Despite rising property prices across the Costa Blanca, the municipality of Pego—in the Marina Alta region of Alicante—offers seaside life at a fraction of the cost of nearby hotspots.
Property by the beach without breaking the bank
As property prices climb across Alicante, driven by high demand and a sunny lifestyle that continues to seduce both foreign buyers and Spanish families, Pego stands out as a budget-friendly outlier, according to an article in the Spanish website El Español. Just ten minutes’ drive from the sea, homes in this inland town start at €62,000 for properties ready to move into. With an average property price of €975 per square metre, Pego is dramatically more affordable than the provincial average of €2,424/m² (as of March 2024, according to Idealista).
Coastal hotspots like Moraira now exceed €4,000 per square metre, making Pego an appealing alternative for buyers looking to be near the coast without paying top-tier tourist prices.
A rising market, but still accessible
Though Pego has seen a 17.3% annual increase in property prices, they remain far below the town’s peak in March 2011, when prices averaged €1,520/m². This suggests room for further growth—potentially good news for investors and lifestyle buyers alike.
Nearby inland towns such as Villena offer even cheaper prices (around €700/m²), but lack Pego’s proximity to the beach—a key advantage for those seeking a balance between affordability and Mediterranean living.
Life in Pego: medieval charm and natural beauty
Pego is more than just a cheap postcode. It’s a historic town that retains a distinctly authentic character. Classified as part of the Marina Alta region, it offers cobbled streets with a medieval layout and a slow pace of life that appeals to retirees, nature lovers and remote workers alike.
Culturally, the town has plenty to offer. Architectural highlights include the Parish Church of the Assumption and the delicate Ecce-Homo Chapel. Museums such as the Museu d’Art Contemporani and the Ethnological Museum of Pego give a glimpse into both the town’s contemporary scene and centuries of local tradition.
The real showstopper, however, is nature itself: Pego is bordered by the Marjal de Pego-Oliva Natural Park, a protected wetland area teeming with biodiversity. The park provides an abundance of outdoor activities such as hiking, birdwatching, and cycling, all set against the backdrop of rice fields, natural springs and mountain ridges.
Not just for second homes
While traditionally overlooked in favour of coastal resorts, Pego is increasingly appealing for permanent living. Its combination of affordability, accessibility, and quality of life makes it a smart option—especially at a time when buyers in Spain reportedly need the equivalent of eight years of household income to purchase a typical home.
In short, for those wanting to embrace the Costa Blanca lifestyle without the Costa Blanca price tag, Pego may be Spain’s best-kept coastal secret.
