Apartments in Torrevieja: profitable acquisition for foreigners
Torrevieja has a special place among other resort zones in Spain. This small town located on the Mediterranean coast catches foreigners with its mild climate and famous sandy beaches. Many tourists, having been here once, tend to buy local apartments for permanent residency. Moreover, prices for residential property in Torrevieja are much cheaper than in other Spanish resorts. Foreigners with an average income can buy here a one-bedroom flat or a small house from 25 to 50 thousand euros.
Where to buy an apartment in Torrevieja
When hunting for an apartment, it is worth to consider the area of your future residence:
- Centro. This area is located in the city center. It has a well- developed infrastructure and densely populated.
- Los balcones. A bedroom community with numerous luxury villas. In a great demand of the high income buyers. The cost of houses in Torrevieja starts here from 200 thousand euros.
- La Siesta — El Salado. Tourists often relocate here for permanent residency for medical purposes. Favourable area location between two healing lakes conduces to good health.
Why is it profitable to buy property in Torrevieja
The benefits that foreigners get from buying local apartments are obvious. Firstly, Spain has low real estate purchase tax not exceeding 10%. Secondly, buying a property in Torrevieja, you can make good money from renting it out. Two-bedroom and three-bedroom apartments are of special demand among the tourists. Thirdly, any acquired residential or commercial property from 500 thousand euros is guaranteed to give foreigners a residence permit.