Alicante Real Estate
Find your new home in the sun at a reasonable price
Upsides of buying a house in Alicante
Alicante is a Mediterranean city that offers a magnificent quality of life due to its warm and sunny climate, its affordable prices, its gastronomy, and its network of shops. With both a port and a beach, it is a very attractive destination for foreigners and investors looking for good buying opportunities.
Coinciding with the increase in real estate prices, Alicante is currently the fourth most profitable city in Spain.
With an annual interest of 7.7%, commercial premises are the most valuable type of property, Homes, however, are usually the favorite choice of European investors with an annual interest of 6.4%. At around 8% annual interest, renting to tourists can be the most beneficial option, while still allowing owners to occasionally enjoy their property as well.
Property prices in Alicante
The real estate market in Alicante is quite affordable. Prices vary between areas. Property near the larger avenues or in buildings from the 1970s can cost around €1,800 per square meter while property in the old town or on the seafront can cost around €2,500 per square meter. Charming one-bedroom / 80 square meter central apartments can be found for less than €150,000 and sea-facing apartments with beautiful views can be found for around €200,000. In the more exclusive areas 4-5 bedroom/ 200 square meter villas with a garden and a pool are available for €400,000. These are similar prices to those that can be found in some of luxury apartments in residential complexes with communal gardens, large swimming pools, tennis courts, a spa, etc.
For many people in Alicante, the San Juan Beach neighborhood (Playa de San Juan), with its proximity to both the beach and golf, is the best zone to live in. The neighborhood of Santa Cruz is the most charismatic and is the only one to preserve its old houses and narrow streets overflowing with shops. Even though it can get very busy and full of nightlife, Santa Cruz’ inhabitants consider it a calm place to live. The Albufereta is a charming place in front of the sea. The Avenues (las Avenidas) is usually considered a good area of the city and offers many services.
Buying a property in Alicante as a foreigner
For foreign individuals and companies the purchase process in Spain is simple. It is recommended to go through a real estate agency as they can guide buyers while helping with some of the required processes and paperwork. Once a property has been chosen, a deposit agreement is usually signed which legally commits both the seller and the buyer to complete the transaction. At the time of the deposit agreement, 10% of the value of the property is paid and deducted from the final price in front of a notary.