Properties for Sale in Alicante December 2024

A Brief Introduction to Alicante

Alicante is a charming coastal city located on the southeastern coast of Spain along the Mediterranean Sea. As the capital of the province of Alicante and part of the Valencian Community, the city is a key tourist and commercial hub in the region.

With a population of over 330,000, Alicante offers an attractive mix of history, culture, and modernity. Its Mediterranean climate features over 320 days of sunshine per year, making it a popular destination for tourists and expats seeking warm weather and a laid-back lifestyle.

The city boasts a rich cultural heritage, with historic landmarks such as the Castle of Santa Bárbara, which dates back to the 9th century, and the Basilica of Santa Maria. Alongside these historic sites, Alicante is also known for its beautiful beaches like Postiguet and San Juan, which draw sun-seekers from around the world.

Alicante’s lively marina and promenade, known as Explanada de España, provide a scenic setting for leisurely strolls, outdoor dining, and various events throughout the year. The city also offers a vibrant nightlife scene, with numerous bars, clubs, and restaurants catering to diverse tastes.

In addition to its cultural attractions and leisure activities, Alicante is well-connected to other popular destinations along the Costa Blanca, such as Benidorm and Calpe, as well as the rest of Spain through its airport, train, and bus services. This accessibility makes Alicante an ideal base for both tourists and expats looking to explore the region.

The city and its surrounding regions offer a wide variety of properties for sale, making it an attractive destination for those looking to invest in the Spanish real estate market.

Why Invest in Alicante Property?

TV shows like “A Place in the Sun” and “Sun, Sea and Selling Houses” have gained considerable popularity among British audiences, particularly for those interested in finding their dream property in the Costa Blanca, Spain. These programs tap into the aspirations of many UK residents who wish to own a holiday home, relocate, or retire in a sunny, Mediterranean region like Alicante with a laid-back lifestyle.

There are several reasons why investing in property in Alicante is an excellent decision, here we list a few:

Affordable Prices

Compared to other popular Spanish destinations such as Barcelona and Madrid, properties for sale in Alicante are more affordable, making it an attractive option for both local and foreign investors.

Favourable Climate

Alicante boasts a Mediterranean climate with mild winters and warm, sunny summers, which is ideal for enjoying outdoor activities and the region’s beautiful beaches.

Strong Rental Market

Thanks to its thriving tourism industry and large expat community, Alicante has a strong rental market, providing property owners with an opportunity to generate income through short or long-term rentals.

Types of Properties Available in Alicante

Alicante offers a diverse range of properties for sale to suit various preferences and budgets:

Apartments

Apartments are the most common type of property for sale in Alicante, ranging from compact studios to spacious penthouses. They are ideal for those seeking a low-maintenance, urban lifestyle.

Villas

Villas provide more privacy and space than apartments, often featuring private gardens, swimming pools, and outdoor terraces. They are perfect for families and those looking for a more luxurious lifestyle.

Townhouses

Townhouses in Alicante typically offer a mix of urban convenience and suburban charm. They often come with small gardens and communal amenities such as swimming pools and children’s playgrounds.

Country Homes

For those who prefer a more rural setting, country homes provide an opportunity to enjoy the natural beauty of Alicante’s countryside while still being within easy reach of the city’s amenities.

Top Areas to Buy Property in Alicante

There are several areas in and around Alicante that are popular among property buyers:

Altea

This picturesque coastal town of Altea is known for its narrow cobblestone streets, whitewashed buildings, and stunning sea views. Properties for sale in Altea range from charming townhouses to luxurious villas with many selling in the millions in the Altea Hills region!

El Campello

El Campello is a popular destination for families, boasting beautiful beaches, excellent schools, and a range of leisure activities. The area offers a mix of apartments, townhouses, and villas.

Orihuela Costa

Located to the south of Alicante, Orihuela Costa is a series of coastal towns offering a range of properties, including apartments, townhouses, and villas. With its beautiful beaches, golf courses, and shopping centers, this area is ideal for both holidaymakers and permanent residents.

Some of the more popular towns in Orihuela Costa are La Zenia with its beautiful beaches, amazing shopping center and golf courses. Another great place to live is Villamartin which is also hugely popular with the Brits and offers some great properties for sale that are very reasonably priced.

Cabo Roig is just down the road from Villamartin and is also popular with British expats looking to enjoy their golf, bars, restaurants and beaches with a nice relaxed way of life.

Another place worth a mention that offers many great properties for sale is the inland town of Benijofar which is popular with golfers and residents who enjoy a relaxed way of living in a quiet, Spanish town.

Javea

Nestled between the Montgó Mountain and the Mediterranean Sea, Javea is a charming town that attracts both locals and expats. With its stunning beaches, historic old town, and wide range of properties, it’s an excellent location to invest in Alicante real estate.

Tips for Buying Property in Alicante

To ensure a smooth and successful property purchase in Alicante, consider some of the following tips:

Hire a Local Real Estate Agent

A local real estate agent like Casas Manuel will have extensive knowledge of the Alicante property market and can help you find the perfect property that meets your needs and budget.

Understand the Buying Process

Familiarize yourself with the Spanish property buying process, which includes securing an NIE number (foreigner identification number), opening a Spanish bank account, and working with a Spanish notary.

Consider Maintenance Costs

When budgeting for your property purchase, don’t forget to factor in ongoing maintenance costs, such as community fees, taxes, and insurance. These typical costs include things like:

1. Community fees (Comunidad de Propietarios): These fees cover the maintenance and upkeep of common areas in a community, such as gardens, swimming pools, and elevators. The cost varies based on the size of the property, the number of shared facilities, and the level of service provided. On average, community fees can range from €50 to €300 per month.
2. Property tax (Impuesto sobre Bienes Inmuebles, or IBI): This is an annual tax based on the cadastral value of the property, and the rates vary depending on the municipality. On average, IBI rates range from 0.4% to 1.1% of the cadastral value.
3. Wealth tax (Impuesto sobre el Patrimonio): This tax applies to residents and non-residents who own property in Spain with a value exceeding a certain threshold (around €700,000 for residents and €2,000,000 for non-residents). The rates range from 0.2% to 2.5% of the property value, depending on the region and the individual’s net worth.
4. Income tax (Impuesto sobre la Renta de las Personas Físicas, or IRPF for residents and Impuesto sobre la Renta de no Residentes, or IRNR for non-residents): Property owners who rent out their property need to pay income tax on the rental income. Residents are taxed based on their overall income, while non-residents pay a flat rate of 19% for EU/EEA citizens and 24% for others.
5. Utility bills: Property owners are responsible for paying utility bills, including water, electricity, and gas. The cost will vary depending on usage and the size of the property, but you can expect to pay between €50 and €200 per month.
6. Home insurance: While not mandatory, it is recommended to have home insurance to cover potential damages to your property. The cost of insurance varies depending on the coverage and property value, but it generally ranges from €150 to €400 per year.
7. Property management and maintenance: If you do not reside in Spain and own a property there, you might want to consider hiring a property management company to take care of your property. The fees for property management services can range from 10% to 20% of the rental income or a flat monthly fee.

Please note that these costs are only estimates and may vary depending on various factors. It is always best to consult with a local real estate agent or a property lawyer to get accurate and up-to-date information on costs associated with owning a property in Alicante.

Conclusion on buying a property in Alicante

Alicante offers a diverse range of properties in a beautiful coastal setting, making it an attractive option for those looking to invest in Spanish real estate. By researching the local market, working with a local real estate agent, and understanding the buying process, you’ll be well on your way to finding your dream property in Alicante.

FAQs

1. What is the average property price in Alicante? The average property price in Alicante varies depending on the area and type of property. Generally, apartments are more affordable than villas and townhouses. In 2022, the average property price in Alicante ranged between €1,200 to €2,000 per square meter, depending on the location and the type of property. Apartments and townhouses in the city center or near the beach were generally more expensive, while properties in the outskirts or in suburban areas were more affordable.
2. Can foreigners buy property in Alicante? Yes, foreigners can buy property in Alicante although there are some restrictions. Brexit has brought about some changes in the rules and regulations for UK citizens who wish to buy property in Spain. While UK citizens can still purchase property in Spain, they now face some restrictions and additional requirements as a result of the UK leaving the EU. Here are some key points to consider:
   1. Visa requirements: UK citizens are now considered non-EU citizens, which means they need a visa if they plan to stay in Spain for more than 90 days in any 180-day period. If you plan to live in Spain permanently or for an extended period, you may need to apply for a long-stay visa, such as the Non-Lucrative Visa or the Golden Visa (for property investments over €500,000).
   2. Residency and healthcare: UK citizens who were legally resident in Spain before January 1, 2021, are protected under the Withdrawal Agreement and can retain their rights to healthcare, pensions, and other benefits. New residents post-Brexit will have to meet the requirements for non-EU citizens, which may include proving sufficient income, having comprehensive health insurance, and meeting other criteria.
   3. Property taxes: As non-EU citizens, UK buyers may face higher taxes on property purchases, such as a higher rate of capital gains tax when selling the property. Additionally, UK citizens may also be subject to a higher rate of income tax on rental income, with a flat rate of 24% compared to the 19% rate for EU/EEA citizens.
   4. Exchange rates and currency fluctuations: The value of the British Pound (GBP) against the Euro (EUR) can impact the cost of purchasing property in Spain. Currency fluctuations may result in higher or lower costs for UK citizens when buying or selling property in Spain, depending on the exchange rate at the time of the transaction.
   5. Banking and mortgages: Post-Brexit, UK citizens may face more stringent requirements and higher interest rates when applying for a mortgage in Spain. It is important to consult with local banks or mortgage brokers to understand the specific requirements and options available.

   Despite these changes, UK citizens can still buy property in Spain, but they must navigate additional requirements and restrictions. It is recommended to consult with a local property lawyer or real estate agent who is familiar with the regulations and can guide you through the process.

3. Is it possible to obtain a mortgage in Spain as a foreigner? Yes, many Spanish banks offer mortgages to foreigners looking to purchase property in Spain. However, it’s essential to research the best mortgage options and consult with a financial advisor.
4. What taxes and fees are associated with buying a property in Alicante? Property buyers in Alicante will need to pay several taxes and fees, including property transfer tax, notary fees, land registry fees, and legal fees. The exact amount will vary depending on the property’s value and other factors.
5. Are there any residency benefits when buying property in Spain? Spain offers a “Golden Visa” program, granting residency to non-EU investors who purchase a property worth €500,000 or more. This residency permit allows investors and their family members to live, work, and travel within the Schengen Area.