44 new developments in Alicante Capital

In the city of Alicante, the supply of new-build properties is one of the most outstanding in Spain, mainly due to its good weather, beaches, and coves. In March of last year 2021, around 45 developments were counted in the capital. With a year-on-year increase of 2.5% and the average price per square meter standing at €1,450/m² in the first quarter of 2022, which is 1.5% higher than the price recorded in the same period of 2021, according to Tinsa.

In March 2022, the value is €1,475/m², with the most expensive area being Playa de San Juan-Cabo, with prices exceeding €2,100/m². It is followed by the city center at €2,010/m², the Parque Avenidas Vistahermosa and San Blas area, with almost €1,600/m². On the other hand, the price in Benalua-Florida-San Gabriel is a little over €1,300/m². The most economical area is Virgen del Remedio-Juan XXIII, where the average price per square meter is around €680.

What areas have the highest number of new developments under construction?

Currently, in the city of Alicante, the largest volume of new developments is located in districts 3 and 4. Specifically, new construction in the neighbourhoods of Benalua, Babel, La Florida, Paus, Alipark, Ciudad de Asís, and San Blas belonging to District 3 and having around 13 projects. The areas with new developments such as Playa San Juan, Vistahermosa, Alicante Golf, La Albufera, and Cabo de las Huertas belonging to District 4, have around 17 projects.

In which coastal areas are the main developments located?

The most notable new developments in the coastal area are located in Playa San Juan, La Albufera, and Cabo de las Huertas.

What influences the price of new construction in the city of Alicante?

In the development of new construction in the city of Alicante, the price per square meter generally depends on supply and demand. The type of housing, square meters, characteristics, materials, quality, finishes, location, orientation, common facilities and services, as well as the height (the cost of a flat increases by floor between €3,000 and €6,000 according to Tinsa), are factors that determine and influence the value of the properties.

Most properties are part of urbanizations equipped with common services such as a pool, gardens, solarium, and sports facilities. This requires a special mention, as buying a house or apartment in a residential complex is not the same as buying an independent house or villa, with the cost being community-based in the former and private and personal in the latter. The economic and labour situation of the city, population density, foreign investment, and tourism in the area are components that also affect the price.

If you are interested in buying a new property in the city of Alicante, one of the main recommendations is to make the transaction when the construction is in the blueprint phase, before the building starts. If not possible, it is advisable to do it in the early stages of construction. This is because, in this way, there are several additional advantages, such as personalization of the property, choosing the floor that is most interesting in terms of height and orientation, as well as several payment alternatives. In addition, the final price can be reduced by up to 30%.

How is the new-build property market in the city of Alicante?

The new construction real estate market in the city of Alicante is evolving positively. In the first quarter of 2022, the average price of housing is 1.5% higher than last year, when the evolution for the same period showed an increase of 2.8%. In the last quarter of 2020, the average value per square meter was around €1,400. In the same period of 2021, it was about €1,450/m², and in the first quarter of this year (2022), the average cost is close to €1,480/m². The annual increase was 5.1% and 3.8% in the last quarter of 2020 and 2021 respectively, and currently, it is 2.5%. Alicante recorded 1,806 property transactions from June to September 2021. The new construction offerings mostly consist of 2 or 3-bedroom homes with a terrace, penthouses, and detached houses.

In general, purchase costs range from €58,500 in the city to €575,000 in beach areas and districts with excellent transport connections to the city centre. Currently, it is one of the municipalities with the most interesting new construction offerings on the Costa Blanca.

What is the relevance of buying new build flats compared to second-hand properties in the city of Alicante?

The real estate market is on the rise in the city of Alicante, especially in areas with high tourism and foreign demand, such as Playa San Juan, Cabo de las Huertas, and La Albufera.

Newly built homes offer a guarantee of purchase compared to second-hand ones, as they offer the possibility of customization, security of quality and warranty, as well as reduced costs and energy efficiency. The development of facilities and common areas, including a swimming pool, green areas, playground, tennis and paddle courts, and a gym in some cases, are features that have been emphasized in recent developments.

Where to buy new developments in the city of Alicante?

In the city of Alicante, the largest area of ​​expansion in new construction promotions is in the La Florida, Babel, Benalua, and San Gabriel neighborhoods; spacious and peaceful neighborhoods just a few minutes from the city center, close to the beach, with green areas and all kinds of services.

A house of about 110 square meters in Benalua with sea views is around 290,500 euros. In this same area, a 46 square meter studio can cost 203,500 euros. It is also possible to acquire a property with a price of 185,000 euros and 85 square meters in this neighborhood. In the Babel area, a house of about 130 square meters in an urbanization has a price of 253,200 euros.

For around 201,000 euros, a house of 89 square meters can be acquired in an urbanization in the Paus or Pau area in the San Blas area.

In Parque Avenidas and Vistahermosa, a home can cost between 168,000 euros and 142,000 euros with 83 square meters or 120 square meters, respectively.

In Playa San Juan, a property in a beachfront urbanization can cost around 355,000 euros or 399,000 euros. An exclusive independent villa in this area, specifically in Alicante Golf, with 185 square meters, a private pool, and garden area, has a price of 660,000 euros.

In the heart of the city, on Avenida Alfonso el Sabio, very close to the Rambla, a house of 186 square meters is around 324,340 euros. Close to Oscar Esplá, near Maisonnave, a 132 square meter apartment costs 240,000 euros. It is possible to acquire a 61 square meter apartment in the city center for 150,500 euros. One of the most affordable areas is the Los Angeles neighborhood, where a property can be acquired from 99,000 euros.