Buying property in Costa Blanca

Who buys property on the Costa Blanca

A wide range of people buy property on the Costa Blanca, from retirees looking for a warm and sunny place to spend their golden years to families seeking a second home or holiday rental investment. Many international buyers come from countries such as the UK, Germany, Belgium, and the Netherlands, attracted by the region's warm climate, stunning beaches, and relaxed way of life. In recent years, there has also been an increase in buyers from countries outside of Europe, such as Russia, China, and the Middle East. Additionally, many Spanish nationals also choose to invest in property on the Costa Blanca. Overall, the diverse range of people who buy property in the region is a testament to its broad appeal.

The prospect of investing in real estate on the Costa Blanca

Investing in real estate on the Costa Blanca can be a lucrative opportunity for many reasons. Here are some potential advantages:

1. High demand: The region's popularity as a holiday destination means that there is always a high demand for rental properties, making it an attractive option for investors looking for a source of rental income.

2. Strong potential for capital appreciation: Property values on the Costa Blanca have historically increased at a steady pace, providing investors with the opportunity to earn a return on their investment through capital appreciation.

3. Affordable prices: Compared to other popular European holiday destinations, property prices on the Costa Blanca are relatively affordable, allowing investors to purchase a property without breaking the bank.

4. Quality of life: The Costa Blanca offers a high quality of life, with its sunny climate, stunning beaches, and relaxed lifestyle attracting many retirees and families seeking a second home or holiday rental investment.

However, it is important to note that like any investment, there are also potential risks and downsides to investing in real estate on the Costa Blanca, such as fluctuating market conditions and additional costs associated with owning and maintaining a property. It is important to conduct thorough research and consult with experienced professionals before making any investment decisions.

How to buy a property step by step

Here are the steps to consider when buying a property on the Costa Blanca:

1. Determine your budget: Consider your financial situation and determine how much you can afford to spend on a property. Take into account additional costs such as taxes, legal fees, and property management fees.

2. Research the local property market: Gain a better understanding of the local property market, including property prices, property types, and areas of interest.

3. Hire a reputable lawyer: It is important to hire a reputable lawyer who can guide you through the legal requirements and paperwork associated with purchasing a property in Spain. They can also advise you on any potential risks or issues.

4. Find a reputable real estate agent: Working with a reputable real estate agent who has a good knowledge of the local market can help you find the right property for your needs and budget.

5. Choose the right property: Take the time to view several properties and choose one that meets your criteria in terms of location, size, and price.

6. Understand financing options: If you are considering financing your property purchase, research the different financing options available and understand the requirements for obtaining a mortgage in Spain.

7. Make an offer: Once you have found a property you like, make an offer to the seller through your real estate agent.

8. Conduct a thorough inspection: Before finalizing the deal, make sure to conduct a thorough inspection of the property to ensure that there are no hidden issues or problems.

9. Finalize the deal: Once all the necessary paperwork and inspections are complete, you can finalize the deal and transfer ownership of the property.

10. Maintain and manage the property: If you plan on using the property as a rental investment, it is important to maintain and manage the property effectively to ensure that it remains a profitable investment over time. Consider hiring a reputable property management company to assist with this.

Legal requirements for foreign buyers

Foreign buyers who wish to purchase a property in Costa Blanca must comply with certain legal requirements. Here are some of the most important:

1. Obtain a Foreigner Identification Number (NIE): All foreign buyers must obtain a NIE from the Spanish government, which is required for any financial transactions, including purchasing a property.

2. Sign a reservation contract: Once you have found a property you like, you must sign a reservation contract and pay a deposit. This contract is legally binding and sets out the terms and conditions of the sale.

3. Hire a lawyer: It is recommended that foreign buyers hire a lawyer who is experienced in Spanish property law to guide them through the buying process and ensure that their rights are protected.

4. Obtain a Spanish bank account: You will need a Spanish bank account to pay for the property and associated fees.

5. Pay taxes and fees: Buyers must pay several taxes and fees, including a transfer tax, stamp duty, and notary fees.

6. Register the property: After completing the purchase, the property must be registered in your name with the Spanish Land Registry.

It is important to note that these requirements can vary depending on the specific circumstances of the sale and the nationality of the buyer. It is recommended that foreign buyers seek professional legal advice to ensure that they comply with all relevant legal requirements.

Can a foreigner take out a mortgage

Yes, a foreigner can take out a mortgage to purchase a property in Costa Blanca, although the requirements and conditions may vary depending on the lender and the buyer's nationality and financial situation. Some of the general requirements to obtain a mortgage in Spain include:

1. A stable source of income: The lender will typically require proof of a stable source of income, such as employment or rental income.

2. A good credit history: A good credit score and history are typically required to obtain a mortgage.

3. A deposit: Buyers will usually be required to make a deposit of at least 20% of the property's value.

4. Adequate documentation: Foreign buyers may be required to provide additional documentation, such as proof of income and identity, as well as any relevant documents from their home country.

5. A Spanish bank account: Buyers will typically need to have a Spanish bank account to pay the mortgage and associated fees.

It is important to note that mortgage rates and conditions can vary significantly between lenders, and it is recommended that foreign buyers consult with a reputable mortgage broker or financial advisor to explore their options and find the best deal for their needs.

Where to buy property in the costa blanca?

Moraira

Real estate prices in Moraira can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Moraira ranges from €400,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €200,000 to €400,000.

Moraira is located on the Mediterranean coast, surrounded by hills and vineyards. The town is known for its stunning beaches and crystal-clear waters, making it a popular destination for swimming, snorkeling, and water sports. Moraira has a charming old town with traditional Spanish architecture, narrow streets, and a range of shops and restaurants.

In addition to the beaches and old town, Moraira is home to several other attractions, including a market held every Friday, a marina with over 620 berths, and several festivals throughout the year, such as the Moros y Cristianos festival and the Moors and Christians festival.

Pros of living in Moraira include its stunning natural scenery, relaxed and peaceful lifestyle, and warm climate. The town has a strong sense of community and is safe and secure. The town is also well-connected, with good transport links to other parts of the region. Cons may include the high cost of living in certain areas and the fact that the town can become crowded with tourists during the peak holiday season.

Calpe

Real estate prices in Calpe can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Calpe ranges from €300,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €150,000 to €400,000.

Calpe is located on the Mediterranean coast and is known for its long sandy beaches and crystal-clear waters, as well as its impressive Peñón de Ifach rock formation. The town has a lively atmosphere and is home to a range of shops, restaurants, and entertainment options. Calpe also has a fishing port and marina, where visitors can take a boat tour or sample fresh seafood.

In addition to the beaches and Peñón de Ifach, Calpe is home to several other attractions, including the ancient Roman ruins of Baños de la Reina, the old town with its narrow streets and traditional architecture, and the lively fish market held every afternoon.

Pros of living in Calpe include its stunning natural scenery, lively atmosphere, and warm climate. The town has a good range of amenities and is well-connected, with easy access to other parts of the region. The town is also home to a large expat community, which can provide support and social opportunities. Cons may include the high cost of living in certain areas and the fact that the town can become crowded with tourists during the peak holiday season.

Althea

Real estate prices in Altea can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Altea ranges from €400,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €200,000 to €500,000.

Altea is located on the Mediterranean coast and is known for its traditional Spanish architecture, white-washed buildings, and narrow streets. The town is surrounded by hills and offers stunning views of the sea. Altea has a range of shops, restaurants, and entertainment options, and is known for its art and culture scene.

In addition to the old town and stunning natural scenery, Altea is home to several other attractions, including the Church of Nuestra Señora del Consuelo, the Promenade, and the marina, where visitors can take a boat tour or enjoy water sports.

Pros of living in Altea include its stunning natural scenery, traditional Spanish atmosphere, and warm climate. The town has a good range of amenities and is well-connected, with good transport links to other parts of the region. The town also has a strong sense of community and is safe and secure. Cons may include the high cost of living in certain areas and the fact that the town can become crowded with tourists during the peak holiday season.

Denia

Real estate prices in Denia can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Denia ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €120,000 to €400,000.

Denia is located on the Mediterranean coast and is known for its long sandy beaches, crystal-clear waters, and stunning mountain scenery. The town has a rich history and is home to several historic sites, such as the Denia Castle and Archaeological Museum. Denia also has a bustling marina and fishing port, where visitors can sample fresh seafood.

In addition to the beaches and historic sites, Denia is home to several other attractions, including the Montgó Natural Park, the town's vibrant street markets, and the many festivals and cultural events held throughout the year.

Pros and Cons for Living: Pros of living in Denia include its stunning natural scenery, rich history and culture, and warm climate. The town has a good range of amenities and is well-connected, with good transport links to other parts of the region. Denia also has a large expat community, which can provide support and social opportunities. Cons may include the high cost of living in certain areas and the fact that the town can become crowded with tourists during the peak holiday season.

Javea

Real estate prices in Javea can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Javea ranges from €300,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €150,000 to €400,000.

Javea is located on the Mediterranean coast and is known for its stunning natural scenery, including its long sandy beaches, crystal-clear waters, and rugged cliffs. The town has a charming old town with traditional Spanish architecture, narrow streets, and a range of shops and restaurants. Javea also offers a range of outdoor activities, including hiking, cycling, and water sports.

In addition to the beaches and old town, Javea is home to several other attractions, including the Arenal Beach, the Montgó Natural Park, and the Cabo de la Nao lighthouse.

Pros of living in Javea include its stunning natural scenery, relaxed and peaceful lifestyle, and warm climate. The town has a strong sense of community and is safe and secure. The town is also well-connected, with good transport links to other parts of the region. Cons may include the high cost of living in certain areas and the fact that the town can become crowded with tourists during the peak holiday season.

Teulada

Real estate prices in Teulada can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Teulada ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €120,000 to €400,000.

Teulada is located inland, surrounded by hills and vineyards, and is known for its traditional Spanish architecture and relaxed lifestyle. The town is a popular destination for those looking for a quieter and more peaceful retreat away from the hustle and bustle of the coastal towns.

In addition to its traditional architecture, Teulada is home to several other attractions, including the Castle of Moraira, the Auditorium of Teulada, and the Wine Museum.

Pros of living in Teulada include its peaceful and relaxed lifestyle, stunning natural scenery, and warm climate. The town is well-connected, with good transport links to other parts of the region. The town is also less crowded and touristy compared to the coastal towns, which may appeal to some buyers. Cons may include the fact that the town is more inland and further from the coast, and may not offer as many amenities and entertainment options as the coastal towns.

Orba

Real estate prices in Orba can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Orba ranges from €200,000 to €500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Orba is located inland, surrounded by mountains and valleys, and is known for its traditional Spanish architecture and relaxed lifestyle. The town is a popular destination for those looking for a quieter and more peaceful retreat away from the hustle and bustle of the coastal towns.

In addition to its traditional architecture, Orba is home to several other attractions, including the Orba Valley, the Castle of Orba, and the Fonts de l'Algar waterfalls.

Pros of living in Orba include its peaceful and relaxed lifestyle, stunning natural scenery, and warm climate. The town is well-connected, with good transport links to other parts of the region. The town is also less crowded and touristy compared to the coastal towns, which may appeal to some buyers. Cons may include the fact that the town is more inland and further from the coast, and may not offer as many amenities and entertainment options as the coastal towns.

Benissa

Real estate prices in Benissa can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Benissa ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €120,000 to €400,000.

Benissa is located inland, surrounded by hills and vineyards, and is known for its traditional Spanish architecture and relaxed lifestyle. The town has a historic old town with narrow streets, traditional buildings, and a range of shops and restaurants. Benissa also offers a range of outdoor activities, including hiking and cycling.

In addition to the old town, Benissa is home to several other attractions, including the beaches of La Fustera and Cala Pinets, the Benissa Coast Ecological Walk, and the Bernia Mountain Range.

Pros of living in Benissa include its peaceful and relaxed lifestyle, stunning natural scenery, and warm climate. The town is well-connected, with good transport links to other parts of the region. The town is also less crowded and touristy compared to the coastal towns, which may appeal to some buyers. Cons may include the fact that the town is more inland and further from the coast, and may not offer as many amenities and entertainment options as the coastal towns.

Gata de horgos

Real estate prices in Gata de Gorgos can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Gata de Gorgos ranges from €200,000 to €500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Gata de Gorgos is situated inland and is surrounded by beautiful natural scenery, including mountains and forests. The town has a traditional Spanish atmosphere, with narrow streets, whitewashed buildings, and a range of local shops and restaurants.

In addition to its traditional basket-making industry, Gata de Gorgos is home to several other attractions, including the Museum of Ethnology and the Archaeological Museum. The nearby Montgó Natural Park offers opportunities for hiking and other outdoor activities.

Pros of living in Gata de Gorgos include its peaceful and traditional lifestyle, stunning natural scenery, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town is located inland and may not offer as many amenities and entertainment options as the coastal towns.

Torrevieja

Real estate prices in Torrevieja can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Torrevieja ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €400,000.

Torrevieja is located on the Mediterranean coast and is known for its sandy beaches, promenade, and lively atmosphere. The town has a large marina and fishing port, and a range of shops, restaurants, and entertainment options. Torrevieja is also home to a salt lake and nature reserve.

In addition to the beaches and nature reserve, Torrevieja is home to several other attractions, including the Torre del Moro lookout tower, the Museum of Sea and Salt, and the Habaneras shopping center.

Pros of living in Torrevieja include its lively atmosphere, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Santa pola

Real estate prices in Santa Pola can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Santa Pola ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €400,000.

Santa Pola is located on the Mediterranean coast and is known for its fishing port and marina, as well as its range of beaches and natural reserves. The town has a range of shops, restaurants, and entertainment options, and is popular among both tourists and locals.

In addition to the beaches and marina, Santa Pola is home to several other attractions, including the Castle of Santa Pola, the Santa Pola Saltpans Nature Reserve, and the Municipal Aquarium.

Pros of living in Santa Pola include its coastal lifestyle, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Guadamar

Real estate prices in Guardamar del Segura can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Guardamar del Segura ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €400,000.

Guardamar del Segura is located on the Mediterranean coast and is known for its sandy beaches and pine forest nature reserve. The town has a range of shops, restaurants, and entertainment options, and is popular among both tourists and locals.

In addition to the beaches and nature reserve, Guardamar del Segura is home to several other attractions, including the Archaeological Museum, the Castle of Guardamar, and the Alfonso XIII Park.

Pros of living in Guardamar del Segura include its coastal lifestyle, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Playa flamenca

Real estate prices in Playa Flamenca can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Playa Flamenca ranges from €250,000 to €750,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Playa Flamenca is located on the Mediterranean coast and is known for its sandy beaches, golf courses, and shopping centers. The town has a range of shops, restaurants, and entertainment options, and is popular among both tourists and locals.

In addition to the beaches and golf courses, Playa Flamenca is home to several other attractions, including the Zenia Boulevard shopping center, the Punta Prima Beach, and the Cala Mosca Beach.

Pros of living in Playa Flamenca include its coastal lifestyle, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Villamartin

Real estate prices in Villamartin can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Villamartin ranges from €200,000 to €500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Villamartin is located inland and is surrounded by golf courses and residential developments. The town has a traditional Spanish atmosphere, with narrow streets, whitewashed buildings, and a range of local shops and restaurants.

In addition to the golf courses, Villamartin is home to several other attractions, including the Villamartin Plaza and the La Zenia Boulevard shopping center. The town is also a short drive from the beaches of the Orihuela Costa.

Pros of living in Villamartin include its peaceful and traditional lifestyle, proximity to golf courses and shopping centers, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town is located inland and may not offer as many amenities and entertainment options as the coastal towns.

Oriela

Real estate prices in Orihuela can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Orihuela ranges from €250,000 to €750,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Orihuela is located inland and is known for its historic architecture, museums, and cultural events. The town has a range of local shops, restaurants, and cafes, and is popular among both tourists and locals.

In addition to its historic center, Orihuela is home to several other attractions, including the Cathedral of Orihuela, the Palace of Rubalcava, and the Santo Domingo Museum.

Pros of living in Orihuela include its historic atmosphere, range of cultural events and attractions, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town is located inland and may not offer as many amenities and entertainment options as the coastal towns.

Pina de campoverde

Real estate prices in Pinar de Campoverde can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Pinar de Campoverde ranges from €200,000 to €500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Pinar de Campoverde is located inland and is surrounded by beautiful natural scenery, including pine forests and natural reserves. The town has a range of local shops, restaurants, and cafes, and is popular among both tourists and locals.

In addition to its natural surroundings, Pinar de Campoverde is home to several other attractions, including the Rio Seco Nature Reserve and the Lo Monte natural park.

Pros of living in Pinar de Campoverde include its peaceful and natural surroundings, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town is located inland and may not offer as many amenities and entertainment options as the coastal towns.

Cabo roig

Real estate prices in Cabo Roig can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Cabo Roig ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €400,000.

Cabo Roig is located on the Mediterranean coast and is known for its sandy beaches, marina, and range of bars and restaurants. The town has a range of shops, supermarkets, and entertainment options, and is popular among both tourists and locals.

In addition to the beaches and marina, Cabo Roig is home to several other attractions, including the Cabo Roig Watchtower, the La Zenia Boulevard shopping center, and the Aquopolis water park.

Pros of living in Cabo Roig include its coastal lifestyle, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Algorfa

Real estate prices in Algorfa can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Algorfa ranges from €200,000 to €500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €250,000.

Algorfa is located inland and is surrounded by beautiful natural scenery, including citrus orchards and agricultural land. The town has a range of local shops, restaurants, and cafes, and is popular among both tourists and locals.

In addition to its natural surroundings, Algorfa is home to several other attractions, including the La Finca Golf Resort and the Laguna Salada de la Mata natural park.

Pros of living in Algorfa include its peaceful and natural surroundings, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town is located inland and may not offer as many amenities and entertainment options as the coastal towns.

Campoamor

Real estate prices in Campoamor can vary depending on the property type, location, and size. As of 2021, the average price for a three-bedroom villa in Campoamor ranges from €250,000 to €1,500,000, while a two-bedroom apartment can cost anywhere from €100,000 to €400,000.

Campoamor is located on the Mediterranean coast and is known for its sandy beaches, marina, and range of bars and restaurants. The town has a range of shops, supermarkets, and entertainment options, and is popular among both tourists and locals.

In addition to the beaches and marina, Campoamor is home to several other attractions, including the Campoamor Golf Course, the Cabo Roig Watchtower, and the La Zenia Boulevard shopping center.

Pros of living in Campoamor include its coastal lifestyle, range of amenities and entertainment options, and warm climate. The town is well-connected, with good transport links to other parts of the region. Cons may include the fact that the town can become crowded with tourists during the peak holiday season and that some areas can be noisy or busy.

Property maintenance and management

Property maintenance and management are important aspects of owning a property, especially for those who own properties as an investment. Here's an overview of property management options, the importance of property maintenance, and tips for finding reliable property management companies:

Overview of Property Management Options: Property management can encompass a wide range of services, from marketing and advertising a property, to tenant screening, rent collection, property maintenance, and more. Property owners can choose to manage their properties themselves, hire an individual property manager, or contract with a property management company that provides a range of services.

Importance of Property Maintenance: Property maintenance is crucial for protecting the investment and ensuring the safety and comfort of tenants. Regular property maintenance can help to identify and address small issues before they become bigger and more expensive to fix. It can also help to keep tenants happy and increase the likelihood of tenant retention.

Tips for Finding Reliable Property Management Companies:

• Look for companies with a good reputation and positive reviews from past clients.
• Check if the company is licensed and insured.
• Inquire about the services offered and the fees charged.
• Ask for references and follow up with them.
• Consider the company's experience and expertise in managing properties similar to yours.
• Assess the company's responsiveness and communication skills to ensure they will be easy to work with.

Overall, property maintenance and management are important aspects of owning a property. Hiring a reliable property management company can help property owners to ensure their properties are well-maintained, tenants are happy, and their investments are protected.