News in brief: Costa Blanca North

El Plantío's Next Phase Image: Facebook/El Plantio Golf Resort

El Plantio Resort

EL Plantío Golf Resort in Alicante is making progress with its expansion plans, submitting additional documents for its licensing process. The resort aims to add 147 new apartments, a restaurant, parking, and a large pool to its existing facilities. The Urban Planning Department requested detailed reports on parcel locations, building placements, and flood risks, which El Plantío provided.

Despite support from the General Directorate of Urbanism, the final decision on the license is pending. This delay, ongoing for three years, has frustrated El Plantío, prompting intervention from the Ombudsman due to the slow process. The outcome of the recent documentation submission will determine the next steps, crucial for unlocking a planned €9 million investment and potential job opportunities.

Senior Living

THE development of the former Ona Hotel site in Benidorm into a ‘Senior Living Premium’ complex is in progress, backed by a significant investment from a consortium of leading firms. With a collective financial commitment of around €100 million by 2026, these industry leaders aim to revolutionise Spain’s Senior Living sector, focusing on creating upscale resort-style communities along the Mediterranean coast for individuals aged 55 and above.

Reflecting broader European trends, Spain is witnessing a steady increase in its over-55 population, projected to reach 40 per cent of the total population by 2050 according to the National Statistics Institute (INE). This demographic shift, which currently encompasses 11.5 million individuals in Spain, is driving demand for independent living solutions, with preferences ranging from local residences to coastal retreats.

The inaugural project, planned for Benidorm, promises a wealth of amenities, including landscaped gardens, a spa, a swimming pool, a cinema, physiotherapy services, and aesthetic treatments. Featuring over 90 premium apartments with one or two bedrooms, fully equipped kitchens, spacious living areas, and private terraces, the complex offers an unparalleled standard of living.

A luxury senior living destination Image: Shutterstock/ goodluz

Housing Trends

IN the Province of Alicante, the latest report from IMIE General and Major Markets for May shows that the prices of new and used homes in Spain are seeing a small increase. Over the past few months, prices have been stabilising. The General Index went up by 0.5 per cent from April to May, making the yearly increase 3.3 per cent.

Although the rise in prices has slowed down a bit, homes are still 8 per cent more expensive than they were last year and are just 0.1 per cent below the peak prices seen during the 2008 housing bubble, according to Tinsa’s valuations. The Mediterranean Coast showed moderated but still significant monthly increases of 0.7 per cent.

In the entire València region, home sales in April totalled 50,577 transactions, a 23.8 per cent increase from the previous year. Mortgages on homes also grew by almost 29 per cent, reaching 32,326. According to the April ‘Real Estate Registry Statistics’ from the College of Registrars, total property sales were 99,466, up 21.2 per cent from April 2023.

: House Prices and Mortgages Rise Image: Shutterstock/ Edvard Nalbantjan

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Written by

Catherine McGeer

I am an Irish writer who has been living in Spain for the past twenty years. My writing centers around the Costa Cálida. As a mother I also write about family life on the coast of Spain and every now and then I try to break down the world of Spanish politics!