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Alicante. In which areas is it better to buy property?

Over the past six years, the Spanish real estate market has been characterized by the following state of affairs: the maximum number of transactions for the purchase of real estate by Russians was in 2013–2014. The past crisis, which led to a drop in market prices, as well as the adoption of a law on foreigners, according to which you can get a “golden visa” when buying real estate, contributed to the growth of activity of private investors, including Russians. During 2015, the demand for Spanish real estate “dipped” somewhat, and after 2016, the market again revived noticeably.

The attractiveness of the Spanish real estate market is determined by the following factors:

the reality of housing prices – they are not overpriced and are a true reflection of the market situation,
the possibility of obtaining a residence permit,
the availability of the Golden Visa program,
excellent geographical location of the country and the presence of the sea,
comfortable transport links,
one of the highest levels of medicine in Europe,
quality education for children of foreigners,
the opportunity to get a mortgage in a Spanish bank for the purchase of real estate,
the possibility of obtaining passive income by renting out acquired property,
a large Russian-speaking diaspora,
loyal attitude of the local population towards foreigners.
In this regard, it is not surprising that almost 50% of all transactions for the purchase of housing in the cities of Spain popular with tourists in 2018 were conducted with foreigners.

Alicante. In which areas is it better to buy property?
There are 41 districts in the city of Alicante, but not all of them are of interest to a foreigner choosing an investment object and its location. Let’s talk only about the most attractive areas of the city from this point of view.

Areas of Alicante
Casco historico district
Most of the city’s historical sights are concentrated here – St. Mary’s Church, St. Nicholas Cathedral, medieval Moorish houses. From here there is access to the main beach of Alicante – Postiguet.

The area is worth paying attention to investors who buy real estate in order to lease it. The fact is that in July 2018, a new law on tourism came into force, according to which tourist licenses in Alicante, allowing you to legally rent an apartment, are issued only to facilities located on the ground floor. The exception is just the Casco historico district, that is, here you can rent an apartment on any floor and earn up to 150 € per day in high season.

Areas of Alicante
Ensanche Diputación District
A fairly dynamic area, in fact the business part of the city – there are many offices of large companies, notaries and municipal organizations, as well as supermarkets, shopping centers, cafes and restaurants. The nightlife here offers entertainment for every taste. Therefore, those who wish to settle away from civilization should consider more quiet areas.

From here it is very close to Postiguet beach, as well as to the main entertainment infrastructure – casinos, bars and restaurants.

There are a lot of historical monuments, including the Santa Barbara fortress. The area is characterized by a very old housing stock – the local “secondary housing” has an age of 20 to 50 years. Prices in the secondary market start from 120-150 thousand. € for 70-80 square meters. m of housing.

New buildings in the area under review are units, and prices start at 400 thousand € per apartment.

The cost of apartments on the first line of the beach is 200-300 thousand €

Areas of Alicante
Benalua District
This area is located relatively far from the center of Alicante, but the prices here are not inferior to the level of property prices in the center. The development here is denser, besides this, you can often find houses, terraces and balconies in which – this is just a name – they are so tiny that they are unlikely to fit a pair of flowerpots with flowers. Prices for this kind of housing generally range from 75-100 thousand € for an apartment with two or three bedrooms – as small as the balconies.

At the same time, the infrastructure is quite well developed, it has its own market and excellent transport interchange.

Areas of Alicante
Vista Hermosa District
One of the newest residential areas of Alicante. There are almost no high-rise buildings – according to the urban development plan, the height of the house cannot exceed two floors. Although a little later, local authorities amended it, due to which a quarter of several 10-story buildings appeared here.

The area is called the “workers”, but the prices here are practically not available for the working class: a two-bedroom apartment will cost no less than 150 thousand €, and a chalet or a separate house – 200 thousand € or more.

Along with the advantages of living in this area, there are still some disadvantages, namely: direct proximity to certain disadvantaged areas of Alicante, for example, Juan XXIII.

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