Costa Blanca property investment: a holiday home in Calpe – Alicante

STEPHANE — Thu, 01 Apr 2021 10:09:31 +0000

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In order to get closer to the market in the Costa Blanca, we asked our independent local property finder, Valérie, to write about her latest activity there. Should you need more information, we will put you in touch with her, she is our local independent partner of howtobuyinSpain.

Case Study: A holiday home in Calpe – Alicante

First, let’s discover the Costa Blanca

With more than 240 kilometers of coastline, the Costa Blanca region has many activities attracting tourists from all over the world. Its mild Mediterranean climate offers more than 300 days of sunshine to fully enjoy its magnificent beaches and the various nautical activities. Check the weather statistics of any Spanish city here. The historical and cultural heritage of the Costa Blanca has nothing to do to envy the neighbouring regions: it has magnificent natural spaces and architecture classified as UNESCO World Heritage Site. Its lively nightlife during the high season provides the region with an unparalleled atmosphere and makes it a tourist mecca.

To discover more about the Costa Blanca, read our paper: Everything you should know about the Costa Blanca.

Know everything on the Costa Blanca: its Airports, its AVE stations, its Cities and villages, its shopping places: Traditional & Flea markets, Outlets and shopping malls. What should you visit? The Unesco sites, the parks for kids, the green parks, the golf courses, the universities and last but not least the top beaches. Check our infographic.

Calpe is well know for second homes

Calpe is in the north of Altea and South of Moraira. It is well known for second homes. You will find modern buildings and classic Spanish houses. Calpe has a big community of retirees and by such has a lively community 12 months per year. Of course, summer months are more active as any coastal city in Spain.

White houses in Altea, South of Calpe

What is the current situation for the real estate market in this region?

Whether it is a purchase to spend your retirement, a family second home or an acquisition of real estate for rental purposes, the investment in this region appears to be a very interesting option because the prices per square meter remain attractive to this day. With some natural, historical and modern landscapes the Costa Blanca attracts investors from all over the world and from Spain.
Ideally located, Calpe is close to the region’s reference cities (at only 24 kilometers from Benidorm and 63 kilometers north of Alicante) and access is available easy via the road and motorway network, the train or even the international airport of Alicante-Elche (less than an hour’s drive). Calpe’s real estate market provides a considerable and diversified choice with many old dwellings but as well many recent builings that will meet the needs of future owners.

Here is a quick look at the real estate price evolution in Alicante, the capital of the province, over the last 20 years

Real estate prices in Alicante: €1.292 /m² (Dec 2020), -1.7% vs last year
Transactions for Alicante were weak in 2020 due to the Covid: 34.733 -18% vs last year

Prices in Alicante remain on average 20% lower than the national average and close the lowest reached since the crisis of 2008.

Acquire a resale?

More and more foreign buyers are in search of a pied-à-terre to stay on holiday or in search of an investment for rental purposes. Whatever the purpose is, most of the time, it will require renovation work.

On the one hand, the significant economic advantage of buying a resale makes it possible to acquire a cheap housing. On the other hand, renovation provides the advantage of adapting the property according to tastes and desires of each other.

Let’s review the property of Calpe: A sea-view detached building with pool in Calpe

Objective with the property

Rental investment and to enjoy Spain some weeks per year.

Buyer profile

A french couple with 3 children

Property description

A three storey building with fantastic sea- view. The property is composed by 3 independent flats, each one with its own entrance. The flats have a kitchen, a dining and living room, 2 or 3 bedrooms, 2 bathrooms and a large balcony facing the sea.
The house is on a plot of 550 square meters with different private terraces, a barbecue area and a swimming pool.

Beautiful sleeping room with cement tiles

Neighbourhood

The property is situated in Maryvilla, a very peacefull neighbourhood located
about 5 minutes drive from the city center of Calpe and the beach.

Terrace sea views on the “Peñon de Ifach” which is sometimes called “the little Gibraltar”

Budget

The customers had a budget in mind of 290.000€

How do we help you?

Carrying out work in a property is often synonymous with anxiety for the owner of the premises. We are aware of this and we manage for some of our customers on site renovation with local teams and make sure it runs smoothly.

Investing in a property to be renovated requires the assurance of being accompanied by professionals with a perfect knowledge of the market and the profession.
On the one hand, after having found the ideal property corresponding to the expectations of our customers, we guarantee the buyer peace of mind throughout the entire process by providing him with the competent companies with which it has already collaborated in order to take into account the loads the work to be done.
On the other hand, we also offer our customers the possibility to budget the amount of work by drawing up a precise diagnosis and making various estimates in order to have an overview and to allow the total amount of the property to be assessed after works. In addition to that, in order to offer maximum peace of mind to buyers, the agency can also take care of the entire administrative aspect of the process (authorizations, permits,…). Time and deadline management is a priority for us, which ensure to supervise the process and can set up, thanks to its partner law firm, a contract between the agency and the company carrying out the work in order to provide the ideal protection conditions and get an exhaustive execution of the latter (precise estimate, completion date, etc.).

Adding contractual penalties in the event of partial non-performance or delay of the contractual agreement due by the service provider company, is as wel part of the job
We are committed to supporting our customers before, during and after the purchasing process in order to provide a complete service and ensure regular follow-up to enable buyers to make a successful and secure transaction with complete peace of mind.

Ask our network at HowtobuyinSpain.com

In addition to our local property finders, How to buy in Spain as developed a network of local renovation teams.

If you are looking to buy in Spain, we would suggest that you read our earlier paper on Property hunting: 6 essential reasons for loving your Spanish real estate shopper. This paper is very interesting and gives you some of the important reasons why working with a property hunter is very useful for foreigners looking to buy in Spain. You will find specific samples our independent local partners worked on in Alicante, Valencia, Barcelona and Madrid. Here are our other “Case study” written on Madrid, Barcelona and Tenerife: Property hunting “Case study” in Madrid, Property hunting “Case study” in Barcelona and Property hunting “Case study” in Tenerife written by our local independent property finders.