The Housing Market on the Costa Blanca
The real estate market on the Costa Blanca, especially in Orihuela Costa, has experienced significant changes in recent years, driven by economic, social, and demographic factors. Below are the current trends:
Growth in International Demand
Costa Blanca has historically been an attractive destination for international buyers, especially from the United Kingdom, the Netherlands, Germany, and more recently from Nordic countries. The demand has increased thanks to:
Climate: Ideal for those seeking a warm destination with a Mediterranean climate.
Transportation connections: Improvements in infrastructure, with more low-cost flights and easy access.
Remote work: After the pandemic, many have opted to move to peaceful places with a good quality of life, like Orihuela Costa.
Housing Value Trends
Housing prices on the Costa Blanca have shown an upward trend, with some fluctuations depending on the area. Orihuela Costa has experienced a moderate increase, with prices rising between 4% and 6% annually, especially in areas near the coast, such as La Zenia, Cabo Roig, and Playa Flamenca.
Second-hand homes: Despite price increases, second-hand homes remain popular due to their more accessible prices.
Trends in Orihuela Costa
Most demanded property types: Bungalows and apartments, both on the first and second beach lines, are the most requested. There has also been increased demand for detached villas, especially in gated communities with good facilities.
Focus on quality homes: Interest has grown in properties with good finishes, large terraces, and sea views. New developments are often more luxurious, with swimming pools, gardens, and communal areas.
Investments in new developments: Areas like Villamartín and Las Colinas Golf & Country Club have seen an increase in the construction of luxury homes and apartments, attracted by buyers interested in exclusive services like golf courses or marinas.
Future Outlook
Sustainability and modernization: The market is expected to focus more on sustainability and modernization, with new constructions incorporating green technologies, such as solar panels and energy-efficient systems.
Price stability: Despite the increases, a moderation in the growth rate is expected, which could lead to long-term stability.
In summary, Orihuela Costa has experienced sustained growth in its real estate market, with increased demand for quality homes. Despite rising prices, the area remains accessible compared to other more developed regions in Spain, continuing to attract both national and international buyers.
