New houses and developments in Benidorm
New developments in Benidorm
Currently, Benidorm is one of the municipalities with offers of new developments on the Costa Blanca, with around 10 new construction developments available. According to the latest market data released by the Ministry of Transport, Mobility, and Urban Agenda, the value of the square meter has increased by 5.7% in the last year, reaching 2,230 euros.
The average price per square meter in the five most prominent districts is as follows:
- City Center: over 1,700 €/m².
- Playa de Poniente: over 2,600 €/m².
- Playa de Levante: about 2,800 €/m².
- Poble de Ponent: just over 1,900 €/m².
- Poble de Llevant: around 2,100 €/m².
What areas have the highest number of new construction properties?
Currently, the districts/neighbourhoods with the highest volume of new development are the areas of Levante and Poniente. Speaking of Benidorm, we cannot forget about the more than 10 new developments in Finestrat, a neighbouring municipality that has seen a lot of urbanization in recent years. On the other side, there is El Albir with new construction offerings in the town or beach areas.
What influences the price of new construction in the city of Benidorm?
In addition to the general factor that determines the price per square meter of new construction, such as supply and demand, there are two very important elements that influence the price of new properties in the city of Benidorm: foreign investment and tourism. In fact, Benidorm attracts 19% of the tourism in the province of Alicante, with more than one and a half million visitors each year, almost 40% of whom are foreigners. These figures, combined with the fact that Benidorm is one of the main destinations in the Mediterranean, affect the final price of new properties.
As for the properties themselves, the size, location, quality, and building materials all make a difference in price. The extra cost can be found in the common areas, such as swimming pools, gyms, outdoor courts, and good access to the urbanization or the beach. Development in the mountains or by the sea is not the same as a block of houses in the city centre.
What is the new construction real estate market like in Benidorm?
Buying a new property in Benidorm offers several advantages over purchasing a second-hand house. Firstly, new properties come with the latest designs and features, offering a more modern and comfortable living experience. Secondly, they usually come equipped with the latest technology and energy-efficient systems, which can help reduce utility bills and provide a more sustainable living environment. Additionally, buying new property can also offer more flexibility in terms of customization and personalization.
Furthermore, buying a new property can offer greater peace of mind, as there are usually warranties and guarantees offered by the developer, protecting the buyer from potential defects or issues. In contrast, older properties may have hidden problems that may not be apparent at first glance, which can lead to unexpected expenses in the future.
Finally, investing in a new property can offer a greater return on investment, as the value of the property is likely to appreciate over time, especially in a popular and growing location like Benidorm. Overall, buying a new property in Benidorm can offer many benefits and maybe a smart investment for those looking for a comfortable, modern, and sustainable living experience.
What is the importance of buying new properties compared to second-hand houses in the city of Benidorm?
The supply of new properties continues to grow due to strong demand, and so does their acquisition. Data collected by the Ministry of Transport, Mobility, and Urban Agenda is very positive, showing that transactions have tripled in a couple of years.
In 2019, a total of 85 new properties were purchased, 114 in 2020, and 342 in 2021. Despite the increase in acquisitions, prices have remained relatively stable. According to the same Ministry, the average value of these properties was €350,000 in 2019, €420,000 in 2020, and €380,000 in 2021.
These figures confirm the great success of new constructions, favoured by local residents, foreigners, and investors, being one of the top options in the real estate sector.
Where to buy new development in the city of Benidorm?
In the city of skyscrapers, new construction properties are located in three districts facing the sea:
Playa de Poniente. This area has 50% of the new construction supply. Prices range from 343,000 euros for a 1-bedroom, 70 square meter apartment, to 455,000 euros for a 2-bedroom, 95 square meter property, to the most expensive property on Playa de Poniente for 969,000 euros with 208 square meters, garage, terrace, and 4 bedrooms with sea views.
Pueblo de Levante has both the most expensive and the most affordable properties. The most expensive is a complex of villas with private security, a garage, pool, and terrace in each of the semi-detached houses. Prices range from 925,000 euros for 4 bedrooms and 320 square meters, to 1,095,000 euros for 5 bedrooms and 332 square meters. As for the most affordable, there is a studio without a terrace of 46 square meters for 102,000 euros and a 1-bedroom apartment of 56 square meters for 121,000 euros.
The average price of the city is found in the area of Playa de Levante. In this area, properties have a starting price of 435,000 up to 560,000 euros. These are a set of 150 square meter apartments in a 20-story building, with 3 bedrooms and a terrace.