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Ref: MLS63274V
Property marketed by Vivacosta
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One Storey House for Complete Renovation – Colonia Madrid, BenidormOpportunity to purchase a ground floor house in the traditional and well-established area of Colonia Madrid, Benidorm. The property sits on a 158 m² plot and offers excellent potential for a full renovation project.The house currently has 80 m² of built living space, distributed into 3 bedrooms, a living room, one bathroom and a guest toilet, plus a separate 15 m² garage. It also benefits from private outdoor space.The property requires a complete refurbishment, making it an ideal option for:InvestorsBuyers looking to design a custom homeRenovation and resale or long-term rental projectsLocated in a quiet residential area with easy access to shops, public transport and local services, and just a short distance from Benidorm town centre.Price: €289,000A character property with private land, garage and excellent renovation potential in one of Benidorm’s most sought-after residential neighbourhoods.
Property Features
- 3 bedrooms
- 2 bathrooms
- 80m² Build size
Costing Breakdown
Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
25,900€
Final Payment of 90% on completion
260,100€
Property Purchase Expenses
Property price
289,000€
Transfer tax 8%
23,120€
Notary fees (approx)
600€
Land registry fees (approx)
600€
Legal fees (approx)
1,500€
* Transfer tax is based on the sale value or the cadastral value whichever is the highest.
** The information above is displayed as a guide only.
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In Spain, two primary taxes are associated with property purchases: IVA (Value Added Tax) and ITP (Property Transfer Tax). IVA, typically applicable to new constructions, stands at 10% of the property's value. On the other hand, ITP, levied on resale properties, varies between regions but generally ranges from 6% to 10%.
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In Spain, mortgages, known as "hipotecas," are common, and the market has seen significant growth and evolution.



