Torrevieja is a city in the province of Alicante in the region of Valencia. It is located on the southern coast of Spain and has a pleasant Mediterranean climate. There are more than 320 days of sunshine a year, mild winters and warm summers, constantly attracting tourists and making the city a great place to spend a long holiday and shopping. property in spain. Torrevieja has many beautiful sandy beaches and a developed infrastructure including international schools, modern clinics and a variety of restaurants and shops. Other advantages of the city are its rich history and cultural heritage. In addition, Torrevieja is located close to the most popular tourist destinations in Spain, such as Alicante, Cartagena and Murcia.
Property prices in Torrevieja
There is a wide variety of properties in the city. In the secondary market there are interesting offers for less than 50,000 euros. Additionally, many of the available properties are located in good neighborhoods near the beaches. If your budget allows you to consider more options, you can consider purchasing apartments in development projects in Spain or beachfront houses, which offer good opportunities to rent or sell.
Those interested in luxury properties will also find great deals. You can consider modern. apartments in spain in gated communities for €300,000, impressive villas for €500,000 and exclusive mansions with premium amenities valued at more than €1 million.
The cost of property in Torrevieja varies between 1,720 and 2,750 euros per square meter. At the beginning of the second half of 2023, the average price per square meter of housing was €2,165, which is 12.36% more than in August 2022 (€1,925/m²). This is the highest figure in the last two years. The highest sales price was recorded in the Los Balcones area (Punta Prima), 2,750 euros per square meter.
The list of neighborhoods with the most expensive properties also includes:
- La Mata – €2,260/m2;
- Playa de los Locos, Los Frutales and Cabo Cervera – 2,590/m2;
- Aguas Nuevas, Torreblanca and Sector 25 – €2,210/m2;
- La Siesta, El Salado, Torreta and El Chaparral – €1,965/m2;
- Acequión and Los Náufragos – €1,950/m2.
The average cost of housing at the moment is €269,500. The cheapest areas are Centro and Playa del Cura with an average property price of €177,000 and €181,000 respectively.
Benefits of investing in a property in Torrevieja
The province of Alicante, where Torrevieja is located, is a popular place for tourism and moving permanent residence. Every year, more and more people are interested in buying houses in Alicante, followed by a constant increase in real estate prices. According to 2023 data, housing prices here increased by 13.3% to 17.8% over the year, which is a very high indicator. At the same time, the city is popular with foreign investors who buy luxury properties. At the beginning of 2023, there were 40,295 luxury properties for sale worth more than €1 million in Spain, and 10.6% of them were located in Alicante.
Torrevieja is located 50 kilometers from Alicante. Today, it is a popular location for short and long-term property rentals. The most profitable properties are two-bedroom apartments. Its average cost is €96,000, and the annual income from short-term rentals through popular platforms is €15,000 with a profitability of 15.58%. However, there are even more favorable options on the market.
We can highlight the following advantages of investing in housing in Torrevieja:
- Attractive prices. The cost of living and property in Torrevieja is more affordable compared to large metropolises. This makes buying a home a favorable investment decision. Regardless of whether you buy commercial property, apartments in a new residential complex or a villa in spainPrices can be expected to increase in the coming years.
- Good transport links. You can reach Alicante in an hour by bus and then freely reach any part of Spain.
- Variety of entertainment. In Torrevieja you can play golf or tennis, practice water sports or take a boat ride. There are parks, movie theaters, and music and film festivals.
The combination of a mild climate, magnificent beaches and developed infrastructure for living, sports and recreation make the city attractive for real estate investment.
Buy a house or apartment in Torrevieja
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