The world famous resorts and the wonderful Mediterranean climate annually encourage thousands of foreigners to acquire real estate in Spain. However, the ability to permanently reside in resort towns with developed infrastructure is a significant, but far from the only advantage of coastal property in Spain. Such a purchase is a profitable long-term investment, especially if you buy beachfront property in Spain by the sea in small towns where it is the cheapest. Since the amount of land suitable for building on the coast is limited, any buildings on the first line will only get more expensive over time.
Advantages of beach property in Spain
- Low investment threshold: 30-40 thousand euros are enough to allow you to become the owner of real estate in a resort location.
- High profitability: renting an apartment or cottage gives you a benefit of 5% to 7% per annum.
- High liquidity: since the demand for beachfront property in Spain is always high, it is very easy to sell it.
- A wide choice, and not only in big cities.
Coastal properties for sale in Spain: what is available?
The most common options are apartments ranging from a 30-meter studio to a three-level penthouse. You can also acquire individual housing of many types: villas, bungalos, chalets and cottages. An intermediate option between an apartment and a house would be a duplex (a two-apartment house) or a townhouse.
Property prices on the Spanish coast
Apartments suitable for immediate settlement cost at least 35 thousand euros: this quantity will buy you a 2-3-room apartment in Gandía or Torrevieja (prices for housing requiring renovation are even lower). In Benidorm or Valencia, the cheapest apartment will cost around 70-90 thousand, while, in the elite Marbella, you shouldn’t even think about such a purchase without 170-190 thousand euros to spare. But if you don’t take the most fashionable resorts into account, then 80-120 thousand euros is more than enough to purchase a 2-3-room apartment on the coast. If you are interested in premium penthouses and apartments, you will need at least $ 1.3-1.5 million.
Bungalows are the cheapest among the houses: in a small resort, you can buy one for 55-65 thousand euros. The cost of villas is averages around 250-600 thousand, while mansions are estimated at one million euros and more. Chalets cost an average of 150-200 thousand euros (but there are options for up to 2 million), duplexes range from 77 to 420 thousand euros, and townhouses vary from 62 thousand to 1.5-2 million.