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Garage Torrevieja

6.000 €
  • Reference
    1-2212
  • Surface
    16 mts
News
Very Attractive to invest in the province of Alicante
 26

  OCT

Very Attractive to invest in the province of Alicante

Alicante has become one of the most attractive areas of the country for small investors looking for a way to take advantage of their savings in brick. The relatively affordable prices that can still be found in many popular neighborhoods mean that the profitability of renting out the property is high, which is why this type of operation has become one of the factors that stimulates the market.

Thus, in the specific case of the city of Alicante, up to 32.3% of the purchases that are registered are carried out by investors, which is five points more than the national average

And it's not just local savers. "At the Alicante offices we receive requests from delegations from Madrid, Castilla-La Mancha and many other areas that have clients who want to buy flats in Alicante as an investment."

The reason is none other than the high profitability that can be obtained. Thus, those responsible for Tecnocasa have given the example of the average home that its franchises sell in the capital of the province, located mainly in popular neighborhoods. An 83-square-meter home for which the buyer pays around 69,000 euros and for which he can currently claim around 500 euros of monthly rent on the market, which is equivalent to an annual gross return of 8.7%.
Some figures that far exceed the interest on public debt or the remuneration offered by current accounts or term deposits, and, of course, are also more attractive than the Stock Market, if one takes into account that the Ibex 35 has fallen by 13.8% in the last year. Thus, the percentage of investors over total operations has increased by three points since last year.

With these figures, what is also clear, for those who are considering the dilemma, is that, for the time being, it is still much more attractive to buy than to rent, as long as the necessary resources are available. Thus, a buyer who acquires the same typical home for 69,000 euros, may apply for a mortgage of up to 55,200 euros, for which he will pay a monthly installment of 248 euros, with a rate of 2.5% and a repayment period of 25 years. An amount that barely represents half the cost of renting that same home

The prospects of price recovery have caused customers to tend to overvalue even more than usual the price they can get for their properties when they put them on the market. Thus, on average, owners usually calculate that they will get 21% more from the sale than the price set by the market.
In this sense, another of the trends they observe is that the ranges in which the negotiations between buyer and seller move are widening. Specifically, if last year the average discount that was accepted was around 9.2% on the initially marked price, in 2022 the operations are closing with a discount of around 11.1%. Of course, in any case the final price paid is higher, since the square meter of used housing has become more expensive by 4.5%, according to company data.
Regarding the profile of clients in the city of Alicante, it is a person who buys their first home (66.2%), pays in cash (60%), is between 45 and 54 years old (44.6%), is of Spanish nationality (61.5%), has an indefinite employment contract (61%) and secondary education (42.2%).
A very dynamic market
On the other hand, the dynamism of the real estate market of the Valencian Community and the province of Alicante, in relation to the rest of the country. A comparison that makes clear the higher volume of transactions recorded in the area. Thus, while at the national level there are 2.4 transactions for the sale of second-hand houses for every hundred existing homes, in the case of the Valencian Community the figure rises to 2.8 and in Alicante it shoots up to 3.12 .

In new construction, the national average is 0.28 sales per 100 homes. The Valencian Community (0.32) is once again above the national average in this case. Alicante is, once again, the most dynamic Valencian province, now, in new construction (0.40). Finally, by towns in Alicante, in terms of dynamism in new construction, Pilar de la Horadada (1.10), Orihuela (0.90) and El Campello (0.80) stand out.

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