The Costa Blanca Is the Preferred Destination Of Foreign Buyers In Spain

The Spanish Mediterranean coast is one of the hottest tourist spots in Europe. Foreigners from all parts of the world, especially inhabitants of Northern Europe, choose this area mainly because of its mild temperature and huge choice of fabulous beaches. However, many visitors do not just consider this area as their holiday destination, but also as a place they would like to make their habitual residence says Maria Suarez from Costa Blanca Magic.

The coastal areas of Spain are of great importance for the Spanish economy due to the large amount of capital generated by tourism and housing sales to both domestic and international customers. Nevertheless, the Mediterranean coast is also divided into different zones. One of the regions with a great tourist interest is the Costa Blanca. This area is located within the province of Alicante, in the autonomous community of Valencia, which offers affordable office space in Spain, which attracts businesses to the area. It consists of around 200 km of beaches from the town of Dénia in the north to Pilar de la Horadada to the South.

The Alicante Province Leads The Way

Alicante tops the list of Spanish provinces with the highest number of properties purchased by foreigners during 2015. In the last quarter of 2015, 3910 properties were purchased by foreign customers. This figure represents a sharp contrast with other less touristic Spanish provinces, such as Zamora, Avila and Palencia, all in Castilla y León, where only 6 houses were sold to foreigners during the same period.

Nevertheless, customers are not only attracted by the coast and the temperature but also for the price. The Costa Blanca is one of the cheapest areas of the entire Spanish Mediterranean coast. The square meter price of Alicante is 1,341 euros which is below the national average which currently stands at 1,458 € /m2. In addition, the difference is obvious when these figures are compared to the most expensive province of Spain, Guipozcua in the Basque Country, where the square meter is worth €3058.

The Popular Costa Blanca

Within the Costa Blanca there are a large amount of cities that attract a great number of foreign residents. Benidorm, Dénia and Jávea are three of the most popular and well-known. Benidorm is the largest of the three and in 2015 had 69,045 inhabitants, of whom 20,377 were foreigners. Nowadays, Benidorm is one of the most famous tourist cities of Spain, and is a favoured place of retreat for elderly people from the more northern European countries.. Dénia is a city whose population has increased dramatically in recent years. In 2000, Dénia had about 20,000 inhabitants, while today, its population is 41,553 inhabitants; withof these being 9146 foreigners. However, the most interesting case is related to the city of Jávea.

Javea is the number one choice

Jávea has 27,681 inhabitants, of which almost 15,000 are foreigners. Immigration is so great that the foreign population has surpassed the Spanish as they represent 53.1% of the total population. This is a clear example of the good reputation of the Costa Blanca and the attraction it has for the international market. The average Javea house price in March 2016 was €235,000 – an increase of 18.7% compared to 2015.

This growing trend of migration looks set to continue to increase over the coming years, at least in the short term. The Costa Blanca will remain one of the most sought after spots by foreign buyers, and most likely the population of immigrants to many of the coasts towns, villages and cities will continue to rise.