Question 1

How much does it cost to buy this property?

Accepted Answer

For this apartment at EUR 159,000, purchase costs include 10% transfer tax (ITP) of EUR 15,900, notary fees around EUR 700, land registry approximately EUR 450, and legal fees of about EUR 1,924. Budget approximately EUR 18,974 in total buying costs on top of the purchase price.

Question 2

Is mortgage financing available?

Accepted Answer

Non-resident buyers can typically borrow up to 60-70% of the purchase price. For this apartment at EUR 159,000, a 60% mortgage would be EUR 95,400, requiring a deposit of EUR 63,600. At current variable rates around 4%, monthly repayments over 25 years would be approximately EUR 504. Spanish banks require proof of income, tax returns, and a credit report from your home country.

Question 3

How much are the monthly expenses?

Accepted Answer

Annual running costs for this apartment include: IBI property tax is EUR 278 per year; community fees are EUR 300 per quarter; home insurance runs EUR 200-400 annually; utility bills (electricity, water, internet) average EUR 150-250 per month. Non-resident owners also pay annual income tax (IRNR) on a deemed rental value, typically EUR 300-600 per year for a property at this price level.

Question 4

Can I book a viewing?

Accepted Answer

Contact Maya Kallio to arrange an in-person viewing of this apartment in Montezenia. Video viewings are also available for overseas buyers who cannot visit immediately. Viewings can usually be arranged within 24-48 hours.

Question 5

What is the rental potential?

Accepted Answer

Orihuela Costa has strong holiday rental demand, particularly from Northern European visitors during the winter months and Spanish tourists in summer. A 2-bedroom apartment in Montezenia can attract bookings year-round. You will need a tourist licence from the regional government. Note that rental income is subject to Spanish tax for non-residents.

Question 6

How does purchasing work?

Accepted Answer

Buying property in Spain requires an NIE number, which your lawyer can help arrange. Once you agree the price, a reservation deposit secures the property. You then sign an arras contract with a 10% deposit within 2-4 weeks. The final step is signing the escritura at a notary and paying the remaining balance. Your lawyer handles due diligence, checking the property has no debts or legal issues. Allow 6-10 weeks from offer to completion.

Property Type	Apartment
Bedrooms	2
Bathrooms	1
Built Area	71 m²
Floor	0
Energy Certificate	Rating E
Reference	OH01794

Transfer Tax (ITP 10%)	€15,900
Notary Fees	~€700
Land Registry	~€450
Legal Fees (1% + VAT)	~€1,924
Community Fees (monthly)	€300/mo
IBI Property Tax (annual)	€278/yr
Est. Total Purchase Costs	~€18,974 (11.9%)

Renovated 2-Bedroom Apartment in Montezenia, Orihuela Costa

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