By: Sascha Badelt – Cloverhut’s managing director
Spain has been a firm favourite second home destination for Brits for many decades, with the towns, cities and small coastal resorts all across the country bringing something unique to the international real estate market.
Buying a house on the Spanish coast is a great idea if you are looking for an attractive retirement or family holiday home. A house by the sea is also a brilliant investment if you plan to buy to tourist rent, as properties along the Spanish coastline will have high occupancy rates during the summer months, providing a steady stream of extra income.
There is also the likely chance that these properties will increase in value in years to come, especially as Spain remains one of the best places to buy property in Europe, according to Halo Financial.
Anyone looking at the best places to buy property on the Spanish coast has a large choice, and now is in excellent time to invest due to the competitive market.
Here are five of the top locations to consider.
One of Spain’s most popular real estate locations is Alicante. With its name translating to ‘the city of lights’, Alicante is a very popular place for foreign property buyers, and boasts palm tree boulevards, stunning beaches and a pleasant climate, all of which are very attractive to tourists.
When purchasing a home in the city, you can expect an abundance of cultural heritage, delicious local cuisine and that all-important warm weather. A big lure for many buyers is Alicante’s leisure attractions, suited to both young and old, with world-renowned golf courses, jet skiing, surfing and a variety of other water sports on offer.
British property investors often choose Alicante as it is easy to get to all year round, with the transfer from the airport to the city centre taking just 30 minutes. Alicante’s Mediterranean climate is another factor making it an ideal destination to invest in property, due to its mild winters and hot summers, allowing investors to maximise on tourist rent.
Property purchases, foreign demand and rental prices are skyrocketing in Valencia, with sales going up by approximately 16.7% year-on-year according to Halo Financial. Valencia is a popular choice for tourists who desire the sought-after Mediterranean lifestyle, whilst having a city feel.
Valencia is Spain’s third city and has, until recently, been an underrated jewel on the Mediterranean coast. With its gorgeous gardens, white and terracotta buildings, and long beach that offers miles of sea and sand, purchasing property in Valencia is a great investment for those looking for a cheaper alternative to Madrid and Barcelona.
Benidorm is one of the most visited resorts in the Costa Blanca region and is often referred to as the entertainment capital of Spain. It is known for its modern skyscrapers, which, combined with the panorama of the Mediterranean Sea, create an extraordinary scenery.
Benidorm guarantees sensational attractions all year round, with tourists often visiting the city for sandy beaches, crystal clear sea and local entertainment.
Due to its large number of holidaymakers, Benidorm is a very promising place to invest should you be purchasing for tourist rentand can become a source of high earnings. It has attractive offerings for all types of investors, whether you are working with a small budget, or focused on making a prestigious investment.
The city of Torrevieja is a charming location for an investment by the sea. It offers a wide range of beautiful beaches and is popular with tourists, especially because of its National Park with salty lakes and pink flamingos.
The significant lower purchase price and maintenance costs when owning a property in Torrevieja has convinced many British people to invest in its real estate.
The rich choice of properties in the area means it is easy to find a property perfectly suited to your needs and expectations, with most properties located in close proximity to the beach.
Famed for its sandy beaches lined by a promenade full of bars and restaurants, as well as having a rich history with architecture dating back to Roman times, Calpe offers a wealth of opportunities for those looking to invest.
Charming, laid-back, and full of entertainment, Calpe is located in the north of the Costa Blanca, and is a very popular family tourist destination. Tourists seem to love it so much that, according to current statistics, foreign residents make up almost half of its population.
The city is an ideal place for family fun, although it does not have that typical resort atmosphere that can put some investors off. Whether you are investing to tourist rent, or are just looking for a family holiday home to enjoy, Calpe is a great place to purchase a property.
There is no shortage of enticing options for purchasing property on the Spanish coast. Deciding on the best place to invest in property in Spain should a be a choice driven by your budget and reasons for investment, as this will be a huge factor in determining where is the best place for you. No matter where you pick, it will definitely be an investment you won’t regret.