Are you planning to sell your villa in Costa Blanca, Spain? Costa Blanca is one of the most popular regions in Spain, and a real hit with foreign tourists. The region has witnessed a property boom in recent years, which has been a complete turnaround since the 2008 housing market crash.
Construction in Costa Blanca has picked up by quite a lot recently. There are plenty of great apartments and houses available for sale at bargain prices here, which investors find to be very attractive. If you have a property for sale in Costa Blanca, Spain, you are sure to get a lot of attention for it.
There has been a rash of new developments in Costa Blanca in recent years. There are a plenty of choices available to foreign nationals looking for holiday homes here. Many foreign investors look to stay here for only a part of the year, such as during the winters. Some stay here permanently.
There is an excellent possibility of earning a very god rental income from properties in Costa Blanca as well. Since most foreigners who own villas here stay for only a part of the year, the property remains vacant for the rest of the year. So renting out the property when they are not using it allows the owners to make a very good passive income from it.
Costa Blanca, like many regions in Spain, has benefited from the Golden Visa scheme introduced in 2013 to attract investment from wealthy non-EU nationals in the Spanish property market. So far an incredible €2.13 billion worth property investments have been made in Spain through this scheme.
Basically, any non-EU national who makes an investment of €500,000 buying properties in Spain gets residency permits and the right to reside in the country, with the option of applying for a permanent residency after a few years.
So far, over 13,000 non-EU foreign nationals have availed of this offer from the Spanish government, most of them from China and Russia. In fact 60 percent of the Golden Visas issued so far have gone to Chinese and Russian investors, many of whom have looked to buy property in Costa Blanca, Spain.
The data shows that home prices in Spain have been rising fast. In May 2017, property prices increased at an average of 5.3 percent across Spain. Home prices have been up in Costa Blanca as well, but the housing market here is still 40 percent below the peak prices last witnessed in 2007.
This means that there is a plenty of opportunity for growth. Home prices in Costa Blanca, as in the rest of the country are headed for a secular growth over 2017 and beyond.
There are many reasons for this. The Spanish economy is in a very healthy state, growing at 3.2 percent in the first quarter of 2017. This makes Spain the fastest growing economy in the region.
It has also helped that Spain has a stable government in the centre. There is a new found political stability in Spain, which foreign investors find very attractive. Regions such as Costa Blanca are in a great position to take advantage of such a positive state of affairs in the country.