Mission Statement: to assist the integration of foreign residents living in Spain
By Johanna Gardener •
Updated: 12 Nov 2024 • 19:24 • 3 minutes read
The stunning beaches of Moraira in the Costa Blanca North are just some of the reasons for the rise in property investment
Credit:Shutterstock:Nicole Kwiatkowski
The Costa Blanca North is a region that is a developing and prosperous hub for real estate and 2024 is an exciting time to be investing in property with experts predicting a promising future for the region.
The Costa Blanca North real estate market is buzzing. It is still a highly attractive region in Spain for home buyers and investors in 2024 and this is mainly due to its enviable location, year-round sunny Mediterranean climate and scenic beauty. It has excellent investment potential for both property buyers and those wishing to buy and diversify through rental opportunities.
Property value in the Costa Blanca North is growing steadily but surely
The Costa Blanca North’s towns and villages have seen a steady growth in property value due to growing demand from national and international investors. Throughout 2024, there has been a steady yet definitive increase in property prices; in areas like Javea, Denia, Moraira and Altea, there have been property price hikes of between 5 and 7% above the national average. The rise has been attributed to higher demand for luxury villas, coastal apartments and town houses, as foreign investors continue to be attracted by the high-end lifestyle promised to them.
Javea: area with the most acute rise in property value
Javea has been the area with the most significant rise in property value and, like Moraira, is considered a prime location with luxury villas reaching a steep €2.5 million. In nearby Denia, coastal apartments start at anywhere from €200,000 and can reach up to almost a million if it’s the sea views you’re looking for.
The market on the Costa Blanca continues to be dominated by international buyers comprising mainly investors from the United Kingdom, Germany, Scandinavia, Belgium and the Netherlands, and also a significant increase in those from the United States. In fact, recent speculation suggests that numbers of investors from the US will grow since the election of Donald Trump as US Prime Minister earlier in November. Costa Blanca is not the only region attracting foreign investment. The upwards trends parallel those of other coastal destinations like Marbella and Mallorca, which equally boast a coveted repertoire of benefits including a relaxed pace of living and an enriched quality of life with the sun-kissed Mediterranean Sea on their doorstep.
Golden Visa scheme encouraged property investment in high-end homes
The popularity of digital nomad communities and remote employment is granting more freedom, which drives investors to look further afield than their own country for property. Not to mention the Golden Visa scheme, which has offered viable channels for high end property investors to be granted automatic residency in Spain. It must be noted that the Golden Visa policy will be changing in Spain as of 2025, so be vigilant regarding amendments.
Costa Blanca North: rentals for strong profit margins
The short term rental market has also shown positive trends. There is a high demand for vacation homes during peak holiday seasons, which makes buying a property here a valuable investment as profits could be substantial. Rental prices have seen rises of 4.3% in 2024 and the good news is that recent legislation, which aimed to control the flux of rental property investors, has favourably changed the demographic towards more serious buyers, who prefer to rent legally and often long term. Just make sure to factor the costs of obtaining rental licenses into your budget if you are thinking of going down this route.
Developments cater for growth in Costa Blanca North
The Costa Blanca North has promising prospects for the future when considering investment. Property prices will gradually continue increasing according to experts, as demand for local and foreign buyers remains robust. The area is also wisely catering for this with new developments planned in healthcare and transport routes, as well as a push for eco-friendly homes and workspaces. Property developments have been part of the bargain, as new modern villas and apartment complexes have been built in areas like Moraira and Benitachell, without damaging the landscape or creating an eye sore.
Costa Blanca North: hotspot for property investment now and next year
To sum up, the Costa Blanca North is a glowing hub for property investment now, and will continue to be so. It offers high-end living options for those who wish to reside in the area and diverse rental opportunities for those who don’t. The area is picturesque with stunning mountain views, extensive stretches of sand in the coastal regions and charming villages. It is adapting itself smartly for exponential investment across several regions through development projects and at the same time is keen to maintain its scenic beauty, rustic charm and eco-friendly promise.
For permanent or temporary property investments, the Costa Blanca North continues to stand out as one of the most attractive property markets in Spain!
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Written by
Johanna Gardener
Originally from Manchester, UK and with a degree in English with Modern Foreign Languages, she has been a permanent resident in Spain for the past 12 years. Many of these years, she has spent working as a secondary school teacher, as well as in journalism, editing and marketing. She currently lives in the historic centre of Malaga, where she enjoys writing, walking and animals.
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