How investing in property on Costa Blanca results in a “Win Win Win” for the buyer.
Investing in real estate is always considered one of the safest investments with the biggest long- term returns.But what is so special about Spain’s Costa Blanca, and why now?
1. Location
Costa Blanca is on the Mediterranean south coast of Spain. Part of Alicante province, it includes big cities like Torrevieja, Denia, Orihuela and Alicante, itself. The World Health Organization voted TORREVIEJA as one of the healthiest places in the world to live, largely because of the two natural salt lakes just inland.They are the biggest of their kind in Europe and form a micro-climate, unique to the region.
Additionally, the Costa Blanca and Orihuela Costa in particular, has so much to offer sport lovers.There are dozens of bicycle routes, tennis courts, top golf resorts and water sports available all year round.Direct flights from all over Europe land at Alicante Airport, only 30 minutes to the north.
All of this makes the area very popular among Europeans, but property prices for both homes and investment remain much lower than in Marbella or Mallorca, for example.
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2. Weather
Costa Blanca enjoys an average 320 sunny days a year, with winter temperatures a very comfortable 18 degrees.This makes the area THE most-desired out-of-season destination among Europeans.Marbella is on average 3 degrees cooler, and Barcelona is a whole 6 degrees colder during winters.
3. Infrastructure
Transportation:
The area of Costa Blanca has good infrastructure with regular buses between the larger towns, and a fast train that takes you to Madrid in less than 3 hours.
Healthcare:
The health system in Spain is one of the best in Europe. There is always a hospital within easy reach.EU citizens will be pleasantly surprised that their universal health insurance is also valid here in Spain.It is possible to apply for local health insurance if you are staying here for a few months or private cover for permanent residents.
Schools:
Public schools in Spain are very good and they are free to attend to all children including expats. Private international schools cater for students of all languages.
Photo by: Goran Gilaxia
4. Relocation costs
Spain is one of the easiest countries in Europe to relocate to, all EU citizens can apply for a residency permit.Working in any business or even starting your own enterprise is possible in Spain, with the right paperwork.Hundreds of businesses owned by foreign citizens already operate successfully throughout the Costa Blanca, so help and advice is always available.
Non-EU citizens can get a Non-Lucrative Visa (NLV) by applying to the Spanish Embassy in their own country. Applicants must have no plans to work in Spain, and minimum amounts of savings do need to be proven.Alternatively, the Golden Visa can be obtained if the applicant can show they have €500,000 to invest in a property, and buy that property within three years.
5. Beaches
Costa Blanca has an impressive 200 kilometers of coastline with dozens of award-winning Blue Flag beaches.
Many have year-round sports facilities with free activities included, even out-of-season.
Chiringuitos (beach bars) pepper the beaches in the summer, offering cold drinks and small meals or tapas for beachgoers.
Non-EU citizens can get a Non-Lucrative Visa (NLV) by applying to the Spanish Embassy in their own country. Applicants must have no plans to work in Spain, and minimum amounts of savings do need to be proven.
Alternatively, the Golden Visa can be obtained if the applicant can show they have €500,000 to invest in a property, and buy that property within three years.
Villas directly from a developer
This villa consists of 3 bedrooms (with an option to 4-5 bedrooms), 2 bathrooms, a living room with an open plan kitchen, terrace, a rooftop solarium with stunning views on a pink lake and Mediterranean sea, a parking place, and a garden with a swimming pool.
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6. Prices
The cost of a meal on Costa Blanca varies immensely.
Many establishments offer FREE tapas with a drink, and a Menu del Dia (3-course menu of the day) can be between 7 and 15 euros.Dinner at a high-class restaurant with a bottle of wine and 3-5 courses can cost less than 50 euro per person. Foreign cuisines such as Italian, Indian, Far East, Indonesian and Korean are all catered for.
The price of real estate brings even more pleasant surprises.
A new-build 2 bed, 2 bath apartment in a luxury complex with swimming pool and gym can cost as little as €170,000, whilst a similar-style apartment in Andalucia (Malaga, Marbella etc) or Mallorca can cost €400,000.
A modern villa with its own swimming pool on Costa Blanca will cost you an average of €340,000, whilst a Marbella equivalent will cost €900,000.
7. Supply and demand
Real estate development on Costa Blanca is active, once again, reflected by the recent increases in asking prices for new-builds. For example, a 3 bed 2 bath penthouse that sold in 2015 for €170,000, was on sale in 2021 for €230,000.
Many developers enjoyed more sales than ever during the Covid pandemic in 2021. We have seen complete apartment complexes being sold out a year before completion, similarly with villas.The price of real estate brings even more pleasant surprises.
A new-build 2 bed, 2 bath apartment in a luxury complex with swimming pool and gym can cost as little as €170,000, whilst a similar-style apartment in Andalucia (Malaga, Marbella etc) or Mallorca can cost €400,000.
A modern villa with its own swimming pool on Costa Blanca will cost you an average of €340,000, whilst a Marbella equivalent will cost €900,000.
8. Raising cost of materials
Building supplies rose all over Europe in 2021, meaning developers have had to pass on that cost to buyers.
Properties projected for completion in 2023 will cost more than those available this year.
9. Return on investments
Investors that buy new-build properties on Costa Blanca for renting out can expect a 7% gross yield, one of the highest returns in Europe.
10. Financing
Spanish banks give up to 70% mortgages for foreigner buyers with interest rates as low as 2%.
CONCLUSION
Each and every one of the 10 points listed contribute to increasing popularity – and because of that, rising prices. There is no doubt that prices will continue to rise and those buying on the Costa Blanca NOW will enjoy great properties in a great area with a superb return.
It’s a Win Win Win!
New built properties for sale on Costa Blanca
LUXURIOUS NEW 3 BED VILLA ON SPACIOUS PLOT Gorgeous new villa located in the Villamartin – Costa Blanca. With a total location value of 185m2 and a modern style, you will enjoy this stunning villa with spacious outdoor areas. Consisting of living-dining room with open kitchen, 3 bedrooms and 3 bathrooms, with access to the […]