test
18.1 C
Munich
Thursday, June 20, 2024

Thriving real estate scene on the Costa Blanca

Must read

Beach party for San Juan

Chiringuito owners who are taking part Credit: Ayuntamiento de Fuengirola The Beach Bars (Chiringuitos) of Fuengirola will be providing a night of...

Pig of a problem for Spain

China investigating EU pork dumping claims Photo credit : Pixabay/Mutinka China responded to EU tariffs on its electric vehicles (EVs) with an...

Beat the heat in Spain this weekend

Prepare sensibly for Spain’s rising temperatures Credit: Bradley Hook/Pexels Spain is gearing up for its first heatwave of the summer, with temperatures...

UPDATED INFORMATION: Missing Person - Kelly Saunders

Costa Blanca South UPDATED INFORMATION: Missing Person Kelly Saunders By Donna Williams • Updated: 19 Jun 2024 • 20:01 This article...

Costa Blanca South
Growth and luxury: Thriving real estate scene on the Costa Blanca
By Anna Ellis •
Published: 18 May 2024 • 11:36


In the dynamic Spanish real estate market, the Costa Blanca shines as a region experiencing continuous growth.


Taylor Wimpey España, a British developer, reports a remarkable 40 per cent increase in housing reservations in the area compared to 2023.


This surge is fuelled by clients from 17 different nationalities, underscoring the rising popularity of the Costa Blanca for both residency and investment purposes.


The Costa Blanca s upward trajectory mirrors the positive trends seen in the national real estate market.


According to data from the General Council of Notaries, February 2024 witnessed 53,142 home purchase and sale transactions, marking a 9.7 per cent year-on-year increase.


Specifically, new home transactions surged by 20.83 per cent, accompanied by a 4.24 per cent rise in median home prices compared to the previous year.


These statistics align with Taylor Wimpey Spain s findings, as the company continues its expansion in its primary areas of influence: Costa del Sol, Costa Blanca, and Mallorca.


On the Costa Blanca, Spanish buyers now account for 15 per cent of reservations, signalling a notable uptick in domestic demand within the region.


Fifth Spot

Alicante holds the fifth position in Spain s luxury real estate market, showcasing significant growth alongside the sector s nationwide momentum, which boasts approximately 41,000 properties.


Notably, Alicante experiences particularly robust growth compared to other provinces.


In terms of market share, the Balearic Islands lead the ranking with 24 per cent, followed by Málaga (22.5 per cent), Madrid (12 per cent), and Barcelona (11 per cent).


Alicante secures 10 per cent of the total market share, indicating a notable influx of real estate investment into regions that previously held marginal market shares.


The luxury real estate market in Alicante attracts substantial capital from abroad, although Spanish buyers remain prominent.


European citizens, particularly from Germany, Great Britain, Sweden, Russia, and Switzerland, contribute significantly to this market.


Additionally, there s a growing trend of purchases by US citizens and, to a lesser extent, Mexican buyers.


Single-family homes, situated on beachfront or in mountainous areas, are the most sought-after luxury properties.


Buyers typically fall within the 40 to 50-year-old demographic, often holding executive positions in large corporations, seeking either a secondary residence or a holiday home.


Sign up for personalised news

Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!


By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Privacy Policy for more information about our privacy practices.


Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.


Known as the PEOPLE’S PAPER, Euro Weekly News is the leading English language newspaper in Spain. And it’s FREE!

Covering the Costa del Sol, Costa Blanca, Almeria, Axarquia, Mallorca and beyond, EWN supports and inspires the individuals, neighbourhoods, and communities we serve, by delivering news with a social conscience. Whether it’s local news in Spain, UK news or international stories, we are proud to be the voice for the expat communities who now call Spain home.

With around half a million print readers a week and over 1.5 million web views per month, EWN has the biggest readership of any English language newspaper in Spain. The paper prints over 150 news stories a week with many hundreds more on the web – no one else even comes close.

Our publication has won numerous awards over the last 25 years including Best Free Newspaper of the Year (Premios AEEPP), Company of the Year (Costa del Sol Business Awards) and Collaboration with Foreigners honours (Mijas Town Hall). All of this comes at ZERO cost to our readers. All our print and online content always has been and always will be FREE OF CHARGE.


Sign up for personalised news

Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!


By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.

Close

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Beach party for San Juan

Chiringuito owners who are taking part Credit: Ayuntamiento de Fuengirola The Beach Bars (Chiringuitos) of Fuengirola will be providing a night of...

Pig of a problem for Spain

China investigating EU pork dumping claims Photo credit : Pixabay/Mutinka China responded to EU tariffs on its electric vehicles (EVs) with an...

Beat the heat in Spain this weekend

Prepare sensibly for Spain’s rising temperatures Credit: Bradley Hook/Pexels Spain is gearing up for its first heatwave of the summer, with temperatures...

UPDATED INFORMATION: Missing Person - Kelly Saunders

Costa Blanca South UPDATED INFORMATION: Missing Person Kelly Saunders By Donna Williams • Updated: 19 Jun 2024 • 20:01 This article...