Figures from Spain’s Land Registry for Q1 2018 show that overseas buyers made up 26% of the market across the Valencian community, which includes the Costa Blanca. The size of this figure indicates just how important the overseas market is for the region.
Valencia Market Report
The number of properties purchased by foreigners totalled 5,236, while domestic buyers bought 14,640 properties. However, when you break the figures down by province within the Valencia community a more detailed picture emerges. For example, 80% of foreign purchases were made in Alicante province, which takes in the North and South Costa Blanca.
Mark Stücklin in Spanish Property Insight wonders why so many overseas buyers head straight for Alicante province and overlook other areas, such as the Costa del Azahar in Castellón province. The Costa del Azahar, or Orange Blossom Coast has wonderful beaches and is more like “the real Spain” as Stücklin points out. So what is the big attraction of the Costa Blanca? He says it is probably due to the “powerful sales infrastructure built up over the last 50 years” in Alicante that knows just how to target overseas investors.
He also explains that Alicante has a reputation as the ‘go-to’ place for a cheap Spanish villa, and as you might expect given that information, foreign buyers coming to the Costa Blanca “are buying a much larger proportion of villas than buyers in the other provinces.”
Of course, you will pay more for a property in Alicante province than in Castellón; double in fact.
We have properties and plots for sale in the Costa del Azahar area of Valencia province. They range from the rustic to the new build and at prices that will astound you. You may not have heard much about this part of Spain, but it has a lot to offer the foreign buyer – take a look and see!