Question 1

What are the purchase costs on top of the asking price?

Accepted Answer

As a resale in the Valencian Community, this purchase carries ITP transfer tax at 9% of the purchase price, rising to 11% on the entire value above €1,000,000. Note that tax is charged on the higher of the price paid and the property's official reference value, so treat any figure based on the asking price as a minimum. Reduced rates and local allowances may apply if you meet the Valencian Community's conditions (for example age, large-family or disability status, or buying a primary residence) — worth checking before you budget. Additional costs include notary fees (typically EUR 600–1,200), land registry fees (typically EUR 400–800), and legal fees of around 1% of the purchase price plus VAT.

Question 2

Can I get a mortgage as a non-resident buyer?

Accepted Answer

Non-resident buyers typically need a deposit of 30–40% of the purchase price, as Spanish lenders generally finance up to 60–70% for non-residents. Current variable and fixed rates generally range between 3.5% and 4.5%, though this varies by lender and applicant profile. We can refer you to independent mortgage brokers familiar with the Orihuela Costa market.

Question 3

What are the ongoing running costs?

Accepted Answer

Estimated community fees are EUR 95 per month, covering maintenance of communal areas including the garden and lift. The annual IBI (council tax) is approximately EUR 310. Please note both figures are estimated. There is no basura (waste collection) charge on record for this property; we recommend confirming the full schedule of local taxes with your solicitor.

Question 4

Can I view the property remotely?

Accepted Answer

Yes. We offer video viewings by appointment for buyers who are unable to visit in person. Contact our team to arrange a live video call or to request additional footage of specific rooms or areas of the property.

Question 5

What is the rental potential of this property?

Accepted Answer

Orihuela Costa is a recognised tourist area with strong seasonal demand, particularly from May to October. Penthouses with sea views and south-facing terraces tend to attract interest from short-term holiday renters. A tourist licence is required for short-term letting in the Valencian Community; we recommend seeking advice from a local solicitor on current licensing requirements before purchasing with rental income in mind.

Question 6

What does the purchase process involve?

Accepted Answer

First, you will need an NIE (Número de Identificación de Extranjero), which is a tax identification number required for all property purchases in Spain. Once you agree on terms, a reservation fee is typically paid to take the property off the market. This is followed by a private purchase contract (arras), where usually 10% of the purchase price is exchanged as a deposit. Completion takes place before a notary, at which point the remaining balance and all associated taxes and fees are settled. The whole process from reservation to completion commonly takes 4–8 weeks.

Property Type	Penthouse
Bedrooms	2
Bathrooms	1
Built Area	70 m²
Energy Certificate	Rating Exempt
Reference	OH02216

Transfer Tax (ITP 10%)	€21,900
Notary Fees	~€950
Land Registry	~€650
Legal Fees (1% + VAT)	~€2,650
Community Fees (monthly)	€95/mo
IBI Property Tax (annual)	€310/yr
Est. Total Purchase Costs	~€26,150 (11.9%)

South-Facing 2-Bedroom Penthouse in La Regia, Orihuela Costa

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