Will the Costa Blanca become the new Marbella?
With 25% of the real estate offer, the Costa Blanca manages to overcome places like Malaga and Balearic Islands; thus, the region is positioned as a spearhead in the Spanish market of luxury homes. Its recent rise is due to the value for money of the properties: while the cost of high-end homes ranges from 6,700 euros/m2 in the most demanded areas of the country, Costa Blanca lies beneath this figure, despite having equally competitive qualities.
Within the territory of Alicante, prices range from 3,000 euros/m2 in coveted areas, such as Cabo Huerta in Playa de San Juan, to a maximum of 4,000 euros/m2 in the city center. With a variety of options in chalets valued between one and six million euros.
The trend of the wealthiest continues to opt for destinations such as Marbella. There the houses usually reach 6,000 euros/m2 in the most exclusive areas. However, choosing properties in Costa Blanca has its advantages. Investing in properties that will increase their value over time is one of the most seductive. It is to be noted that travel to Madrid by train does not exceed 2 hours and the rest of the communications are enhanced by the port of Alicante.
The area finds itself having residents of multiple nationalities who come looking for both the good climate of Spain and the economic opportunities offered by the heritage on the coast. The latest movements are expected from China, where a large number of millionaires seek to move their capitals to less restrictive territories.
The average value of investments in the area is between one and a half million and two million euros, whereas in places like Altea, Jávea or Moraira acquisitions can cost up to three million. Companies that operate in Alicante such as Luxinmo Real State usually offer high standing services to satisfy customers. Due to the qualities and work of these companies, the purchase of properties in Costa Blanca has begun to seriously compete with its rivals.
Other locations such as Ibiza or Mallorca tend to attract celebrities much more for the reputation they have earned. Nevertheless, statistics point to a coming balance since the purchase of properties has increased by 20% and the rent by 80% in the last year. It is estimated that with the new markets, Chinese and Arabic, the chances of Costa Blanca reaching Marbella will increase considerably.