Published September 2026 · Data verified September 2026
Resale accounted for 87.8% of all purchases in Alicante province over the last twelve months, against 12.2% new build. The two routes now differ by more than they did a year ago, because the June 2026 transfer tax cut applied to resale alone.
The choice changes four things: what you pay in costs, when you get the keys, whether the property can be let to tourists, and what you can do to it afterwards.
The decision in one table
| Resale | New build | |
|---|---|---|
| Purchase costs on top of price | About 11% below €1M | About 13.5% |
| Payment | In full at completion | Staged during construction |
| Keys | 8–12 weeks | On the developer's delivery date |
| Tourist registration | Can transfer with the property | None at purchase, and not guaranteed later |
| Energy performance | Depends entirely on the year built | Aerothermal heat pump, insulation to current code |
| Location | Established, often closer to the sea | Where land was available |
| Condition | As found, renovation optional | Turnkey, ten-year structural warranty |
| Community fees | Usually lower | Higher, in exchange for facilities |
| Share of the market | 87.8% | 12.2% |
The cost gap widened in June 2026
On a €250,000 purchase, acquisition costs run about €27,500 on a resale and €33,500 on a new build. The €6,000 difference is tax: 9% transfer tax against 10% VAT plus 1.4% stamp duty.
That gap grew this year. Transfer tax on a resale below €1,000,000 fell from 10% to 9% on 1 June 2026, while VAT on a new build is a national rate and did not move. A resale is now roughly 2.5 percentage points cheaper to acquire than the equivalent new build, against 1.5 points before the change.
Above €1,000,000 the position reverses: transfer tax is 11%, so a high-value resale costs slightly more to buy than a new build. Every line is in our Costa Blanca costs and taxes guide.
Furnishing runs €15,000–20,000 either way for a one or two-bedroom apartment. Add 0.5–1% if you borrow.
The licence asymmetry
This is the difference that has grown most, and it points away from the usual advice.
A resale can carry a Valencian tourist registration that transfers with the property. It comes with whatever remains of its five-year validity.
A new build has no registration when you sign. It is applied for after delivery, and it requires the town hall to certify that tourist use is compatible with that address.
Set that against a market being capped. Alicante city, Jávea, Altea and Dénia now limit new registrations: Alicante city is suspended pending a permanent per-district cap, Jávea set a neighbourhood ceiling in May 2026 with little headroom left, and Altea introduced zone limits in July 2026 that have cut its registered stock by around a quarter. More than 18,000 registrations were cancelled across Spain during 2025 for falling short of current requirements.
If income is part of the plan in a capped municipality, a resale with a live registration in a building whose statutes permit lodging use is now close to unrepeatable. Benidorm, Torrevieja, Calpe, Orihuela, Guardamar, Santa Pola, Moraira and Benissa remain open, with the compatibility certificate still required. The rules by municipality are in our Costa Blanca rental rules guide.
Two qualifications cut the other way. The registration expires and is renewed against the rules in force at that date. And since April 2025 a building can prohibit tourist letting by a three-fifths majority and add a surcharge of up to 20% to the fees of units that let.
Yields, and where each route wins
Short-term gross yields by market, from platform revenue against local asking prices:
| Market | Gross yield | Net operating |
|---|---|---|
| Alicante city | 11.9% | 6.0% |
| El Campello | 8.5% | 4.3% |
| Santa Pola | 7.9% | 4.0% |
| Benidorm | 7.8% | 3.9% |
| Altea | 7.5% | 3.8% |
| Calpe | 6.9% | 3.4% |
| Finestrat | 6.8% | 3.4% |
Listings fell in every one of those markets over the year, by up to 16.5%. Revenue per property rose at the same time — between 6.6% and 16.5% — which is what a contracting legal supply does to the properties that remain in it.
Resale wins on entry price and on the licence. New build wins on nightly rate where a development has a pool, gym and concierge, and on the operating cost of a building that needs nothing done to it. Full figures in our Costa Blanca rental yields analysis.
What new build gives you
Energy performance. Developments built to the current code install an aerothermal heat pump, usually with underfloor heating, covering heating, cooling and hot water from one system at roughly a third of the electricity a resistive heater uses. On a coast where much of the older stock has no central heating, that is a real difference in January and August.
Facilities. Pool, gym, spa, coworking, concierge, security, landscaped grounds. They raise community fees and they raise the letting rate.
Space and specification. Larger terraces, underground parking, storage, orientation designed around the view.
Protection. Off-plan stage payments must be covered by a bank guarantee or an insurance policy and held in a separate account. If the project is not completed, you recover your money with interest. Every new build carries a ten-year structural warranty, three years on damp and infiltration, one year on finishes.
Nothing to do on arrival. No renovation, no permits, no contractor.
What resale gives you
Location. The established addresses were built first. Seafront in Jávea and Moraira, the old towns of Altea and Villajoyosa, central Torrevieja — the land is used, and what comes to market there is resale.
Plot. Older urbanisations were built at lower density. A 1980s villa often sits on a plot no new development could replicate at the price.
Price per square metre. Lower entry, and the acquisition cost gap on top.
The registration, as above.
Renovation upside, which needs its own numbers.
What renovation actually costs
Spanish full-renovation costs in 2026, by standard:
| Standard | Cost per m² | On a 90 m² apartment |
|---|---|---|
| Basic | €500–700 | €45,000–63,000 |
| Standard | €700–1,000 | €63,000–90,000 |
| High specification | €1,000–1,500+ | €90,000–135,000+ |
A cosmetic refresh — paint, kitchen, bathrooms, no layout change — costs a fraction of those figures. A full reform with new services and reconfigured space does not.
Renovation pays when the purchase discount exceeds the work plus a margin, and when the finished property sits in a location that supports the higher value. It does not pay when you have bought at market price and are hoping the work creates the gap.
Two practical points. Structural or facade work needs community approval and often a municipal licence, which adds months. And a property being renovated earns nothing while the work runs.
Off-plan, specifically
You pay a reservation fee, then a deposit taking you to 20–30% of the price, sometimes with staged payments of a further 10–20% during construction.
Three things to check before signing:
The bank guarantee exists and covers every payment you make. Confirm it before any money moves.
The letting position at delivery. The registration does not exist when you sign, and in a capped municipality it may not be obtainable at all, so the mid-term fallback has to be part of the plan from the start.
The delivery date and the penalty for delay, written into the contract.
Budget bands
New build, two bedrooms
| Band | Where |
|---|---|
| €200–280k | Vega Baja, Torrevieja, Orihuela Costa, Pilar de la Horadada |
| €280–400k | Gran Alacant, Santa Pola, El Campello, La Nucía, Polop |
| €400–600k | Finestrat, Villajoyosa, Calpe, Benidorm seafront |
| €600k–1.5M+ | Jávea, Moraira, Altea Hills, Benissa Costa, Cumbre del Sol |
Resale, including properties to reform
| Band | Where |
|---|---|
| €120–200k | Torrevieja, inland Vega Baja, older Orihuela Costa |
| €200–350k | Guardamar, Santa Pola, Alicante city, El Campello, Calpe apartments |
| €350–600k | Altea, Villajoyosa, Dénia, Benissa, Jávea apartments |
| €600k–2M | Jávea and Moraira villas, Altea Hills, Benissa Costa frontline |
What the terms mean on this coast, and what each type costs to run, is in our guide to property types on the Costa Blanca.
How to choose
Buy resale if you want an established location, a larger plot, the lowest acquisition cost, or a transferable tourist registration — and if you are willing to take the building as it is or price the renovation properly.
Buy new build if you want a turnkey property with warranty cover, current energy performance, facilities that raise the letting rate, and no renovation risk — and if letting is either not the plan or can work through mid-term.
Buy off-plan if your horizon allows the construction period and you want the appreciation to completion while committing less capital, with the fallback built into the plan from day one.
How Directimo works
Directimo represents the buyer, never the seller. Listing agents in Spain are contracted by the vendor and paid to protect the vendor's price.
We model both routes against your budget and horizon before you commit, verify the registration and statutory position on a resale, and check the bank guarantee and the contract on a new build. The properties we source average 13.5% below area market prices. We have completed more than 1,000 transactions since 2011, totalling over €300M in property sold.
Compare both routes on your budget: directimo.com/advisory-call
The process stage by stage is in our Costa Blanca buyer's journey, the areas in our Costa Blanca geographic guide, and where the market is heading in our Costa Blanca investment outlook.
Sources. Consejo General del Notariado — transaction data for Alicante province, twelve months to mid-2026, including the resale and new-build shares. Generalitat Valenciana — transfer tax and stamp duty rates in force from 1 June 2026, and the tourist registration framework including five-year validity and the municipal compatibility certificate. Spanish legislation in force since April 2025 — the three-fifths community majority and the community fee surcharge. AirDNA — short-term rental revenue and listing counts by market, twelve months to June 2026. Directimo Costa Blanca Market Report, September 2026 — municipal licence caps and registration cancellations. Spanish law on off-plan deposit protection and the ten-year structural warranty. Renovation cost ranges from Spanish construction pricing guides, 2026. Directimo Costa Blanca Market Report, September 2026, and Directimo transaction record.
Method. Purchase-cost percentages are stated on the deed price and exclude furnishing, renovation and financing. Gross yields divide annual platform revenue by a purchase benchmark of the local asking price per square metre multiplied by 90 m² built; net operating yields apply a 50% operating-cost allowance and come before purchase costs, income tax and financing. Renovation ranges are national 2026 pricing tiers; coastal work to international specification sits in the upper tiers. Budget bands describe where each price level currently buys and move with the market.
This guide is market research, not investment, tax or legal advice. Registration feasibility and community statutes are property-specific and should be confirmed before any offer.