New houses and developments in Torrevieja

New developments in Torrevieja

Currently, it is one of the municipalities with offers of new developments on the Costa Blanca, and Torrevieja has a range of around 20 new construction developments, including those already completed and those currently under construction. According to the latest market data from the Ministry of Transport, Mobility and Urban Agenda, the value of the square meter has risen by 15% during the last year, to over 1,800 euros per square meter.

The average prices per square meter in the 5 most prominent districts are:

• La Mata, almost 2,000 €/m².
• Centro, around 1,500 €/m².
• Los Náufragos, just over 1,700 €/m².
• Nueva Torrevieja, around 1,550 €/m².
• Los Balcones, which exceeds 2,300 €/m².

Which areas of Torrevieja have the largest number of homes under construction?

Currently, the districts or neighbourhoods with the highest volume of new construction developments are Los Balcones-Los Altos del Edén, La Mata, and Los Náufragos. It is worth noting that almost all of them are located near the coast.

What factors influence the value of new houses in Torrevieja?

In general terms, the supply and demand of developments is one of the most influential external factors in determining the final price of these properties. In addition, other elements such as foreign investment, proximity to the provincial capital, or the economic and social situation of the city also play a role. Specifically, in this city bathed by the Mediterranean, there is a key factor in determining the price: tourism, especially international tourism.

It is one of the must-visit summer destinations, both for Spaniards and foreigners. According to the National Institute of Statistics (INE), last year it was visited by more than 700,000 national residents and 270,000 of international origin. Topped by the French and Belgians, followed by British, Swedes, and Germans.

The characteristics of the housing, location, size, orientation, as well as quality of the materials used in construction, are what make the difference in terms of the value of the houses. It is not the same to acquire a property in the centre of the town or on the beachfront, in one of the most famous areas: La Mata.

How is the new build real estate market in Torrevieja?

Its offering is one of the widest in the province of Alicante. The year-on-year increase in national and international tourism figures makes the real estate sector in the area one of the most active. Although the sale of new homes has decreased due to the generalized crisis, they are still above the national average. According to data collected by the Ministry of Transport, Mobility, and Urban Agenda, in 2019 transactions for this type of property were 797, 436 in 2020, and 500 in 2021.

Despite social and economic changes, prices have remained stable. As the same Ministry indicates, in 2019 the average value of these homes was 250,000 euros, 220,000 in 2020, and 230,000 euros in 2021.

These figures confirm that Torrevieja remains one of the favourite destinations and one of the main options for foreign and Spanish investors. Especially for residents of the Community of Madrid, who account for 40% of annual visits.

What is the importance of buying new-build flats compared to second-hand houses in the city of Torrevieja?

The guarantee of having a brand-new home, the ability to make modifications, the use of new construction materials, and the inclusion of renewable energy sources in the latest developments are the main reasons to choose new-build properties over second-hand ones. Additionally, it is worth highlighting the highly competitive prices currently available, especially if purchased off-plan or with special promotions from the developer or real estate agency. In some cases, these price reductions can represent up to 20-30% of the final price.

This option is highly sought after by buyers from outside the city, who make an initial visit to the show home and then complete the process remotely. They return to the property to find it ready to move in. Furthermore, these properties are located in the best and most privileged areas of the city.

The major difference between new-build and second-hand properties, and what makes the former much superior, are the communal areas. In the latest residential developments, flats come with a garage and storage room as standard, as well as outdoor sports facilities, a swimming pool, or a children's playground.

Where to buy new construction properties in the city of Torrevieja?

These types of homes are mainly located in three well-defined areas: Los Balcones, which has the most affordable offer in the city. They are community residential complexes that share a pool and common areas. Each property has sea views and a terrace, while the garage is an additional option to hire. Prices range from 179,000 euros for 84 m² to 275,000 euros for a 170 m² apartment.

In Los Náufragos, there are properties with a medium price range. In this area, you can buy a seafront apartment of 90 square meters for 240,000 euros, a 95 m² apartment with a terrace and garage included for 399,000 euros, and a slightly larger apartment of 99 square meters for 410,000 euros. In La Mata, the most expensive houses are located. Prices start from 500,000 euros for a 3-bedroom, 110-square-meter apartment, and up to 1,000,000 euros for a semi-detached villa with a private pool, garage, and terrace. On average, they have 4 bedrooms and 320 square meters.