What are the risks of buying off-plan in Spain?
The main risk of buying off-plan (sobre plano) in Spain is paying instalments before the home exists — so the law requires the developer to secure every stage payment with a bank guarantee or insurance; never pay an instalment that isn't guaranteed.
Beyond completion delays, the real exposure is the money you hand over during construction. Under the LOE (Ley 38/1999, amended by Ley 20/2015) those amounts must be protected by a bank guarantee or insurance policy in your name.
Also confirm the developer has the building licence and that the land is properly classified before you commit.
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Sources: Ley 38/1999 de Ordenación de la Edificación (mod. Ley 20/2015) — BOE.
General information for people buying property in Spain — not legal, tax or financial advice. Confirm the specifics for your purchase with a qualified professional.
Last reviewed June 2026.