Spanish real estate is traditionally in demand among the investors. Comfortable climatic conditions, a developed economy, and the infrastructure of a European country attract those planning to move to permanent residence. Before you cost of apartments in Alicante, Barcelona, or Madrid, it will be reasonable to get additional information about the country’s regions.
The Attractiveness Of Real Estate In Spain
There are no restrictions on the purchase of real estate by foreign citizens in the country, which allows you to use and dispose of housing stock at your discretion in any of the regions of the country. Other reasons to buy overseas real estate include:
- Affordable cost. Prices for apartments vary depending on the area, but it is possible to find an option for 30-40 thousand euros.
- Favorable system of mortgage lending. Banks issue loans up to 80% of the total value of the object.
- Liquidity. The demand for housing in Spain is constantly growing, so if you need to sell an apartment, it will be easy to find buyers.
- They simplified the visa regime. The homeowner is entitled to a Schengen visa, which opens the way to all EU countries.
The possibility of obtaining a residence permit with the subsequent acquisition of citizenship.
Which Part Of The Country Is Best To Live In?
There is no universal answer to this question since it is best to form your impression of the country during a study tour. However, below are the main characteristics of sought-after communities:
- Barcelona, the second most popular tourist region after Madrid. The city, with many attractions and developed infrastructure, is suitable for an active life. Primary and secondary objects represent the building. There are old panel houses and modern residential complexes. The cost of housing is higher than in more compact cities and starts from 80,000 euros.
- Valencia is the third largest city in the country. The rhythm of life is more relaxed than in Madrid and Barcelona, and the infrastructure is just as developed. The prices range from 35,000 euros for old houses to 80,000 euros for a small apartment in the new building.
- Alicante is another popular tourist destination in Spain. Here is the warmest climate; even in winter, the temperature rarely drops below +15 degrees. The cost of apartments starts from 20,000 euros, but these are the prices of objects in the old housing stock, remote from the coast.
- Torrevieja is a small city, often referred to as “Russian,” as it has the largest Russian-speaking community. An ideal place for a calm and measured life. The cost of apartments, on average, starts from 35,000 euros.
When buying a home, you need to take into account the moment that the lowest prices are for objects that need further repairs. Comfortable modern apartments in the coastal zone are much more expensive.
The Cost Of Apartments In Alicante
Alicante is a Spanish provincial city located on the Mediterranean coast. Is it worth it to buy property here? Everyone makes their own decision. Undoubtedly, the cost of an apartment or a private house depends on the property’s location.
The choice of housing in Alicante is very wide. There are good options for economy-class budget apartments for those counting on a small cash investment. As a rule, this is a secondary housing, with an area of 65 sq.m., with two bedrooms, one bathroom, a kitchen, and a living room. The distance to the sea is about 2 km, costing 33,000 euros. For such a price, you can also find 3-room apartments in Alicante near the city beaches, with an area of 81 sq.m. Such a low cost is due to the “age” of the houses and the lack of elevators and garbage chutes.
There are also more expensive options for apartments located in new buildings almost on the coast itself. For example, a 1-bedroom apartment in Torrevieja (Alicante district) costs 56,000 thousand euros, while the distance to the sea is only 300 meters. New 2-bedroom apartments in Alicante near the sea are sold from 70,000 – 72,000 thousand euros. Comfortable housing of this type is distinguished by the presence of expensive repairs, fully equipped rooms, a large utility room, and the availability of all necessary equipment.
Assistance In Choosing And Buying Apartments
The official website Spain-Real.Estate presents current offers from developers and real estate agencies. You can check prices in real-time. The company’s specialists are ready to provide professional assistance in choosing to house and processing the transaction.