Costa Blanca is home to 20pc of Spain’s luxury home market, claims portal

Spain's Costa Blanca, in Alicante province

Spain’s Costa Blanca, in Alicante province

Alicante and the Costa Blanca are home to 22% of the 60,000 luxury properties currently on sale in Spain, and the highest price-tag in the region is €80-million, claims the portal LuxuryEstate.com.

Spain has the biggest number of luxury homes for sale in Europe, claims the portal, and is the sixth highest country, along with France and Germany, in terms of average investment value.

According to the portal’s data, the luxury property sector has seen a hike of €3 million in average spending over the last year, 3.4% more than last year.

The average investment in a luxury property on the Costa Blanca runs to around €1.8 million. The highest average price for luxury property in the area is led by Benidorm with €3.1 million, followed by Villajoyosa with €2.7 million and Benissa with €2.5 million. In Elche, Benitatxell and Alfas del Pi, average prices reach €700,000.

As for the type of property in most demand, “villas with an average price of €2.1 million are the most sought-after by buyers in 70% of cases,” says Silvio Pagliani, founder of LuxuryEstate. In considerably less demand are houses with an average price of €1.9 million and apartments for €900,000, with just 10% of buyers looking for this type of property.

The most sought-after characteristics for luxury homes in Spain are new-build properties with views, a pool and close to the beach and if possible, private beaches.

About SPI News Feed

SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

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