Now that the transfer tax on resale properties matches the 10 per cent VAT (IVA) on new-builds in Valencia, there is a very good financial reason to consider buying a new rather than old home.
One major agency that has fast responded to the new tax landscape is HomeEspaña who has launched an exciting selection of brand new homes available to buyers in prime spots in the Costa Blanca, following a highly successful sales campaign at its first new-build project in Cabo Roig.
HomeEspaña's key-ready properties, direct from the developer, start at just €89,900 for a two-bedroom townhouse, with a fully furnished kitchen, access to a communal pool and sea views, on a complex on the edge of Torrevieja.
Earlier this year the firm sold the last 20 apartments at the new Las Calitas complex in the space of just four months. In a prime seafront location in Cabo Roig, Las Calitas (pictured) comprises 56 apartments set amongst landscaped gardens with a communal pool looking on to the Mediterranean.
"Our new-builds represent excellent value for money as the developments are in prime locations and owners get a home that's more desirable than resale, with sparkling new fittings and at reduced prices from equivalent products five years ago," said Kieran Byrne, MD of HomeEspaña.
"Contrary to the doom-mongers, new stock is being built, completed and bought in the Costa Blanca, just on a controlled scale. The success we have had with Las Calitas is testament to the demand for this type of property and our new-build business has teamed up with a selection of carefully chosen, well established construction companies to offer more of the same."
Buying a key-ready home direct from the builder rather than a repossessed new-build from a bank comes with a number of other benefits, says Mr Byrne.
"The property and development are likely to have been well maintained - repossessed homes, new or otherwise, don't take long to gather mould - and completion will be quicker than with a bank, which will have extra paperwork to deal with. Also, a builder will usually give you options for fittings and furnishings, and of course be on hand to resolve any snagging issues once the keys are handed over."
Highlights of HomeEspaña's new-build portfolio include Sea and Senses in Punta Prima, from €175,000, the Linnéa Sol complex in Villamartín and Residenical Sabrina in La Zenia, all being in established areas.
Linnea Sol has two and three bedroom apartments with prices starting from €102,000 and the option to buy furnished. It overlooks Villamartín golf course, is a five-minute drive to the beach and includes a communal pool and Jacuzzi.
Residencial Sabrina is a smart complex of luxury contemporary two-bedroom apartments, set around green areas and swimming pools for both adults and children. A short walk from the La Zenia Boulevard shopping centre and the beach, prices there start at €119,000.
Meanwhile, in the northern Costa Blanca HomeEspaña is promoting a boutique development of six luxury semi-detached villas in the desirable resort of Moraira. Construction begins in September, with prices starting from €377,000.
Get help buying a property in Spain
With more exhibitors selling property in Spain than any other country, A Place in the Sun Live is a great place to start your journey to owning a home in Spain. Taking place at the NEC Birmingham on 27th-29th September, A Place in the Sun Live features two sessions per day on the A Place in the Sun Hub where A Place in the Sun magazine editor Liz Rowlinson is joined on stage by a panel of Spanish property experts to discuss issues surrounding buying a property in Spain and answering your individual questions.