Quick answer: The standard off-plan payment schedule in Spain runs reservation (€3,000 to €10,000), 10% arras on the private purchase contract (CCPV), construction milestone tranches that often total 20 to 30% during the build, and a final 60 to 70% balance at escritura on completion. Every advance payment beyond the reservation must sit behind an aval bancario under Ley 57/1968 before money moves. This guide is the milestone layer only; the full off-plan framework, legal protections, and market context sit in the off-plan property Spain guide, and guarantee verification is detailed in the bank guarantee off-plan Spain guide.
Buyers lose money on off-plan when they understand the brochure floor plan but not the cash timeline. You commit capital in slices over 18 to 36 months. Each slice has a legal trigger, a guarantee requirement, and a tax consequence at the end. Get the sequence wrong and you either pay unprotected deposits or default on a contract you cannot unwind cheaply. This article maps every milestone from reservation through escritura, names what developers typically charge at 60 to 70% completion thresholds, and shows how your lawyer gates each transfer. It does not repeat the full off-plan pillar; it is the payment calendar you keep open beside your contract.
Why the payment schedule matters more than the render
Off-plan is a staged cash commitment. Spain completed roughly 83,500 new homes in 2025 against household formation near 226,000, which supports pricing in active markets but does not remove developer delay risk. You lock a price today and fund construction in tranches. The schedule in your contrato privado de compraventa (CCPV) is binding. Marketing PDFs that show a different percentage split are irrelevant if the signed contract says otherwise.
Three principles govern every payment:
- Contract beats brochure. Only the CCPV schedule and annexes define when money is due.
- Guarantee before transfer. Ley 57/1968 requires aval bancario coverage on advance payments; see the bank guarantee off-plan Spain guide for the lawyer checklist.
- Completion is a tax event. The final tranche triggers IVA, AJD, notary, and registry costs detailed in the cost of buying property in Spain guide.
Invest Spain Property tracks payment structures on Costa del Sol and Costa Blanca new build. We are a Spain-focused buyer advisory. When a developer quotes “30% during construction,” ask for the milestone definitions in writing and have your lawyer compare them to industry-standard stage names below.
Standard off-plan payment schedule at a glance
The national pattern is consistent enough to plan against: 1% to 3% at reservation, 10% cumulative at private contract, then 15% to 30% across construction milestones, leaving 60% to 70% at the notary. Developers vary the detail rather than the shape, so you can sanity-check any offer against this template.
| Stage | Typical % of price | Typical timing | Aval required? |
|---|---|---|---|
| Reservation (contrato de reserva) | 1 to 3% (often fixed euro sum) | Day 1 | Confirm collective policy; individual cert may follow |
| CCPV / arras signing | 10% cumulative | 30 to 60 days after reservation | Yes, individual cert mandatory |
| Foundation / estructura | +5 to 10% | Month 6 to 12 | Yes, updated cert |
| Enclosure / cerramiento | +5 to 10% | Month 12 to 18 | Yes, updated cert |
| Finishes / acabados | +5 to 10% | Month 18 to 24 | Yes, updated cert |
| Escritura balance | 60 to 70% | Handover | Mortgage drawdown or cash; IVA + AJD due |
Some developers front-load more into the CCPV (15 to 20% on signing) and reduce mid-build tranches. Others keep arras at 10% and spread three equal milestone payments of 10% each before completion. The total advance before escritura usually lands between 30 and 40% including reservation. The remaining 60 to 70% is the completion payment.
Insider tip: ask for a calendar with euro amounts, not just percentages. On a 400,000 euro unit, the difference between 60% and 70% at escritura is €40,000 of cash or mortgage capacity you must have ready on one day.
Insider tip: compare any schedule you are offered against this shape before signing. A developer asking for more than 40% before completion is financing the build with your money at your risk, which is legal but is a reason to look harder at the guarantee arrangement.
Stage 1: Reservation fee and contrato de reserva
The reservation secures the unit and removes it from the market. The contrato de reserva is short, often two to four pages, and typically requires €3,000 to €10,000 paid within days of verbal agreement.
| Reservation element | What to verify | Red flag |
|---|---|---|
| Unit identifier | Exact phase, block, floor, door | ”Equivalent unit” clauses |
| Refund terms | Cooling-off and refund window | Non-refundable with no guarantee path |
| Price lock | Total price fixed in writing | ”Subject to revision” without cap |
| CCPV deadline | Date by which PPC must sign | Open-ended developer discretion |
| Guarantee mention | Written confirmation aval covers reservation | Silence on Ley 57/1968 protection |
Reservation payments sit in a grey zone. Ley 57/1968 technically applies to advance payments on off-plan residential property, and best practice treats the reservation as protected once a collective policy exists. Your lawyer should obtain written confirmation that the reservation amount is covered and that an individual aval bancario will be issued before the 10% arras tranche. If the developer cannot confirm coverage, make the reservation payment conditional and refundable.
Remote buyers often sign reservation via power of attorney. Allow time for NIE issuance and Spanish bank account opening before the reservation deadline; the remote buying guide covers the sequence.
The reservation is the smallest payment and the one most often made without advice. It takes the property off the market for a defined short period, commonly for €6,000 to €10,000, while your lawyer begins due diligence and the private purchase contract is drafted. Read what the document says about refundability, because a reservation that is non-refundable in all circumstances leaves you exposed if the due diligence turns something up. On a €300,000 scheme the reservation is roughly 2% to 3% of the price, and the 10% arras that follows raises the exposure tenfold within weeks. Have your lawyer read the reservation document before you pay it, not after, because it is the cheapest point at which to walk away. On a €300,000 scheme the whole sequence commits €90,000 or more before delivery.
Stage 2: The 10% arras on private purchase contract (CCPV)
The contrato privado de compraventa (CCPV), also called the private purchase contract or PPC, is the substantive agreement. Signing usually falls 30 to 60 days after reservation. The arras tranche on signing is commonly 10% of the purchase price, inclusive of the reservation fee already paid.
This is the highest-risk payment after completion itself because amounts are large and construction timelines are long. Before the arras transfer:
- Your lawyer reviews the full CCPV, specification annex, and completion date.
- The licencia de obras (building permit) status is confirmed or a condition precedent suspends payment until granted.
- The individual aval bancario is in your hands, naming you as beneficiary for the cumulative amount paid.
- Payment account details match the developer’s segregated advance-payment account.
| CCPV clause | Why your lawyer reads it |
|---|---|
| Completion date | Defines delay penalty triggers |
| Specification annex | Kitchen, flooring, AC, parking, storage |
| Payment schedule table | Must match this guide’s milestones |
| Delay penalties | Liquidated damages or rescission rights |
| Force majeure | Developer cannot use vaguely to extend indefinitely |
| Mortgage contingency | If finance fails, can you exit? |
The arras payment is not a “deposit” in the Anglo-Saxon sense alone. Under Spanish contract law, arras can be penitential (penitential arras) or confirmatory depending on wording. Your lawyer explains which applies and what you forfeit if you walk away without cause. For due diligence on the developer and land title before CCPV, use the due diligence Spain property guide.
The 10% payment is where an off-plan purchase becomes serious, and it is the point at which guarantee discipline starts mattering. On a €300,000 scheme that is €30,000, and it should be covered by its own Ley 57/1968 certificate naming you, the amount and the guaranteeing bank or insurer, held before the money moves rather than promised afterwards. Check that the promoting entity on the contract matches the entity on the certificate. Payments then continue across the typical 18 to 30 month build, and by delivery the sums under guarantee on that scheme commonly reach €90,000 or more. Under the standard penitential arras form, a buyer who withdraws forfeits that 10% while a seller who withdraws repays double, so the symmetry cuts both ways. Read that clause before signing rather than after.
Stage 3: Construction milestone payments
Milestone payments typically add 5% to 10% each at foundation, enclosure and finishes, bringing the cumulative total to around 30% to 40% before completion. Each tranche needs its own guarantee certificate, not one certificate covering the contract stage. After CCPV, developers invoice tranches tied to progress. Spanish contracts often reference technical milestones certified by the architect or visible on site.
Common milestone names and what they mean:
| Milestone (Spanish) | English | Typical extra payment |
|---|---|---|
| Inicio de obra | Construction start | Sometimes folded into CCPV |
| Cimentacion / estructura | Foundations and structure | 5 to 10% |
| Cerramiento | Building enclosed, roof on | 5 to 10% |
| Instalaciones | MEP rough-in | 5% on some schemes |
| Acabados | Internal finishes | 5 to 10% |
| Licencia de primera ocupacion | First occupation certificate | Triggers handover, not always a separate % |
Never pay a milestone because the sales office sends an email. Your lawyer verifies:
- Updated aval bancario covering cumulative payments to date.
- Milestone objectively reached (architect certificate, site photos, or independent snagging visit if offered).
- Developer not in concurso de acreedores (insolvency) on Registro Mercantil search.
- Schedule still aligns with contractual completion date; if delays stack, read the developer delay risks Spain guide.
Some national developers publish fixed calendars: for example 10% at CCPV, 10% at structure, 10% at enclosure, 10% at finishes, 60% at escritura. Others use quarterly billing regardless of visible progress. Reject quarterly billing not tied to measurable milestones unless your lawyer accepts the developer’s track record and guarantee structure.
Projects such as Kosmos and Insur Scala illustrate premium Costa del Sol schemes where payment schedules should be confirmed in writing at enquiry stage, not assumed from a generic template.
Checklist per milestone: an individual certificate naming you and the exact amount, the issuing bank identified, the special account on the transfer instruction matching the contract, and the certificate dated on or before the payment. Four items, all obtainable before money moves.
Stage 4: The 60 to 70% balance at escritura
Completion concentrates the largest cash movement. The remaining 60 to 70% of the purchase price is paid at the notary on signing the escritura publica, together with taxes on new build.
| Completion cost | Typical rate | Notes |
|---|---|---|
| Final price tranche | 60 to 70% of agreed price | Cash or mortgage drawdown |
| IVA (VAT) | 10% of price | New-build residential |
| AJD (stamp duty) | 1.2 to 1.5% in most coastal regions | Andalucia often 1.2% |
| Notary | 0.2 to 0.5% | Regulated scale |
| Land Registry | 0.1 to 0.25% | Title registration |
| Lawyer | 1 to 1.5% | Independent counsel |
On a 350,000 euro unit with 65% due at escritura, the final tranche alone is €227,500 before taxes. Non-resident buyers typically finance 60 to 70% LTV through a Spanish mortgage; arrange mortgage in principle before CCPV, not weeks before completion. The non-resident mortgage Spain guide covers drawdown timing.
Mortgage valuers assess the completed unit. If the valuation falls short, you must cover the gap in cash. Stress-test that gap when modelling the schedule at reservation, not at handover.
Buyer scenario: on a €380,000 unit the notary day requires roughly €266,000 of balance plus €38,000 IVA and around €5,000 AJD, all in cleared funds. Buyers who plan the staged payments carefully and forget the completion block arrive short by five figures.
How aval bancario tracks each tranche
The guarantee schedule has to move in lockstep with the payment schedule, tranche for tranche. A certificate issued for the 10% contract stage says nothing about the milestone transfers that follow, and those later payments are the ones most often left uncovered. They must move in parallel. After each protected payment, the individual certificate should show the new cumulative total.
| Payment | Minimum lawyer action |
|---|---|
| Reservation | Written confirmation collective policy covers amount |
| CCPV 10% | Original individual aval in your name |
| Each milestone | Updated aval matching cumulative paid |
| Pre-escritura | Confirm guarantee expiry covers completion date |
| Escritura | Final payment; guarantee released on registration |
If a developer offers to “send the aval after payment,” refuse. The bank guarantee off-plan Spain guide documents Supreme Court support for buyers but also shows that missing certificates slow claims. Prevention is cheaper than litigation.
Red flag: a developer who issues one certificate at contract stage and treats it as covering everything after. The Supreme Court has held banks liable under collective guarantees without individual certificates, but recovery took months rather than weeks. Insist on one per payment.
Worked example: 380,000 euro Costa del Sol apartment
The worked example below runs a €380,000 Costa del Sol unit through the full schedule: €6,000 at reservation, €32,000 to reach the 10% contract stage, milestone tranches across construction, then the balance plus 10% IVA and 1.2% Andalusian AJD at the notary. Illustrative only, not a live offer. Always read your contract.
| Date | Event | Payment | Cumulative % | Cumulative euros |
|---|---|---|---|---|
| Month 0 | Reservation | €6,000 | ~1.6% | 6,000 |
| Month 2 | CCPV signed | €32,000 (to reach 10%) | 10% | 38,000 |
| Month 8 | Estructura | €38,000 | 20% | 76,000 |
| Month 14 | Cerramiento | €38,000 | 30% | 114,000 |
| Month 20 | Acabados | €38,000 | 40% | 152,000 |
| Month 24 | Escritura | €228,000 (60% balance) | 100% | 380,000 |
Add roughly 12 to 15% on top for IVA, AJD, notary, registry, and legal fees at completion. Total cash and borrowing capacity required through the build: €152,000 in staged payments plus completion tranche and taxes.
Compare against buying resale with a single ITP event in the off-plan vs resale Spain guide. Off-plan spreads cashflow but locks you into developer performance risk.
Negotiating and documenting schedule changes
Schedule terms are negotiable more often than buyers assume, though not on a fast-selling launch. What is almost always available is a refundability condition on the reservation and a written commitment that each tranche will be certificated before it falls due. Developers with strong momentum rarely rewrite templates for one buyer. Smaller promoters and phased releases sometimes flex:
- Later first milestone in exchange for higher reservation.
- Fewer mid-build tranches for buyers paying larger CCPV arras.
- Mortgage contingency extending CCPV signing if loan approval pending.
Any change must appear in a CCPV amendment with updated aval reflecting new cumulative exposure. Verbal agreements at the sales office are not enforceable. Your independent lawyer drafts or reviews amendments; never the developer’s in-house counsel acting for you.
Insider tip: ask for the reservation to be refundable and conditional on your lawyer confirming the guarantee and build licence. Most developers accept the clause if you raise it before signing, and almost none offer it. That sentence converts a €6,000 leap of faith into a controlled first step.
Remote buyers and power of attorney payment timing
Remote buyers cannot attend every signing across an 18-to-36-month build, and a power of attorney at roughly €300 to €600 including apostille solves it. Scope it to the specific transactions rather than granting general authority. Power of attorney (poder notarial) lets a representative sign CCPV and attend escritura. Milestone payments still flow from your Spanish bank account with aval verified in advance.
Sequence for remote buyers:
- Appoint lawyer before reservation (how to buy property Spain step by step).
- Obtain NIE and open Spanish account.
- Lawyer receives aval and authorises each transfer per your written instruction.
- POA limited to property transaction, not blanket financial authority.
Never allow the developer’s recommended gestor to control both contract review and payment authorisation.
Red flags on payment schedules
Six patterns on a payment schedule justify pausing before the next transfer, and each is verifiable within a day. They share one shape: money moving faster than paperwork, usually with a front-loaded schedule above 40% before completion. Walk away or pause if you see:
- More than 40% demanded before meaningful construction progress without premium discount or strong developer balance sheet.
- Milestone invoices without site evidence or architect certification.
- Any stage payment without updated aval bancario in your name.
- Completion date after aval expiry with no extension letter from the guarantee bank.
- Pressure to wire to a non-Spanish or personal account instead of segregated advance-payment account.
- Schedule tied to “sales targets” rather than construction events.
These overlap with general off-plan red flags in the off-plan property Spain guide but are payment-specific. Escalate immediately to your lawyer; suspension of payment may be legally justified when guarantees are missing.
Red flag summary: more than 40% due before completion, no certificate issued after a payment, a transfer requested to a general company account, a promoter that cannot name its guaranteeing bank, wording promising the guarantee will follow completion, and any pressure to pay before documents are issued.
Payment schedule vs financing: matching tranches to mortgage
Spanish banks lending to non-residents usually issue mortgage in principle on plans early but execute valuation and drawdown near completion. Your equity must cover all stage payments plus purchase costs until the final 60 to 70% tranche.
| Funding source | Covers which stages |
|---|---|
| Buyer cash | Reservation through milestones |
| Developer schedule | All tranches per CCPV |
| Mortgage drawdown | Primarily final balance at escritura |
| Bridge loan (rare) | Sometimes milestones; costly for non-residents |
If Euribor-linked rates move during construction, your monthly payment at drawdown changes even though the price was fixed at reservation. Fixed-rate products at completion are available from several Spanish lenders; model both scenarios with your broker.
Closing verification checklist
Close Off Plan Payment Schedule Spain Guide for Investors on six checks, each finished in days rather than weeks. Budget 10% to 13% over the price for tax, notary, registry and independent legal work, keep the lawyer independent of the seller and agent, and treat every item below as a condition of the arras contract rather than an afterthought.
- Compare brochure schedule to signed CCPV table line by line.
- Confirm aval bancario before reservation if amount is material.
- Hold individual aval before 10% arras leaves your account.
- Verify licencia de obras or valid condition precedent on CCPV.
- Before each milestone: updated aval, site evidence, insolvency search.
- Confirm aval expiry date covers contractual completion plus buffer.
- Model 60 to 70% completion payment plus IVA, AJD, notary, registry.
- Align mortgage in principle and final valuation timeline with escritura date.
The off-plan payment schedule in Spain is predictable once you know the stages: reservation, 10% arras on CCPV, construction milestones with aval at every tranche, and 60 to 70% at escritura. Treat the calendar as a legal document tied to guarantees, not a sales convenience. Pair this milestone map with the off-plan property Spain guide for market context and the bank guarantee off-plan Spain guide for guarantee verification at each payment.
Reserving off-plan stock? Request a CCPV milestone table review and aval checklist before your first transfer.
Off-plan payment reviewFrequently Asked Questions
Reservation of €3,000 to €10,000, 10% on CCPV signing, milestone tranches often totalling 20 to 30% during construction, and 60 to 70% at escritura on completion. Exact percentages are set in your contract.
Usually on signing the private purchase contract 30 to 60 days after reservation. The aval bancario must be in your name before this payment. Never pay arras without the individual guarantee certificate.
Yes. Ley 57/1968 requires aval bancario or approved insurance on advance payments. Your lawyer verifies an updated individual certificate before each milestone tranche.
Typically 60 to 70% of the price at escritura, plus IVA at 10% and AJD stamp duty. Budget 12 to 15% total purchase costs on new build.
Sometimes with smaller promoters. Any change must be written in the CCPV with updated aval coverage. Reject verbal promises not reflected in the contract.
You may trigger default clauses or deposit forfeiture depending on CCPV wording. Contact your lawyer immediately. If the developer failed to provide aval, you may suspend payment until the guarantee is delivered.
Get a Spain property shortlist
Tell us your budget and market (Costa Blanca, Costa del Sol, Balearic Islands). We reply within one business day with options matched to your goals.