Buying in Alicante
Alicante is a province in the southern Valencia autonomous community, on the eastern coast of Spain. A tad confusingly, the capital of the province, has the same name.
While the city of Alicante is ancient, and has an imposing castle, it is also the middle point of the Costa Blanca which begins in Denia in the north and stretches down to Pilar de la Horadada in the south.
Alicante has the main airport for the region, just a short bus ride out of the city.
Why buy a home in Alicante
Overseas buyers adore Alicante. A large number of British, German, French and Belgians have found a second home, investment opportunity or retirement property in the Alicante province.
You can find low-cost apartments, traditional homes, incredible sprawling villas and everything in between. Plus, from the exciting city of Alicante to sleepy fishing villages to the party hotspot of Benidorm, there is a place for everyone’s taste.
Alicante also boasts an exceptionally pleasant climate, with over 300 days of sunshine a year and an average annual temperature of 20°C. With its choice of Blue Flag beaches, golf courses and lovely parks, Alicante offers a sun-kissed, outdoorsy lifestyle. Due to its large expat community, English is widely spoken, expat businesses flourish and there is an excellent choice of international schools, should you be keen to work or raise a family in Alicante.
How to get to Alicante
Alicante is served by Alicante airport, with multiple airlines offering flights throughout the year. From northern and eastern European cities a flight to Alicante is an easy two or three hours.
The airport is well-connected with buses and tram connections to take you to your property. Alicante airport is twenty minutes from Alicante city centre.
Is buying a property in Alicante a good investment?
Even though Alicante is hugely popular with overseas buyers, property prices have not been driven up to the same extent that they have in hotspots like Ibiza or Marbella. It is still easy to find traditional townhouses, budget-friendly apartments within walking distance of the beach and country villas.
In Valencia, the purchase tax for a resale home is 10% (it is also 10% VAT for a new build). This is relatively high – in Andalusia, purchase tax is levied at just 7%. However, for the same budget, you should be able to find a larger property in Valencia than you would on the Costa del Sol.
As well as being a hit with overseas buyers, Alicante is a sought-after holiday destination. So, you could gain a lucrative extra income from renting out your property to holidaymakers. Valencia is tightening the rules around holiday rentals. As of this year, holiday homes will no longer be able to be sold with their holiday licence, new owners will have to apply for a new one.
Where do most people buy in Alicante?
Most international buyers seek a home along the coastline. Each town has its own personality. Buyers will often find that they can get considerably more for their money by looking inland. Here are some unique towns offering a more traditional, low-key atmosphere: Altea, Gran Alacant and Elche. Towns such as Caple, Albir and Denia are still lovely but have a bigger focus on attracting tourists.
Alicante city
Although one of Spain’s smaller cities, Alicante has plenty of buzz. Highlights include the beautiful Castle of Santa, the 16th Gothic church of Santa María and the Casa de la Asegurada museum. While your go-to spot for a drink or a shop will be La Explanada de España, a palm-tree lined promenade running parallel to one of the ports. Another great location to hang out is El Postiguet, a Blue Flag Beach with volleyball, cafes, playgrounds and plenty of parking.
Orihuela
About an hour south of Alicante city, Orihuela is extremely sought-after by international buyers. It boasts a 16 km coastline with Blue Flag beaches and renowned golf courses like Villamartin, Campoamor, and Las Ramblas. Nature enthusiasts can explore the Sierra de Orihuela mountains, ideal for hiking and cycling. It is also home to the largest shopping centre in Alicante province, Zenia Boulevard.
Torrevieja
Torrevieja boasts of stunning rose-tinted lakes as well as Blue Flag beaches. It has a wonderful outdoor market, Mercadillo de Torreveija. And thanks, in part, to two water parks, it is a super family-friendly seaside town.
Alicante Property Market
The Alicante property market offers a wide range of options. You can find properties for sale in Alicante that have a traditional Spanish feel but need significant renovation, with options well below €100,000.
There are also numerous purpose-built, key-ready apartments in Alicante, in close proximity to the beach, shops, restaurants and with access to a communal garden and swimming pool. Alicante is a great place to look for a larger home too: from budget-friendly countryside homes to luxury properties a stone’s throw from the beach.
Steps to buy property in Alicante
- Search online: The Your Overseas Home property portal has over 25,000 listings in Alicante. Determine what you can buy for your budget, as well as a list of features you would like in a home (close proximity to the beach or golf, mountain or sea views). You may want to narrow down your search to specific towns (such as Albir, Javea, Orihuela).
- Form a team of experts. Once you have chosen a handful of properties that tick your boxes, reach out to an estate agent. They will be able to talk through the area and what you are looking for in a home in greater detail. Fortunately, as Alicante is so popular with oversea buyers, your estate agent is bound to have plenty of expertise. You will also need an English-speaking lawyer to ensure that the purchase is legally secure. Plus, a currency specialist like Smart Currency Exchange can help you to transfer your budget over to Alicante. You may also want to connect with a financial advisor and a mortgage specialist.
- Book a viewing trip. Once you have your team in place, head out to Alicante to see your pick of properties. If you haven’t narrowed down to a specific town, check the journey times between each home, it’s quite a large area! If you find a home that ticks your boxes, then reconnect with your professional team and make an offer.
- Once you have made an offer: If the seller accepts your offer, you will sign a reservation contract and pay a fee to take it off the market. While surveys are not the norm in Spain, many international buyers prefer to have one, so you will easily be able to find an experienced professional in Alicante to complete one. Then, you will sign and pay the deposit, around 10% of the purchase price. As you’ve now committed to buying your dream Alicante home, lock in your exchange rate to ensure that you do not lose out on thousands. Meanwhile, your lawyer will contact the notary to ensure the legality of the sale.
- Hold the keys in your hand: You will need to sign the sale contract, escritura pública at the notary’s office. Finally, pay the balance of the purchase price, minus the deposit you have paid. You must also pay the relevant taxes (ITP), stamp duty, notary fees and legal fees.