Foreigners are sweeping houses in Alicante: the sums that make you gasp are not spared for housing | Business

This result is the highest in the last ten years and significantly exceeds the 15.4% of foreign buyers at the national level.

Why do foreigners choose the province of Alicante? They are attracted by the climate, location, culture and infrastructure, cost of living and real estate prices (more competitive than other areas). It is true that the real estate market in this area is very dynamic. According to the official College of Technical Architecture of Alicante (Coata), in 2023 construction of 8,783 dwellings will begin.

“In addition, Alicante is the fifth Spanish province in terms of gross domestic product (GDP) after Madrid, Barcelona, ​​Valencia and Seville,” says real estate agency Engel & Völkers, which notes that recent years have seen a huge influx of foreigners who have become the influx of primary home buyers. “If in 2022 58 percent of our customers were our citizens, that is, in 2023. this percentage dropped to 46 percent compared to the remaining 54 percent. foreigners,” they note.

By nationality, Belgians and Dutch accounted for 20 percent. companies in Alicante, followed by the Swiss, Germans, Scandinavians and Ukrainians. Britons, Germans and Poles also work in large numbers in Benidorm, which is in the province of Alicante. When it comes to payment, most buyers use their own funds, so they don’t need to use bank financing.

Types of real estate

When it comes to the type of real estate that Engel & Völkers’ foreign clients are most interested in, larger homes over 400 square meters are the most popular in the city center of Alicante. m, in the districts of Cabo Huertas and Vistahermosa. On the other hand, in the city center, as well as in the areas of Campello and Playa de la Almadraba, smaller houses with an area of ​​140 to 180 square meters are in demand. m and have three bedrooms.

In the municipalities of Benidorm, Altea, Calpe and Torrevieja, the interests of buyers are very different. In the first case, the Levante and Poniente beaches are the most sought-after apartments, while the Finestrat area is the most sought-after villas as investment properties.

The most exclusive districts

In the province of Alicante, housing prices have increased in all areas over the past year. In the capital, the most exclusive residential area is Cabo Huertas, where the average price reaches 5,500 euros per square meter.

“Thirty percent of real estate objects sold there exceeded two million euros. Sales above this barrier have also been completed in other areas such as Playa de San Juan, Vistahermosa and Santa Pola,” Engel & Völkers said.

In the districts of Vistahermosa, Campello, Playa Almadabra and Centro, the average price per square meter exceeds 2,000 euros. On the other hand, the cheapest places to buy a house are San Juan Pueblo (1,682 euros/sq m), Santa Pola and La Alfubera (both more than 2,600 euros/sq m).

In Benidorm, prices have risen in all parts of the city. The highest price increase during the year was recorded in Poniente (3.2%), which proves to be the most expensive district, where prices exceed 3,000 euros/sq.m. m.