Property prices in Costa Blanca are very interesting for foreign buyers, and have gone down a lot after the crisis. But before we look at the real estate prices in the province of Alicante, what is the Costa Blanca?
What is the Costa Blanca?
The Costa Blanca is a Spanish coastline of 200 kilometers in the province of Alicante. While Alicante is the main city in that region, with 330.000 inhabitants, the Costa Blanca also includes:
- Alfas del Pi
- Alicante
- Altea
- Benidorm
- Benissa
- Calpe
- Denia
- El Campello
- Elche
- Gandia
- Guardamar del Segura
- Javea
- Moraira
- Oliva
- Orihuela Costa
- Pilar de la Horadada
- Santa Pola
- Tabarca
- Torrevieja
- Villajoyosa
You can see below how these cities position on the map of the Province of Alicante. Therefore what we call the Costa Blanca is the coastline of the Alicante province.
Record number of tourists in Costa Blanca
A record number of 7.2 million tourists visited the Costa Blanca in 2018. Spanish tourism has grown each year in the last six years, getting to 82 million tourists and 90 billion euros spent.
Proportion of foreign residents in Costa Blanca
Costa Blanca has the highest proportion of foreign residents in Spain: one in five. However, Orihuela Costa is suffering from a decrease in population caused by departures of British citizens (ElPais).
While the population in the province of Alicante grew from 700.000 inhabitants in 1960 to 1.8 million in 2013, it started decreasing in 2013. About 100.000 fewer inhabitants were registered in 2018 compared to 2013.
Property prices in Alicante province
Obviously, the decrease in population has had an impact on the property prices. Indeed, while Spanish real estate prices started going back up in 2015, property prices in Costa Blanca didn’t pick up as much.
According to Tinsa, the average property prices in the Costa Blanca region are now at 1.148 euros per square meter. This is 10% cheaper than the average prices observed in Spain. Furthermore, compared to another coastal region such as Catalonia, prices are significantly cheaper (1.148€/m2 against 1.900€/m2).
However these figures include prices of cities located in the countryside. So, looking at prices on the Coast only, how expensive is it to buy a home?
Real estate prices in the Costa Blanca
The average property prices stand at 1.760€ / m2. However it depends what source of data we use. For example, Trovimap (property portal) mentions 1.732€/m2 while TINSA (valuation company) mentions 1.148€/m2. Another source, Housfy, started building property value pages which compare property prices of:
- Price of properties sold
- Price of properties published on property portals
- Valuation prices
Therefore, let’s look at the real estate prices in some cities, for further precision. From north to south, property prices in Costa del Sol are:
- Dénia 2.000€/m2
- Javea Xabia 2.000€/m2
- Calp – Benidorm 2.000€/m2
- Alicante 1.540€/m2
- Arenals – Santa Paula 1520€/m2
- Torrevieja 1490€/m2
- Orihuela – Torre de la Horadada 2000€/m2
Looking to buy or sell a property in Costa Blanca? Please feel free to contact me , as I invested myself in Spanish properties too. I will be happy to introduce you to the best real estate agents I know in the region.