Obra Nueva is a document which certifies the concession of a brand new building. The new property may be new and ready for occupation, or the document may refer to the right of the developers who own the land to build new homes.

What are the advantages of buying new property in Spain? All new property comes with a 10-year guarantee, so if any problems due to the structure or materials used, the buyer will be able to claim for expenses.

Another advantage is the fact that in the case of brand new property, the price of the house remains fixed from the moment the deposit is paid. This is a considerable advantage in the Spanish property market, where prices have been rising steadily.

Infact ove the past few years it has been quite common for people to buy brand new property as an investment before building has even begun and then sell it when building has finished (or even before), gaining considerable profit on their investment.

People who decide to do this are advised both to check the revaluation trend in the area where the new housing is being built, aswell as the supply:demand ratio, because the boom in the Spanish building industry over the past few years has been such that in some areas there is a surplus supply of new property already, and a quick resale is not as straightforward as it was just a short while ago.