Which are the principal characteristics of this type of purchase in Spain? The developer retains ownership until the property is completed and you can´t apply for a mortgage against the property to finance these advance payments.

Is it a risky business to buy a property in Spain before a single brick has been laid ? Yes, you have to be extremely wary and check every document. You are required to deal with the purchase of new residential properties, either recently constructed or in the course of construction and there is a degree of risk and uncertainty.

What are the main problems of buying off-plan ? Advisers for legal paper representing just the interests of one party; the developer, builders without insurance policy or bankers guarantee and unable to meet debts or discharge liabilities, defective or non-existent planning documentation leading to serious difficulties in obtaining connection of supplies such as water and electricity in the mildest of cases to demolition orders in the most severe instances.