The Costa Blanca has positioned itself as one of the preferred luxury destinations in Spain to buy a premium property.
While the traditional housing market is experiencing a recession in Spain, the luxury market is experiencing its own particular real estate boom. This is demonstrated by the data analysed by Hispania Homes in relation to luxury housing in Spain and the Costa Blanca.
During 2023 there were 12% fewer sales in Spain. Inflation, the loss of purchasing power in households and the rise in interest rates were behind this recession.
However, this downturn seems not to affect luxury property sales and purchases, which have increased in number of transactions since 2018 according to a study prepared by the Valuation and Consultancy company Tecnitasa based on its valuation and appraisal reports of recent years.
how much have luxury housing transactions increased in Spain?
- Homes from 1.5 to 5 million euros: they have multiplied by 6
- Properties of more than 5 million euros: they have multiplied by 9.
The rise of Alicante as a new luxury destination in Spain
The provinces of Madrid, Barcelona, Malaga and the Balearic Islands have always been positioned as the main luxury destinations in Spain. These four provinces still account for 70% of all available luxury homes. However, there is another province that is gradually gaining ground: Alicante.
The luxury housing market in the province of Alicante has increased by 25% in the last 3 years.
The province of Alicante is becoming a booming luxury destination for buyers with the highest purchasing power, with luxury, super luxury and premium homes being the main target of their real estate operations.
>> Access to luxury properties on the Costa Blanca <<<
why the Costa Blanca as a luxury destination?
The Costa Blanca offers obvious attractions as a luxury destination in Spain. The good connections in the Mediterranean area mean that many foreign buyers choose this area to establish a second home to enjoy during certain months of the year or to make it profitable by renting.
It should be taken into account that the Valencian Community is the most profitable community both for renting and for buying and selling. According to the latest ranking of profitability in the Costa Blanca prepared by Hispania Homes, buying a property in the area to sell it 5 years later, allows you to achieve returns of up to 52%.
The sun, the beach, the pleasant temperatures throughout the year and the unique landscape of the area that combines the sea with the mountainous terrain, make the Costa Blanca the preferred place for buyers of all types, but especially for buyers of luxury homes.
where are the most expensive properties in Alicante?
The Tecnitasa study differentiates between three different segments of high-end housing:
- Premium homes: between 1.5 and 3 million euros
- Luxury homes: between 3 and 10 million euros
- Super-luxury homes: more than 10 million euros
Within the premium housing segment, the average price paid for a property in the province of Alicante is 3,913 euros per square metre and 2,016,716 euros per property.
The properties with the most expensive price per square metre in the province of Alicante can be found in Alicante city. There, the square metre of a property amounts to 5,085 euros, obtaining an average price per property of 2,328,033.01 euros.
However, the most expensive properties in the province of Alicante are located in Jávea, with an average price of 2,666,278.01 euros. The reason why properties in Jávea are more expensive than those in Alicante, despite having a lower price per square metre, lies in their size. In Jávea we can find much larger luxury villas than those in Alicante.
>> See Villas for sale in Jávea <<<
Here are the average prices of premium properties in the province of Alicante.
| Municipality | Average value per dwelling | Average value per m2 |
|---|---|---|
| Alicante | 2.328.033,01 € | 5.085,04 € |
| Altea | 1.522.788,71 € | 2.708,48 € |
| Benissa | 1.716.946,88 € | 4.016,25 € |
| Calpe | 2.015.861,42 € | 4.980,51 € |
| Campello | 1.530.066,04 € | 4.447,22 € |
| Finestrat | 2.298.159,58 € | 4.835,01 € |
| Jávea | 2.666.278,01 € | 3.588,53 € |
| Nucia | 1.992.004,40 € | 3.131,59 € |
| Orihuela | 1.943.588,53 € | 3.850,21 € |
| Teulada | 2.095.254,60 € | 4.686,53 € |
Table prepared by Hispania Homes based on data from the Tecnitasa study on luxury homes.
Luxury homes on the Costa Blanca
In this way, the Costa Blanca is consolidating its position as a luxury destination in Spain due to the increase in the number of transactions of this type and the weight they have over the total number of transactions registered.
At Hispania Homes we have the most exclusive luxury properties on the Costa Blanca: villas in Moraira, Jávea, Calpe and Benissa among other locations. We also offer real estate services specially designed for this type of property:
- Real Estate Personal Shopper: ready to assist especially in the purchase of luxury homes, a figure with whom you will feel accompanied from start to finish.
- Services for sellers: comprehensive plans for the sale of luxury properties that include the latest technology in the sector: interior decoration, 360º tours, home staging, neuromarketing...
If you are interested in becoming involved in the luxury property market on the Costa Blanca, we give you exclusive access to our premium properties section.
