Tranio’s client experience: buying a second home on the Costa Blanca

Spanish real estate has consistently been in high demand in the past few decades. The interest of both local and foreign buyers are preserved for the number of reasons:

• programs of the Spanish government for obtaining a residence permit by property investment;
• powerful economics of Spain as a member state of the EU and the Schengen Agreement;
• higher return on property investment compared to other European markets;
• comfortable climate and developed tourism industry;
• lower real estate prices compared to the Northern European countries.

Since its launch in 2013, the Spanish Golden Visa program has additionally stimulated the inflow of foreign capital from outside of the European Union. Investors from the United States, China, India, the Middle Eastern countries are commonly interested in the Spanish residence-for-investment, and more recently, the citizens of the United Kingdom have also become common applicants for the Golden visas as an aftermath of Brexit. In addition, Spain remains one of the most popular European countries for buying holiday housing and second homes.

South West Europe: bridging France and Spain

Tranio’s client Marina (name changed for privacy reasons) had been living in the EU for a long time before the moment she contacted us for property search. She had a residence permit and work permit in France. As Marina works remotely, she can choose a second home in many destinations across the globe. In the past, she had experience in running a business in Spain, so Marina was well acquainted with the culture of this country.

The client’s request was to find a residential property on the Mediterranean coast in South West Europe within her budget and personal criteria. For the first, her new housing had to be spacious, well-lighted and located close to the beach. Reviewing the current property offers, selected by Tranio’s experts, the client opted for the Spanish region of Costa Blanca. There was a wide range of large-space apartments which was an important criterion for the client.

Other reasons for choosing Spain were related to the other advantages of the location:

• low cost of property maintenance and household services;
• the possibility of getting a high rental yield for the periods of time when Marina vacates the property;
• a common cultural and historical base of southern France and Spain, which would help the client to quickly adapt to new surroundings;
• a well-developed transport system allowing for comfortable travelling between the two countries.

The work with the client was carried out by Tranio expert Alexandra Borisova, an experienced professional in the field of international property. Alexandra has been working with the markets of Spain and France for more than 4 years and is familiar with all the specific moments of buying property and document management in these two countries in practice. 

At the request of the client, the manager can choose an investment property in order to obtain the greatest rental income or comfortable apartments for personal residence with suitable infrastructure within walking distance. Based on the criteria and budget of the investor, Alexandra recommended in this case to pay attention to the Costa Blanca.

Working with agencies and developers of the Spanish market is as open and clear as possible for both the seller and the customer.

Aleksandra Borisova Tranio’s real estate expert in Spain:

Thus, Marina, after purchasing an apartment in Spain, can continue to work remotely for a French company. The proximity of the Mediterranean regions of France and Spain is characterised by the cultural and economic integration of two territories, which allows you to maintain connections with French business while living in Spain. If desired, the investor can obtain a residence permit in Spain — if there is a valid residence permit or permanent residence in France, obtaining a second residence permit in the Schengen area is not prohibited.

Apartments on Playa de San Juan

The investor participated in the selection of an apartment and before making the last decision, personally visited several apartments with Tranio partners on the Costa Blanca. As a result, Marina’s choice was a two-bedroom apartment with a large terrace in a residential complex with a swimming pool in the area of Playa de San Juan, which is located northeast of Alicante.

The apartment is ready for living from December 2023. The residential complex is equipped with an elevator, storage rooms and 2 parking spaces attached to each apartment. It is convenient to get to the beaches on foot or by car, there is a golf course and all the necessary infrastructure nearby: shops, seafood restaurants, hospitals. The residential complex is characterised by a high energy saving rate. The exterior walls of the buildings, painted in a light shade, reflect excess sunlight, preventing the building from overheating in summer, the terraces are designed so that there is always an opportunity to stay in partial shade during the sunny hours of the hot Spanish summer.

The payment for the apartment was made from a Spanish account that was opened by the investor several years ago. All the paperwork was carried out with the help of Tranio’s partners and active assistance from Alexandra, as an expert leading the transaction.

At the moment, Alicante is one of the most prospective regions of Spain for buying property. This is based on the fact that a large number of new luxury apartment complexes are being built in the region, but prices are still low now.

Aleksandra Borisova Tranio’s real estate expert in Spain:

Alicante is a historical settlement, which is more than 2000 years old. Its settlement is connected with the ancient Phoenician mariners. The city has experienced Greek, Roman and Arab influences, which are preserved in numerous monuments of architecture and art. Now the city has become a major administrative centre on the Costa Blanca, which belongs to the Valencia region, and is one of the fastest growing cities in Spain.

Advantages of choosing Alicante for the purchase of property:

1. The beach season in Alicante is much longer than in northern Spain and southern France. The water warms up better, it is possible to stay outdoors longer than in nearby provinces. The beaches of Alicante get blue flags every year.
2. A territory rich in nature. There are numerous parks, nature reserves and protected natural areas in the Alicante district. There is also a network of cycling routes laid along the sea shores.
3. An international airport daily serving a large number of flights.
4. The small area of the city and the low population allow you to relax after the noise and speed of megalopolises.
5. The developed infrastructure of the city: there are a lot of educational and medical institutions, a high-quality transport system, international banks and shops.

Investor’s plans

The investor signed the final contract in August 2023 and, after the completion of construction in December 2023, Marina received the keys to her apartment. Since the investor already has a French residence permit, at the moment obtaining a Spanish residence permit is not a priority, but it is under consideration by the investor as a prospect in the future. The Tranio team is ready to provide its assistance regardless of how long ago the property was purchased.

Tranio takes care of all the document work and communication with foreign developers and helps investors in purchasing property at all stages.

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