Costa Blanca - Moraira Property

2007 report

This report was prepared by Engel & Völkers, a real estate agency with offices in many of Spain’s most popular destinations. It is reproduced here with permission. More information on Englel & Völkers

Moraira Costa Blanca Property

This area is considered to be one of the most exclusive of the Costa Blanca and you can get a good feel for the area by driving down to the coast from the town of Teulada. The typically white-washed houses and villas stand out against the backdrop of green countryside, which in parts is covered with pine tree forest, and big blue mass of sea. The coves and beaches are excellent for diving and snorkelling. The town of Moraira has a charming character with its boutiques, narrow winding streets, gourmet restaurants and chic port area.

The Buyer

The main markets in this area are British (80%) with an average spend range of €160,000 –320,000, German (15%) average spend range €80,000-500,000 and then a mix of Spanish, French, East Europeans, Italian etc.. Buyers are generally looking for villas, country houses (fincas) or apartments. They are attracted to the area for its climate, beaches, good infrastructure and facilities and the most requested areas are Moraira, Benissa and Jávea.

Property Values

The Engel & Völkers shop opened in 2004 and has recorded a decrease in property values in that time of approximately 10% for villas and fincas, which range from €400,000-700,000. Only apartments have increased in price of approximately 5% and range from €90,000 – 200,000. The shop reports that this year market activity is increasing mainly because owners are asking more realistic prices than in previous years.

Investor Tips

In the context for the whole of Spain, pricing of property in this area is now stabilising and it is regarded investment here is low risk for long term growth.