Real estate in Benidorm: comfortable apartments in the east of Spain
Benidorm is known for its immense beaches, beautiful promenade and a warm climate. A crown jewel of the Spanish resort — its giant residential-style skyscrapers. Both local population and foreign investors arriving into the city are aiming at purchase of luxury apartments in these architectural masterpieces. Fashionable country villas are also in a great demand. It is beneficial to use such real estate in Benidorm for permanent living of the whole family or to rent it out to visitors. You can earn tens of thousands of euros per season for rental here, depending on the size and condition of the apartments.
Real estate purchase in Benidorm: benefits for foreigners
Buying local residential and commercial properties is beneficial for a number of reasons:
- If to buy a real estate in the amount of 500,000 euros or higher, a foreigner can count on a residence permit with the right to permanent residency in two years.
- Purchased property can always be resold at a higher price. Housing prices in Benidorm are increasing at an average by 15-25% per year.
- The property acquisition tax here does not exceed 10%.
Prices for property in Benidorm
Each buyer will find a viable option in the picturesque Spanish city. It is quite possible to buy a one-bedroom flat here for 65,000-70,000 euros. Two-bedroom and three-bedroom apartments will cost much higher. The price of such an expensive property in Benidorm reaches 120,000-150,000 euros.
The cost of housing may vary depending on its location. The most expensive options are found at the seaside and in the luxury areas such as the Rincon de Loix and the Poniente. The price per square meter here reaches 3000 euros.