Every year, about 6.5 million tourists visit the most popular resort region of Spain — the Costa Blanca. They are attracted by the almost year-round beach holiday opportunities and the wide choice of resorts it offers: from the famous Benidorm, full of youth and nightclubs, to the quiet Albir. Real estate in this region is also popular among foreigners: Germans and the Britons began to buying here 40 years ago.
Why is it profitable to buy property on the Costa Blanca?
Among the reasons for the demand for real estate in this region, profitability and liquidity are in the first place: renting an apartment or villa brings a 5-6% per annum benefit and, thanks to constant demand, selling is no more difficult than buying. The second place will probably go to the specifics of the area: there is everything necessary for permanent comfortable living here — from a mild sunny climate to a well-developed infrastructure. Older people from the Scandinavian countries, Britain and the Federal Republic of Germany are especially eager to move to the coast. The rich local selection of real estate is also important, and it isn’t only residential, but also commercial.
Those wishing to purchase residential property on the Costa Blanca, Spain, can choose between:
- Villas of different sizes. The vast majority of villas were built in the last decade, they are characterized by their modern design and comfortable layouts. An outdoor pool is often located in the area
- Apartments. The choice in this category of real estate is very wide: from 1-room apartments with an area of 50 sq.m to luxury apartments with an area of 600 sq.m. Most often, apartments are located in modern residential complexes or in elite condominiums with low-rise buildings;
- Townhouses. A typical townhouse has an area of 100-150 square meters and usually houses 2 or 3 bedrooms. Like villas, townhouses come with a fully equipped kitchen.
Property prices on the Costa Blanca
The cost of housing in this region is influenced not only by the properties’ footage and proximity to the sea, but also by their geographical location: the most expensive real estate is located in the north of the coast. In the south, prices are lower, although the choice is no less wide. An apartment will be the cheapest: for 105 thousand euros it is quite possible to buy a 1-2-room apartment with an area of 50-70 sq.m. On average, a 2-3-room apartment costs around 130-150 thousand euros.
Luxury apartments in the center of Alicante sell from half a million euros. For that money you can also buy a villa with a swimming pool, although it is not difficult to find a villa for 345-400 thousand euros. The cheapest townhouse costs 120 thousand euros, but on average these properties are sold for 170-250 thousand.