There are three provinces in the Valencian region: Alicante, Valencia and Castellon. The Costa Blanca, on the other hand, is the most popular region for foreign purchasers. In this article, I use the term “Costa Blanca” to refer to the three provinces that make up the region.
Before the virus struck, the Costa Blanca region’s foreign property market was still recovering from the 2008 financial crisis. The Costa Blanca’s foreign sector accounted for 28.8% of all foreign acquisitions in Spain at the end of 2019. In the first half of the year according to Notaries’ figures, 26.3 percent of the market was affected, but as we all know, the market was only allowed to run normally during the first ten weeks of 2020. Then came COVID-19, and in March of the following year, Spain went into lockdown for the first time.
The source of the numbers.
Counts of transactions by nationality, autonomous areas, and prices per square metre are also available from the Notaries. These are released every six months. When do we receive Q1 and Q2? In November of the year in which they’re released, and when do we get Q3 and Q4? Consequently, the whole picture of 2021 will not be available until May 2022. Even so, what we’ve got thus far is encouraging.
In addition, I use data from the Ministry of Development (Ministerio de Fomento) to split down the provinces and municipalities into their respective populations. Foreign purchasers are treated as a single block, although these data help us comprehend Alicante’s supremacy in the region’s housing market. However, they don’t count by nationality.
What the Costa Blanca International Market Blue Flag means to the local economy beaches on the coast of the Costa Blanca Real estate transactions in Spain’s Costa Blanca region account for around 15 percent of all sales in Spain, with a foreign market participation in excess of 30 percent. Although it appears that the proportion of foreign purchasers dropped slightly during the pandemic era, the most recent numbers for 2021 reveal that it was 25% of the whole Costa Blanca market. The Comunidad Valenciana, on the other hand, was home to 24% of all foreign purchasers in Spain.
The three provinces in the region are all quite diverse. Statistics reveal that foreign purchasers differ greatly by province when examined in further depth.
When it comes to international purchasers, Alicante leads the way by a wide margin. In 2021, 67.1 percent of all foreign purchasers in the region were from this province. Over 90% of international purchasers spend their money in the two provinces of Valencia and Castellón, leaving just 8% in the northern province of Castellón for foreign property buyers.
Why the Costa Blanca?
Benidorm and Torrevieja in Alicante province are two of the most densely populated districts on the Costa Blanca, which stretches for 520 kilometres between Catalonia and Andalusia. Unspoiled white sand and rocky coves coexist with some of Spain’s most beautiful sandy beaches here.
Alicante province is often considered to be the best place to live on the Costa Blanca. The cities of Denia, Javea, and Moraira form what is known as the “Golden Triangle.” In addition, Valencia is one of the most attractive and ancient cities in Spain.
There are two large airports in Valencia and Alicante, as well as a brand modern airport at Covera, in the province of Murcia, making it simple to get there. The southern Costa Blanca can easily be reached by this facility.
However, it is undeniable that its cost is a major factor in its appeal. As compared to other parts of the Mediterranean coastline, it is one of the most affordable and competitive places to live.
The Costa Blanca in Javea, Spain
In the first half of 2021, the national average price per square metre in Spain was €1,481. A foreign buyer, on the other hand, spent an average of €1,863. Hence, the 15% of the whole property market that was occupied by foreign purchasers, they also spent more money. There is, however, a wide range in prices depending on where people get their food.
Six of Spain’s most popular regions for foreign buyers are: Andaluca, the Balearic Islands; Catalua; the Canary Islands; Murcia; and the Costa Blanca. At €3,607 per square metre, the Balearics were the most costly location for foreigners to live in, much above the national average of €1,863. After Catalua, the Canary Islands, and Andaluca, the total cost of living in Spain was €2,037 per square metre.
Only the Comunidad Valenciana (€1377 pm2) and Murcia (only €908 pm2) fell below the national average in this respect. Price variations are unavoidable in such a large area with three diverse provinces. While the average price per square metre in Castellón province is now at €1,300, it is roughly twice as much in Alicante province’s top regions of Javea, Denia, and Moraira.
What’s in store for us in the future?
Beaches on the Costa Blanca that have been awarded the Blue Flag
A long-term recovery in the Costa Blanca property market depends on the speed with which foreign travel improves and limitations are lifted. More than half of the region’s international trade is with the United Kingdom, thus the competition between the two countries will be particularly fierce.
The Costa Blanca will undoubtedly continue to be one of the most cheap areas of Mediterranean Spain in the years to come.. Furthermore, the province of Alicante will remain the most popular with foreign purchasers.
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