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Your agent in Alicante
Sylwia Wichniewicz
Buying a property in Spain? Think ALICANTE
If you are dreaming of buying a property in Spain, start your journey by exploring the magical province of Alicante. Whether you are looking for a place for a second home to recharge your batteries or want to move your work to conditions that stimulate your imagination, Alicante will not disappoint you.
Property listings in Alicante
What do you need to know at the start?
The province of Alicante is located in eastern Spain in the Autonomous Community of Valencia, on the Mediterranean coast, in the tourist region of Costa Blanca, which is sometimes referred to as the White Coast. This imaginative name is by no means coincidental. It takes its name from the white sand of the local beaches, the almond tree that grows here and blooms with white flowers, and the whitewashed walls of the houses.
Alicante borders Valencia to the north, Murcia to the south-west and the Mediterranean Sea to the east. This unique location and friendly climate make it not only one of the more popular tourist destinations in Spain, but also an object of interest for investors looking for property in Spain. The reasons why thousands of tourists flock to Alicante every year are endless.
These same factors also make Alicante a good destination to buy property in Spain and a great place to live.
Let us list a few of them:
Year-round temperate climate
It is estimated that there are 320 days of sunshine a year, and the high temperatures (25 -31 degrees between June and August) go hand in hand with a high, approx. 68% humidity, which somewhat distinguishes the Costa Blanca from the Costa del Sol, where summers are drier.
The water on the Alicante coast is also hotter, thanks to warmer sea currents and the greater distance from the ocean. It is also hard to get cold here in winter, with an average temperature of 14-15 degrees from December to February.
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Picturesque terrain
When you decide to buy property in Alicante, you can enjoy over 250 km of the Costa Blanca coastline. These beaches are considered to be some of the cleanest and safest in Europe, as evidenced by the number of Blue Flags awarded each year. As many as 74 beaches have been labelled with them for 2022.
Alicante is also home to breathtaking landscapes such as rocky promontories jutting out into the sea and green nature parks. The Alicante terrain is loved by cycling enthusiasts from all over Europe.
They are particularly attracted by the winter season.
Mediterranean cuisine
This slogan already speaks for itself. Alicante’s cuisine is famous for its delicious varieties of rice dishes combined with shellfish, fish straight from the cutter or meat and regionally grown fruit and vegetables. As an owner/occupier in Alicante, you will also be able to enjoy excellent local wines. The region’s varied climate gives ideal conditions for grapes such as Muscat, Monastrell or Grenache. There is definitely plenty to choose from. For dessert, we recommend a Spanish delicacy – turrones, dates or delicious ice cream.
Convenient international connections:
If you are planning a trip to see for yourself what the popularity of Alicante real estate entails, you will use Alicante-Elche Airport, located just 8 km from the regional capital of Alicante, in the town of Elche. It is a popular tourist airport and the sixth largest airport in the country in terms of passengers served.
It handles more than 12 million passengers every year. You will find many airlines there, including budget airlines like Ryanair. You can also get to the White Coast by road, taking the motorways: AP-7 San Juan – Valencia, A-31 Alicante-Albacete-Madrid or the Cental – A7 Alicante-Alcoy-Valencia.
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Planning to buy property in Alicante
look for a place to fall in love
Whether you dream of a flat with a pool in Spain or a house by the sea, it’s easy to fall in love in Alicante. The key here will be choosing a destination that can become your second home. Take a journey with us through some of the most popular ones.
ALICANTE
The capital of the province of Alicante is its namesake. Alicante is a city made of contrasts with a charming old town, a harbour with luxury yachts and a business centre all in one. All this is overseen by the magical Castle of Santa Barbara. Alicante is the most important centre of the southern Costa Blanca. It has a population of 337,000, of which up to 21% are foreigners (data from INE/’21). It is a city with a cosmopolitan spirit, popular above all with the British, who invariably make up the largest group of Alicante property buyers. It is thanks to the large British community and the presence of tourists that you will find many English speakers here, as well as English schools. A notable one is King’s College, The British School of Alicante. The University of Alicante, in turn, is considered one of Spain’s more modern and innovative universities. The city also has excellent public transport and a healthcare system.
- Average price of property in Alicante €1,556/m2 (indomio.es/ VI.22)
- Average rental price of a 1-bedroom flat €537/month (numbeo.com/ VII.22)
- Estimated monthly cost of living for 1 person (excluding rental costs) €500 (livingcost.org)
BENIDORM
50 km north of Alicante lies another special place. Benidorm, the city that never sleeps. It is the most famous resort on the Costa Blanca, also known as Spain’s Las Vegas or Manhattan, and has made a name for itself thanks to its many skyscrapers and its entertaining character. Officially, Benidorm has just over 70,000 inhabitants, although this number is multiplied in summer. Surrounded by mountains (which reach 1,558 metres above sea level), it is perfectly sheltered from cold winds from the north. As a result, the weather in Benidorm remains mild even in winter. The town has a high proportion of expats, 33% (data per INE/’21), mainly British. It is a good location for property seekers in Spain who like vibrant urban spaces. Benidorm has 2 beaches: Playa Poniente and Playa Levante. In terms of education, the Costa Blanca International College has a good reputation.
- Average price of a property in Benidorm € 2,284 (indomio.es/ VI.22)
- Average rental price of a 1-bedroom flat €537/month (numbeo.com/ V.22)
- Estimated monthly cost of living for 1 person (excluding rental costs) $444 (livingcost.org)
ELCHE
With over 234,000 inhabitants (13% of whom are expats), Elche (official Catalan – Elx) is located 20 km from Alicante. Unlike Benidorm, it is quiet and peaceful. It also stands out for its…palm trees. Yes, it’s the place with the largest number of palm trees in Europe! The authorities take care of the palm groves to such an extent that in 2000 they were included in the UNESCO list. Although it is not a seaside resort, it is a very good place to relax devoid of unbridled crowds of tourists. However, it will not disappoint beach lovers. It lies in close proximity to the sea, as it is only 30 minutes away. It is a good option for families with children, couples and older people, although singles who enjoy nature, Spanish culture and tradition will also find their way here. If you are planning to buy property in Spain for retirement or a family move, Elche is the city for you. Elche is home to LAUDE Newton College, which is regularly ranked among the top 100 schools in Spain according to El Mundo. What attracts investors to buy property in Elche is undoubtedly the competitive price and the attractiveness of the offers.
- Average price of property in Elche €1,229/m2 (indomio.es/ VI.22)
- Average rental price of a 1-bedroom flat €450/month (numbeo.com/ V.22)
- Estimated monthly cost of living for 1 person (excluding rental costs) €470 (livingcost.org)
The dream home in Alicante is not just about large conurbations
When looking for property in Alicante, you don’t have to target only the big cities. The Idealista portal analysed the small towns (under 5,000 inhabitants) where foreigners were looking for property in Spain in Q4 2021. According to their ranking, as many as six small towns from the province of Alicante made it into the top 20. Here they are:
- Formentera del Segura – average property price €970/m2
- Hondón de las Nieves – average property price 1,029 €/m2
- Busot – average property price €1,484/m2
- Los Montesinos – average property price 1,852 €/m2
- Polop – average property price €1,915/m2
- Ciudad Quesada – average property price 2,207 €/m2
Perhaps your dream house with a pool in Spain is hidden in one of them.
How much does property cost in Alicante?
Już wiesz, że Alicante to miejsce magiczne. Czas na więcej faktów. Oferta nieruchomości Alicante jest różnorodna. Można zostać właścicielem domu lub apartamentu zlokalizowanego tuż przy plaży lub w głębi miast. Wszystko zależy od oczekiwań i zasobności portfela.
Według portalu Idealista średnia cena nieruchomości w prowincji Alicante wyniosła w 2 kwartale 2022 r. 1,815 €/m2 notując wzrost o 4,64 % (83. €/m2) w stosunku do pierwszego kwartału. Niewielka, ale stała tendencja zwyżkowa utrzymuje się zresztą w tym regionie już od kilku lat (z niewielkim wahnięciem w dół w czasie pandemii). Średnia cena za wynajem w tym samym okresie to z kolei 9,43 €/m2 na miesiąc.
How much will taxes be when buying a property in Alicante?
In addition to the cost of the property itself, you still need to factor in a budget for taxes and other operating fees. Experts suggest adding 10-15% to the price of the property. What does this amount include? First and foremost, the taxes mentioned. For a property bought from the secondary market, the transfer tax (ITP) in the province of Alicante is 10% and must be paid within 30 days of purchasing the property. For a property bought from the primary market, VAT of 10% (instead of ITP.) must be paid.
Additional peri-transaction costs include, but are not limited to: notary’s fee, Land Registry fee, cost of an independent solicitor, mortgage-related fees, deed tax and lender’s commission, deed tax when buying from the primary market.
IMPORTANT: In addition to the above costs, when deciding to buy a property in Spain, you will also need a tax identification number (commonly known as a NIE number). The authority issuing the NIE number is the Police.
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Buying a property in Spain, is it worth it?
After a pandemic decline in 2020, the Spanish property market has not only recovered, but has recorded growth. What’s more, a recent report by the Association of Spanish Notaries showed that 2021 was a record year in terms of foreigners buying property in Spain. Foreigners bought 111,743 properties in Spain, 52% more than in 2020 and 9% more when comparing to 2019. The purchase of Spanish properties by foreigners represented 16.5% of the market. The eyes and wallets of buyers turned overwhelmingly towards the region of the Autonomous Community of Valencia, which just includes the province of Alicante. 29,019 sales were recorded there (representing 26% of the total).
The prices of Spanish houses and flats also recorded a consistent increase (apart from a pandemic decrease). The value of the HPi index in the first quarter of 2022 stood at 8.5. What does this mean for those wishing to buy property in Spain? 2 things: firstly, the decision is not worth delaying, and secondly, your property will increase in value.
What kind of return on investment can you count on? According to statistics published in mid-2021 by the Central Bank of Spain, the expected return on the housing market was +7% on average. When it comes to ROI, Spain has been on an upward trajectory for years and there is no indication that this trend will stop.
Why invest in property in Alicante? Let us summarise!
The pandemic has caused a change in priorities, we now manage our savings differently. Investments are supposed to bring financial return, but also have the added value of being able to enjoy a second home in a warmer country. Both will be provided to you by investing in property in Alicante. Let’s summarise why this is a good direction.
1. property prices in Spain are very competitive compared to others in Europe, including Poland, which makes foreigners see Spain as an investment opportunity. What’s more (as we wrote above), property prices are steadily rising and there is no indication that this trend will reverse. Your property in Spain will increase in value over time.
2 The property market in Alicante has a very high economic potential. According to the spanishpropertyinsight portal, the province of Alicante is the most popular destination for foreign investors, both expats and those looking for a second home. If you decide to buy a property in a location popular with tourists, such as the Costa Blanca, and then rent it out, in just a few weeks you can earn an income that covers several months of property maintenance costs. For example, according to the Deloite Property Index 2021, the city of Alicante was ranked the second best rental market in Europe with a return of 4.6%.
3 A number of factors, such as convenient international connections, including low-cost flights from Poland, a moderate year-round climate and high sunshine that promotes a good mood, picturesque terrain or varied Mediterranean cuisine, a high level of security and an affordable cost of living, make Alicante the ideal place for your second home.
By investing in property in Alicante, you are also protecting your capital against galloping inflation.
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