One of the most important decisions we make is where we live. Although many people don’t spend much time thinking about the location they’d like to live in, this is just as important as other factors. Now, the Costa Blanca is among the best places to live or holiday in Spain. If the sun, sea, and beach are attractive to you, then this is an excellent place.
The Costa Blanca is found in Alicante province. Its coastline is adjacent to Mallorca. One reason that makes people consider this place is that real estate is much cheaper than most areas. Also, this stretch of coast is closer to Germany and the UK than the more southern Costa del Sol, and offers a good all year-round temperature, unlike the more northern Costa Brava. If you’re thinking of buying or renting a holiday home, here are some excellent reasons why you should consider the Costa Blanca. We asked Juan Soler, the marketing director of Javea.Properties on the Costa Blanca for his reasons for recommending investing in Spain and he offered this tips below.
First, an Overview of the Costa Blanca
The Costa Blanca is a stretch of coast that enjoys sunshine all year round. It has wonderful beaches and landscapes which are sufficient reasons for buying a property in this part of Spain. Plus, it enjoys better infrastructure than other regions in Spain. Overall, there are 17 top class golf courses and many marinas, on the coast. Additionally, the area offers an exciting nightlife as well as family enjoyment facilities such as theme parks like Aqualandia, Terra Mitica, etc. And if you love walking, then you’ll enjoy beautiful landscapes with excellent views of sandy beaches.
So Why Buy on the Costa Blanca?
Stable Real Estate Market
Along with the many reasons to love the Costa Blanca, it offers good economic conditions and stable property prices. Not to mention, the design of many properties in the area is modern, attractive, and practical Construction has always been big business in the south part of the Costa Blanca, with not so much activity in the less built up North, with the exception of Benidorm. This, therefore, means that buyers have plenty of choice when it comes to choosing a property – whether buying a new build or a resale home.
Even if your budget is tight, you can still afford a home since properties that have been empty and unsold since the recession are often offered cheaply by banks. Again, new buildings are increasing in number, which means that the Costa Blanca’s real estate market is flourishing. Also, with increasing new constructions, the market share of resale and homes purchased from banks are declining, hence providing buyers with favourable property deals.
As Spain enjoys great tourism, the real estate market development is continuously increasing. Banks are for the main part offering private buyers’ loans for real estate purchases. Today, one can borrow up to 80% of the total price of the building. This attracts the attention of investors from abroad, mainly the Dutch, Scandinavians, Belgians, and Brits.
The Costa Blanca is Not Expanding
Contrary to what many people think, this is a positive thing that should motivate one to invest in a property in this location, because beautiful places on the Costa Blanca coastline are limited.
North or South?
The Costa Blanca is divided into two regions; north of Alicante, and south.
The north enjoys beautiful beaches with plenty of secluded coves and rocky promontories. Mountain chains that spread across these beaches into the sea create appealing coastal scenery. For those who want to enjoy quiet lives away from the streets’ hustle and bustle, they should settle in this region, particularly, Altea, Javea, or Calpe. Those who want a lively life, need look no further than Benidorm. It has many high-rise apartment buildings and offers great property prices. Apartments, for instance, will cost anywhere between 30000 – 450000 euros, so there is something for all budgets.
Individuals who want to live close to the beach in a luxury villa should consider living south. Locations include Torrevieja, Santa Pola and Guadamar del Segura. Like IN THE North, properties are available at all prices, but you are likely to get more for your money in this region. It would be wise to work with a reputable real estate agent who’ll help you find your dream home as per your budget.
Many Investment Opportunities for Holiday Renting
Some owners decide to rent their holiday homes when they’re not around, but this will be dependent on tourism rental laws in your chosen town. In most cases, property owners of vacant properties can rent their houses once they’ve acquired a license.
The rent you can ask depends largely where your house is located. If it is a desired location, for instance, for a luxury villa in Javea you could charge 2000€ per week. However, a one bedroom flat I Benidorm would probably only fetch around 400-500€
As we’ve said earlier, the Costa Blanca’s real estate market is positively progressing. Therefore, property prices will continue to rise. Thus, investors should buy homes now when prices are still favourable.
Another reason to buy on this coast is, luxury properties such as detached villas or elegant townhouse are less expensive compared to those in nearby Mallorca. It is still relatively inexpensive to purchase high-quality properties or buildings in prime locations such as Javea or Moraira.
There is some demolition of old buildings as new ones are being constructed. As a result, there are more properties of a high standard on the market. The downside of this is less budget “fixer-uppers” are available, and the number is likely to further decrease in the next decade, so if this is the type of property you are after, now is the time to buy.
Another reason to buy on the Costa Blanca, or indeed, Spain in general, is although prices for properties have risen over the last few years, they’re still less than almost all countries in Central Europe. The prices are still far below pre-crisis levels; hence as an investor you can find great deals.
So, if you plan on buying to sell a property later at a higher price, is wise not to hesitate. As time goes by, the value of properties in the area will go up. Thus, you’ll be able to sell your home at a significant profit when the time comes.
If you’re thinking of purchasing a home in Spain, the Costa Blanca is an excellent location. With beautiful landscapes, fabulous beaches, a favourable climate, and with an enhanced infrastructure. The Costa Blanca has a lot to offer regarding good living as well as investing needs. However, always work with an expert real estate agent to help you find a good deal.