If you are thinking of investing in real estate in Benidorm, you’ll find a wide range of options. The town is a popular destination for holidaymakers. It’s not the cheapest city on the Costa Blanca, but the high investment potential and development of the area make the prices justifyably high. In season, hotels and apartments can be fully booked. Buying property in Benidorm is a transparent process.
Property for sale in Benidorm
The area of Benidorm has a wide range of property options, from apartments with pools to villas. While some people prefer the nightlife of the city, there are also quieter areas to live in. The Sierra Cortina and Cala de Finestrat are a couple of examples of these.
Benidorm is an excellent location for both buying and selling property. The city is known for its enormous beaches and beautiful promenade. It also boasts numerous residential buildings, many of which are brand new. Many foreign and local investors are interested in buying luxury apartments in these buildings. In addition, stylish country villas are a popular option as well. Benidorm real estate can be used as a permanent residence or as a holiday home, with rents earning tens of thousands of Euros per season.
The price of property for sale in Benidorm depends on its location and the size of the property. Usually, a two-bedroom apartment will cost around 70,000 euros. Three-bedroom apartments will cost about 120,000-150,000 euros.
Buying property in Benidorm for foreigners
If you are looking to buy property in Benidorm for foreign buyers, there are some things that you need to be aware of. Firstly, you need to be aware of the legal requirements. You will be able to purchase a property only after you have submitted all the necessary documents. Secondly, you need to be aware of the local taxes and fees. These fees vary depending on the city, and you need to take into account the rate that applies to your area.
The cost of a property in Benidorm for foreign residents is relatively low. A two-bedroom apartment will set you back about 70,000 euros. A three-bedroom apartment will be between 120,000-150,000 euros. In the event that you decide to buy a property in Benidorm for foreigners, you should consult a lawyer who speaks the local language. This attorney will be able to help you understand the Spanish laws and help you understand the conditions of purchase.
Spanish banks offer a wide range of mortgage products for foreigners and expatriates. However, you should remember that buying in Benidorm requires long-term thinking. For one, capital gains tax in Spain is high, which will significantly reduce the value of your property over time. In addition, the real estate transaction costs are between ten to fifteen percent of the property’s value. This means that you will need at least three to five years to recoup your costs.
Cost of buying property in Benidorm
If you are interested in buying property in Benidorm, you should keep in mind that prices can vary greatly. A one bed apartment in Benidorm will cost around EUR175,000 while a two bed apartment can be bought for around EUR225,000. It is important to note that a property that is priced lower than EUR225,000 is likely to need renovation. On the other hand, three bed apartments start from EUR250,000. However, there are no properties in the town with more than four bedrooms.
Buying property in Benidorm involves several stages. The process of buying a property can be complicated, so it is important to have the assistance of a real estate agent. They will guide you through every step, from the first meeting at the airport to the rental paperwork. In addition, they will arrange for airport pickup and hotel accommodation.
You should also consider the practicalities of buying a property in Benidorm, such as the upkeep costs and the costs of shared amenities. In many cases, property owners will be expected to pay a monthly service charge to maintain the property.
Finding a real estate agent in Benidorm
Hiring a real estate agent in Benidoresm is a wise decision, as they know the local area and can help you find your dream home faster than you could on your own. Besides, they can offer you advice on how to make your accommodation more comfortable, which can be an important consideration when buying a new property. Additionally, they are trained to represent their clients’ interests and know the ins and outs of the real estate market.
The most important thing to remember when hiring an estate agent in Benidorm is to trust their recommendations. You don’t want to choose an agent who is trying to influence your decision. You want to choose an agent who is genuinely interested in helping you and advising you in your decision-making process.
Benidorm has many real estate agents, and you can find the best one to help you with your needs. For example, you may be looking for a new home, but prefer a second-hand one? A real estate agent in Benidorm will be able to find you a great deal on both types of property.
