With a rich Mediterranean coastline, the
Costa Blanca region has many activities attracting locals and tourists alike
from all over the world. It offers more than just yearly sunshine, such as
beautiful beaches, lively nightlife, and several nautical activities.
Here, we will talk about investing in
property for renovation in Altea, explaining whether it is a valuable decision.
In order to get a bit closer to Costa Blanca real estate market, below we will
provide thorough information on why buy renovated Spanish properties. So, let’s
Altea is a magnificent region, presenting a
perfect combination of modernism and traditionalism. The coastline offers
pleasing walks along the seafront where you will explore cafes and restaurants
all over. It is populated with whitewashed houses, further accentuates the
beauty of the fishing village, and is considered the best-preserved city on the
Valencian coast. The place attracts many locals and tourists to invest in
properties closer to the magnificent seafront and basic amenities.
THE PRESENT SITUATION OF THE REAL ESTATE MARKET IN ALTEA?
Whether you’re planning to purchase a home
for retirement, a family second home, or acquisition for rental purposes, the
investment in Altea can be a viable choice because prices per sq. m will remain
fascinating. Its natural historical and modern landscapes are attracting
investors from all over the world and even Spain itself. The best part is Altea
is closer to Benidorm and Alicante, accessible via road and motorway
Altea property market offers a diversified
choice with many old dwellings that can be upgraded to perfectly meet the needs
of future investors.
IN RESALE PROPERTY?
Nowadays, more foreign buyers are on the
lookout for resale properties in Altea for a holiday or rental purposes.
Whatever the reason, most of the time, these properties require renovation
work. There is a remarkable economic advantage of buying a resale, such as
improving energy performance, interesting capital gain, and affordable housing.
Renovation allows a buyer to modify the
property depending on their needs, desires, and taste preferences. The property
can be personalised so that owner feels like being at home. It allows you to
combine a modern way of living while keeping the old charm alive by creating
spaces generally found in new buildings such as an open kitchen.
The renovation of property can also increase
the possibility of rental purposes. Lastly, old housing predominates on the
property market and gives prime locations in the centre of the city or on the
FOR RENOVATION – 100 SQ. M APARTMENT IN ALTEA
In Altea, a 100 m2 apartment i.e., 3-bedroom
space could take an average renovation cost of 110 000€ at the time of
purchase. After renovation and upgrade, the value of the same property will get
double and reach a good selling price.
The average budget for renovation varies
depending on several factors, such as the area to be renovated, materials used,
and parts to be rehabilitated. Additionally, you should also consider the
average duration of renovation work.
Carrying out property investment can be
challenging, especially for new investors. Our professional team of real estate
agents at Hamiltons of London is experienced in site renovation and the Spanish
property market, making your procedure straightforward and hassle-free. Feel
free to get in touch with us for further assistance.
3 Bedroom Plot in Calpe, Spain
1 Bedroom Apartment in Calpe, Spain
5 Bedroom Villa in Calpe, Spain
If you wish to receive more information, do not hesitate to contact us.
Phone: +34 966 397 944