Buy Property in Alicante, Spain: A Clear Guide for Foreigners

Buying real estate in the heart of Costa Blanca, Spain, grants immediate access to:

• Beautiful Beaches
• An Exquisite Old City
• Blessed Mediterranean Weather Conditions

The Alicante real estate market has seen steady demand, particularly from international buyers. While property prices in Spain fluctuate, Alicante remains a hotspot for foreign investment due to its affordability and appeal as a prime tourist destination.

Why Invest in Alicante Property?

See why Alicante is so popular with tourists and foreigners:

Golden Visa Opportunity

Acquiring property in Alicante with a value of at least €500,000 will grant you qualification for Spain’s Golden Visa program, which means long-term residency and easy travel across the Schengen Area.

Reasonable Cost of Living

Relatively speaking, Alicante ranks higher than other European cities on the balance between quality versus cost. Dining out, utilities, and transportation tend to be cheaper in Alicante.

Competitive Property Prices

Alicante has lower property prices than most other Spanish cities, though they have a great value for money with a good investment potential.

Scenic Coastal Living

From the transparent waters at Playa del Postiguet to the quaint marina and promenades, few cities have oceanfront appeal like Alicante.

Accessibility

Alicante-Elche Airport has direct flights from major European and UK cities and more, making travel hassle-free for the international buyer.

Can British people buy property in Alicante?

There are no restrictions in Alicante for foreign nationals, including Brits, either buying or renting property. The Spanish government puts no obstacles and instead encourages investment by foreigners in property, one of the major incentives being the Golden Visa.

Alicante is a pretty open city in terms of its real estate market to foreigners. Besides being cheaper compared to other similar European and U.S. coastal towns, it is able to offer a seamless purchase process to foreigners. 

British buyers will love Alicante since it is all about offering the best mix of cultural richness and laid-back life, from the pulsating food scene to the historical heritage.

While Brits face no legal barriers to purchasing property, there are a few logistical considerations. Securing a mortgage may require opening a Spanish bank account, and non-residents might need a larger deposit. 

Despite these challenges, many foreigners successfully acquire property in Alicante, leveraging its benefits as a gateway to Spanish residency and European travel.

Finding a House in Alicante

The search for the perfect property in Alicante involves navigating through a very active real estate market – from modern apartments right in the city center to villas with sea views; everything is at your disposal to suit every taste and wallet.

Popular real estate websites in Alicante

• Fotocasa

• Idealista

• Kyero

It’s best to see properties first hand to avoid any potential pitfalls. An online listing may be a good starting point, but only a personal visit will make you aware of the actual state, area, and value of the property. You can work with a local agent or solicitor in state and financial matters, from property checks to contract reviews.

Upscore’s Benefits

Upscore’s Finance Passport makes life easier for anyone trying to own a house in Alicante by offering customised mortgage solutions combined with professional advice.

Multiple Lenders: Compare different mortgage deals to find the best one available from local lenders.

Apply Anywhere: Our secure, online application puts you in control – apply for your mortgage anywhere, anytime.

Personalised Service: Work with a dedicated agent through the mortgage process.

Free to Use: Upscore services are free, the commission comes directly from the lenders once a loan has been disbursed.

FAQs

How Much Does Property in Alicante Cost on Average?

Prices for Alicante real estate differ regarding position and type. Thus, apartments in the very center can be sold for about €2,000 per sq. m. on average, while villas in prime areas can cost from €300,000 and more, depending on the features.

Can I Invest in Real Estate in Alicante Without Visiting Spain?

It may be advisable to take a look at the property itself. Many buyers employ the services of some credible local agents and solicitors for the actual purchase remotely, usually at the beginning.

What Taxes Apply When Buying Property in Alicante?

The property transfer tax is paid by the buyer (6-10% of the purchase price), notary fees, and legal costs. Yearly, a property tax, IBI, will be demanded after the purchase.

Is it Easy for Foreigners to Obtain a Mortgage in Spain?

Yes, though they normally have higher interest rates for non-residents and request a bigger deposit, usually in the range of 30-40%. Upscore can help you find competitive mortgage options that fit your needs.

Are There Any Restrictions on Letting my Property in Alicante?

All short-term rentals are subject to local regulations, which means they must obtain a tourist license. Long-term rentals are largely unregulated, but should in theory adhere to Spanish tenancy laws.