Benidorm Property Market and Real Estate Guide
(Benidorm, Costa Blanca, Spain)
Benidorm is a large town on Spain's Costa Blanca, which has for many years been attractive to foreigners looking to buy and rent property abroad. Both Alicante
and Murcia airports are close to Benidorm, meaning the location is ideal for those wishing to come and go as they please.
Despite the global economic downturn, the amount of people looking for property in Benidorm has actually risen in the last few years as many people from northern Europe have cottoned on to the fact that the area has great investment potential. Prices have risen considerably and it is worth noting that the only cheap properties often need a lot of work.
With Costa Blanca becoming known as Europe's California
and many Europeans still choosing to retire in Benidorm, buyers are likely to get a return on their investment. Most houses can be found in the urbanised areas surrounding Benidorm, although there are also apartments for rent in the centre and by main beaches of Levante and Poniente.
Renting Serviced Apartments
Serviced apartments are common in Benidorm, but most of them cater for the holiday market. They can be found around the beaches of Levante, Cala Finestrat and Sierra Cortina. Some holiday rental companies will make a deal for a long-stay contract, but tenants are still likely to pay almost double what they would for a regular apartment in town. In contrast to serviced apartments, holiday apartments offer some of Spain's lowest rates out of season.
Most serviced apartments in Benidorm are fully furnished and come with a complimentary weekly cleaning service. Some also have a basic kitchen, although an oven is rare. Tenants will normally have to sign at least a six-month contract for anything other than holiday rentals.
Buying Apartments and Houses
Pricey apartments can be found in Benidorm town centre and the main beach areas, whereas most of the villas lie outside the main hub. Ready-to-go villas can be very expensive, but buyers can expect to knock a big chunk off the price for anything that requires extensive renovation.
Buyers should also expect to add around ten percent on to the price to cover taxes and agents fees, although the latter can be avoided if you find a property that is being privately sold. A local lawyer can help with the transfer of registration, deeds and taxes, but it is also useful to have a lawyer in your own country should any difficulties arise. Spain's yearly wealth tax should also be taken into consideration.
Real Estate Agents
Costa Blanca property agents can show you properties that aren't on their books and split the commission with other agents. It is important to find an agent with a good command of English and a good track record of working with foreigners. Most agents charge between three and five percent of the property price in commission.
Check out the following Benidorm real estate agents:
Agencia Inmobiliaria Poniente
Address: Calle Ruzafa 11, Benidorm, 03501, Spain
Tel: +34 96 585 6800
Agencia Poniente offers a full range of properties throughout the region.
Address: Avenida Jaime I 52, Esquina con Tomas Ortuno, Benidorm, Spain
Tel: +34 96 585 8000
Email: info email@example.com
Visual Homes specialises in apartment sales.
Address: Benidorm, 03501, Spain
Tel: +34 96 611 2773
Ultimate Homes has a range of property for sale on the coast and good advice for buyers on their website.