Property for sale in Alicante

Alicante is the eponymous city and province of Spain, located on the sunny seashore. The climate here is warm, without sudden temperature changes. The area surrounded by mountains is not blown by winds, and a light breeze comes from the sea. 320 sunny days, with an average annual temperature of 18 °C.

It is believed that housing in Alicante is much cheaper than in other regions of the country. The province is most beneficial for tourism and for earning money on rent, both daily and on a long-term basis.

The cost of real estate in the province of Alicante

The cost of housing varies depending on the city, district and many other factors. The table shows the minimum prices for different types of housing in the province of Alicante.

In addition to the types provided, you can find villas, cottages or chalets that cost up to 12 000 000 €.

The cost of real estate in the city of Alicante

Real estate in the central areas of Alicante starts from 1 966 € per square meter. Outside the center, you can find apartments priced at 1 647 € per square meter.

There are 12 districts in total in the city, but not some of them are worth paying attention to:

Centro is the main area that deserves the buyer's attention. It is here that there is access to the central beach of the city, and the cost of housing starts from 150 000 € per apartment. There are also many historical attractions in the area.

Pla del Bon Repos-La Goleta-San Anton – the cost of housing by the sea is 150 000 € per apartment. On the second line, the cost starts at 110 000 €. If you choose areas further away, in a block building, then the price can be much lower.

Campoamor-Carolinas-Altozanto is an area with typical buildings and affordable housing. You can find apartment options for 60 000 € or 70 000 €. Zones with new buildings are more expensive – from 100 000 €.

San-Blas-Pau is an area near the Centro, with housing from 100 000 €. Urbanized area, with lots of parks and green spaces.

Real estate market prospects

In 2022, real estate agents note the increased interest of investors in real estate in Alicante. The most effective strategy is renting out housing for future rent. The expected profitability is 10%. In the last few years, the demand for rent in Alicante has grown higher than in the whole of Spain. At the moment, 25% of all housing in the province is rented.

Mortgage rates and the total cost of housing are expected to increase in the next few years.

In 2019, according to statistics, 51% of home purchases in Alicante were made by foreigners. The main buyers are citizens of Sweden, Great Britain, Belgium, France and Germany.

Who is buying property in Alicante

Alicante is considered the most Russian-speaking province of Spain, suitable for easy emigration. The main city for Russian tourists is Torrevieja. People often move there for permanent residence, transporting their children there. Since the cities are located on the coast of the sea, renting apartments is also in great demand.

Most often, housing is purchased for summer holidays on the coast. When renting out the purchased housing, the owner can earn from 3% to 7% of the cost of housing per year.

Housing maintenance

With an average cost of housing maintenance, it takes 1.8-2.5 thousand. € per year.

Utilities

The cost of basic utilities is on average 129.94 €, but they can vary greatly, since each city in the province can set its own prices for utilities.

In addition to paying for utilities themselves, you also need to pay for connection to electricity and water supply systems. This is about 60 € per year. The waste on water is small. The gas is calculated according to the formula 0.09 €/kWh. This can become the main point in expenses, since heating in Spain is mainly gas, as well as stoves for cooking. Therefore, many residents use purchased gas cylinders.

The average cost of wired Internet is 30.99 € per month.

Taxes

When buying a house, 10% of taxes are deducted to the royal treasury. When buying a second home from 6% to 10%. The annual tax on real estate ownership is 0.4%-1.1%.

In addition to utilities and taxes, you will have to pay for the services of a management company. The cost is from 200 € to 1000 € per year. If there is a swimming pool or a garden, the services of the management company become more expensive, and can reach up to 2000 €.

When renting out housing, the landlord is obliged to pay 24% tax on income for a rented apartment. Non-residents pay a fortune tax of 0.2% to 2.5%.

Insurance

When applying for a mortgage, banks often request housing insurance, and it costs 350 € per year. Insured events are considered cataclysms, disruptions in the operation of heating systems and water supply systems. Also included in the insurance are cases of vandalism and theft.

Also, owners of private houses use the services of gardeners, pool cleaners, cleaners, etc. This will be a separate item in the embezzlement of housing maintenance.

How much does it cost to live in Alicante

The average cost of living in the province is 2 100 € for a family of 4 people. One person spends 599.58 € excluding rent.

For convenience, below is a list with average prices for the main items of monthly expenses. If desired, you can find cheaper options on promotions and discounts, also during high demand (for example, the holiday season) prices will be higher.

Food

• The average check in an inexpensive restaurant will come out at 12.90 €, and drinking water in bottles of 0.33 liters is 0.82 €;
• The most expensive product on the market is cheese and meat. Beef starts from 10.11 € per kg, and cheese from 10 €.

Transport

• Transport tickets cost an average of 1.45 €, a monthly subscription can be purchased for 30 €;
• The cost of a taxi is from 4.00 € at the usual rate and 1.22 € for each kilometer, but it may vary depending on the company and traffic congestion. Waiting for a taxi for an hour 21.50 €;
• Petrol price 1.63 €;
• Cars in local markets cost an average of 22 000 €.

Child care

• Monthly kindergarten expense per child – 350 €;
• Primary school annually – 6 489 €.

Sports and Recreation

• Monthly subscription to the fitness club for one adult – 32.14 €;
• Cinema ticket – 7.72 €.

Clothing in chain stores (Levies, Zara, Nike)

• Jeans – 81.75 €;
• Summer dress – 25.50 €;
• Sneakers – 66.88 €.

For people planning to stay in Alicante and work there – the salary of a specialist, after paying all taxes, is about 1 477 € per month.