165 m2 interior
Property Details
| Property Type | Penthouse |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Built Area | 165 m² |
| Floor | 3 |
| Energy Certificate | G |
| Reference | 96747588-01 |
Distances & Nearby
- airport
- 20 min (Málaga AGP)
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Location
Montemar, Torremolinos · 36.6032, -4.5159
About Montemar, Torremolinos
Torremolinos is one of the most popular destinations on Spain's Costa Blanca.
Frequently Asked Questions
What are the purchase costs on top of the EUR 790,000 asking price?
As a new build, this property is subject to IVA (VAT) at 10%, which comes to EUR 79,000. Additional costs include notary fees of approximately EUR 600–1,200, land registry fees of EUR 400–800, and legal fees of around 1% of the purchase price plus VAT (approximately EUR 9,480 including VAT). Budget for total purchase costs of roughly 12–13% on top of the asking price.
Can non-residents get a mortgage on this property?
Yes. Spanish lenders typically offer non-resident mortgages up to 60–70% of the purchase price, meaning a deposit of 30–40% is usually required. On EUR 790,000, that represents a deposit of approximately EUR 237,000–316,000. Current variable and fixed rates generally range between 3.5% and 4.5% depending on the lender and your financial profile.
What are the ongoing running costs for this penthouse?
Community fees are currently listed at EUR 0 per month. The annual IBI (council tax) has not yet been set for this development and will be confirmed once the property is registered with the local catastro. Utility costs will depend on usage. We recommend budgeting conservatively until the IBI figure is confirmed.
Can I arrange a viewing, and is a video viewing possible?
Yes. In-person viewings can be arranged through our OceanHome team at a time that suits you. If you are based outside Spain or prefer to assess the property remotely first, we can arrange a live video viewing via WhatsApp or video call. Contact us to book either option.
What is the rental potential in Montemar, Torremolinos?
Torremolinos is a recognised tourist area with strong seasonal demand, and Montemar benefits from its coastal position and easy airport access. A third-floor penthouse with a solarium and communal pool in this location is well suited to the short-term holiday rental market. Actual rental income will depend on management, marketing, and seasonal occupancy. We advise consulting a local rental manager for current market rates.
What does the purchase process involve?
First, you will need a Spanish NIE (tax identification number), which can be obtained through a Spanish consulate or a local gestor. Once you have agreed on the price, a reservation contract is signed and a deposit of typically EUR 3,000–6,000 is paid to take the property off the market. This is followed by a private purchase contract (arras), where 10% of the price is paid. The final balance is settled at the notary, where the title deed (escritura) is signed and ownership is formally transferred.
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
- 165 m²
- Energy Rating
- G
