Real estate market in Alicante

    Real estate market in Alicante

    Real estate market in Alicante

    Alicante is the capital of the Spanish region of the same name as part of the autonomous community of Valencia, the middle of the resort tourist area of the Costa Blanca. The city is also the region’s main administrative, business, and commercial center. The number of inhabitants in Alicante exceeds 300 thousand people, of which more than 15% of the local population are foreigners. An active urban business environment and attractions from many historical eras, five beaches with a total length of 8 km attract tourists and investors in local real estate from all over the world to the city. That is why investment apartments in Alicante are very popular.

    Alicante combines a created contemporary metropolitan infrastructure and a historic center with magnificent old buildings and narrow streets. The city has regular rail and auto connections with many cities and regions in Spain. The city is constantly developing thanks to the seaport and a large international airport with air links with many countries in Europe and the world. The local real estate market is even quite developed in Alicante. The most prestigious flats and apartments are located near Plaza de los Luceros and Plaza de la Santa Faz, on La Rambla de Méndez Núñez, and others.

    Alicante is discovered at the foot of Mount Benacantil – one of the city’s main attractions, on top of which stands the fort of Castillo de Santa Bárbara, with beautiful views of the port and the city. Therefore, apartments with mountain views close to the beach are highly valued among local residents and foreign investors. More modest apartments are located in remote areas from the city center and the waterfront. The price of a sq. m.of accommodation in Alicante significantly relies on the length to the sea, the kind of property, and residence conditions.

    Real estate costs

    Alicante is a city on Spain’s southeastern coast in the Valencia region, famed for its beautiful beaches, warm climate, and historical landmarks. Like any popular tourist spot, real estate costs in Alicante can vary based on location, property type, market demand, etc.

    Real estate in Alicante varies significantly in price depending on its type and location; for instance, studio apartments located within city centers typically range between EUR60,000-100,000. Larger apartments with multiple bedrooms typically cost EUR100k-250k, while villas boasting ocean views can cost anywhere between EUR300K-EUR1 million or even higher.

    Location is essential in determining the cost of property ownership in Alicante. Alicante boasts many unique neighborhoods with vastly differing real estate prices – for instance, city-center properties tend to be the most costly. In contrast, suburbs or smaller towns outside the city tend to be more economical.

    Location and property type aren’t the only factors in Alicante real estate costs; market demand also has an influence. For example, when visitors flood in for tourist-filled summer months, prices can become considerably more costly; conversely, winter months often see lower demand levels, meaning prices might be more negotiable.

    Location and property type aren’t the only factors in Alicante real estate costs; market demand also has an influence. For example, when visitors flood in for tourist-filled summer months, prices can become considerably more costly; conversely, winter months often see lower demand levels, meaning prices might be more negotiable.

    Considerations should also include Alicante’s cost of living when considering real estate costs in this Spanish city, even though real estate prices can be lower. In addition, food and drinks in restaurants and bars may cost more, and utility bills could increase due to a warm climate requiring air conditioning systems.

    On average, the cost per sq. m. of housing in the beach area and the city center is 2 000 euros, and in areas with a distance of about 2 km from the sea – from 800 euros. New residential complexes are being built in the city, and flats with many amenities are being commissioned, with costly repairs and the availability of all necessary equipment. For instance, a one-bedroom flat in a new establishment near the sea will cost 85 thousand euros, with two bedrooms – from 100 thousand euros. Modern accommodation on the first line from the sea with an actual design can be bought for 3000 – 4000 euros per square meter. In remote areas from the sea and the city center on the secondary market, a flat can be purchased for 40 000 euros.

    Unlike many spa towns on the Costa Blanca, Alicante does not significantly depend on the holiday season. Active city life functions here all year round, so local real estate is in demand among many investors. The most liquid in the city is real estate near the beach. Housing is purchased here for further rental to vacationers and tourists. The average cost of renting an apartment near the sea is about 1000 euros per month.

    Overall, real estate costs in Alicante vary widely depending on various factors; however, since Alicante is both a tourist hot spot and a desirable residential destination, prices will likely remain relatively high. Before purchasing property in Alicante, consult a real estate agent or lawyer familiar with the local market.


    Benefits of buying property in Alicante

    The main benefits: 

    • favorable warm climate, well-groomed city embankments, beaches, many parks and alleys;
    • Alicante is a port city on the seashore, is a major center for catching and selling fish and seafood;
    • Alicante has a major international airport, train and bus stations;
    • the city has many architectural and historical sights created under the influence of many eras and cultures, so the city is visited by a large number of tourists all year round;
    • the city is distinguished by a developed urban and resort infrastructure, and there are many modern hotels and shopping centers, sports facilities;
    • the developed entertainment industry, many sports and cultural events are regularly held.

    Visiting card of Spain – Alicante

    Currently, the city remains consistently attractive, and many foreigners are looking to buy property in Alicante, Spain, investing money profitably. As a rule, they buy a ready-made business or build it from scratch and increasingly stay to live permanently in this beautiful city and its environs.

    Spain-Real.Estate offers a wide range of housing in Alicante, both from the developer and the secondary. You can choose the best option for the total area, the number of bedrooms, and restrooms, with a sight of the sea or away from the hustle and bustle. With this aggregator, purchasing a property in Alicante will be an enjoyable experience for you.