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Costa Blanca: cheap real estate on the white coast of Spain

Alicante is the most popular province in Spain with foreign property buyers. According to statistics from the Board of Registrars of Property (Colegio de Registradores de la Propiedad, Bienes Muebles and Mercantiles de España), in I quarter of 2018, 41% of all real estate transactions in Alicante were made with foreigners, while the national average was only 13 %

Property in Spain
Costa Blanca – part of the Mediterranean coast of Spain with a length of more than 200 km, which coincides with the coastline of the province of Alicante. This is one of the most popular tourist destinations in the country: there are 320 sunny days a year, warm winter and hot summer, more than 60 beaches of the Costa Blanca are marked with the Blue Flag quality award. Especially popular is the southern part of the coast, where the famous salty pink lakes of Salinas de Torrevieja are located (Las Salinas de Torrevieja). All this makes the south of the Costa Blanca a great place for recreation and investment: foreigners buy property here for themselves and for renting to tourists.

Demand increases faster than the national average
The province of Alicante is among the three most active real estate markets in Spain. According to statistics from the Registrar College, in I quarter of 2018, 10 thousand real estate transactions were concluded in Alicante – 18% more than in the same period a year ago. The growth in the country is slightly lower: in the first three months of 2018 in Spain, 15% more objects were sold than a year ago.

Top 6 Spanish provinces by the number of residential real estate transactions concluded in the first quarter of 2018
Provinces

Data: Colegio de Registradores de la Propiedad, Bienes Muebles y Mercantiles de España
In the southern part of the Costa Blanca, real estate is bought more actively than in the north: according to the Spanish Infrastructure Ministry (Minister Minister de Fomento), most transactions in the province in the first three months were concluded in the cities of Alicante and Torrevieja (1.7 and 1.4 thousand . respectively). Their number here is growing faster than the average for the province or the country: by 28% compared with the first quarter of 2017.

Prices are gradually increasing.
According to the Spanish real estate portal Idealista, in June 2018 the cost per square meter in Spain averaged 1,664 euros. In the province of Alicante, real estate is cheaper: 1 331 euro / m², it is also two times less than in the heated markets of Madrid, Barcelona or the Balearic Islands, but 10–20% more expensive than in neighboring Valencia and Murcia. According to Idealista, prices in Alicante are growing more slowly than the national average (annual growth by June 2018 was 5% versus 7% in Spain), but faster than among neighbors (in Valencia, the increase was 3% decreased by 0.5%). If we compare the provincial capitals, then in Alicante the potential for price increases is much greater than, for example, in Barcelona or Madrid, where prices have almost reached the pre-crisis maximum.

The average cost of residential real estate in Spain in the II quarter of 2018
Data: Idealista.com
In the southern part of the Costa Blanca, you can pick up one-room apartment with a good repair and a sea view within 100 thousand euros
In the southern part of the Costa Blanca, you can pick up one-room apartment with a good repair and a sea view within 100 thousand euros
New housing is under construction
Today, more buildings are being built in the province of Alicante than ever since 2008. According to the Spanish edition of Expansión, construction of 2.1 thousand new housing units was launched in the first quarter of 2018 in the province of Alicante – 73% more than in the same period a year ago. In total, in 2018, it is planned to bring 8.3 thousand housing units to the market, 1.9 thousand more than in 2017. According to Anna Boyarchukova, real estate sales manager in Spain, says Tranio: “The growth of construction is a sign of market recovery.”

So far, the secondary housing in the Costa Blanca is in great demand than new buildings: in 2017, five times more sales transactions were concluded on the secondary market of the province than on the primary one. However, due to the increase in the volume of construction, experts expect that interest in new housing will grow.

Number of residential property deals in the province of Alicante
Profitable to rent
According to the National Institute of Statistics (Instituto Nacional de Estadística), Alicante is the fourth most popular province in Spain in terms of the number of tourists living in apartments. in May 2018, 88 thousand tourists rented apartments here.

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