Sun, sea, and estates: Alicante’s luxury market soars

Sun, sea, and estates: Alicante's luxury market soars.

Sun, sea, and estates: Alicante's luxury market soars. Image: Vitaly Shiryaev / Shutterstock.com.

Alicante ranks fifth in Spain’s luxury real estate market, experiencing significant growth alongside the nationwide expansion, which encompasses approximately 41,000 properties.

Among the provinces, Alicante stands out for its particularly robust growth.

The Balearic Islands lead the market with a 24 per cent share, followed closely by Málaga at 22.5 per cent, Madrid at 12 per cent, and Barcelona at 11 per cent.

Alicante secures a 10 per cent share, marking a notable increase in real estate investment in regions previously considered less prominent.

Foreign Capital

The luxury real estate market in Alicante attracts substantial foreign capital, although Spanish buyers also play a significant role.

European investors, notably from Germany, Great Britain, Sweden, Russia, and Switzerland, are prominent contributors.

Additionally, there is a growing trend of purchases by US citizens and, to a lesser extent, Mexican buyers.

Single-family homes, often situated on the beachfront or in mountainous areas, are the most sought-after properties in this market.

Holiday Home

Buyers, typically aged between 40 and 50 and often holding executive positions in large corporations, seek either secondary residences or holiday homes.

In the dynamic Spanish real estate market, the Costa Blanca region stands out for its continuous growth. British developer Taylor Wimpey España reports a remarkable 40 per cent increase in housing reservations in the area compared to 2023.

This surge is driven by clients from 17 different nationalities, underscoring the rising popularity of the Costa Blanca for both residency and investment purposes.

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

Author badge placeholder
Written by

Anna Ellis

Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.

Comments


    Leave a comment

    Your email address will not be published. Required fields are marked *