Laurence Dollimore
WITH property prices on a steady rise in Spain, it’s becoming more and more difficult to find a cheap coastal home.
In Alicante city, for example, prices in September reached an average of €2,298/m2, representing a year-on-year increase of 12.6%.
However Torrevieja (pictured above), some 75km south, continues to offer incredible value for money, with homes in the centre and Playa del Cura areas going for averages of €1,578/m2 and €1,856/m2 respectively.
On property portal Idealista, there are multiple two-bedroom apartments near the beaches of Torrevieja going for €65,000.
There are even homes for as little as €34,600, although they require extensive work.
For context, a two-bed seaside home on the Costa del Sol would be difficult to find for less than €200,000.
Torrevieja is around 40 minutes south of Alicante airport, lying on the southern tip of the southeastern province.
It has around 89,920 inhabitants and is packed with British expats, and in fact is home to 122 different nationalities.
It boasts 14km of pristine coastline and a warm climate with an annual average temperature of 18C.
The bargain prices in Torrevieja buck the trend of other nearby seaside areas, which are seeing rapid increases.
In Elche, the average property price was €1,389/m2 in September, representing a 9.1% year-on-year jump, while prices in San Vicente del Raspeig surged 12.2% over the same period to reach an average of €1,554/m2.
Tourism meccas like Benidorm and Denia have also continued their growth trajectory, reaching average prices of €2,868/m² and €2,864/m², respectively.
Meanwhile Moraira, another British expat hotspot, remains one of the most expensive areas in Alicante province, with an average home price of €3,956/m2 (10.7% growth year-on-year).
