Alicante, in the Valencian Community Province of Spain, has a thriving and competitive real estate market. The province's capitol city's proximity to both the fabulous and beautiful Costa Blanca as well as the convenient Alicante airport makes this area very popular and successful. The airport is one of the busiest and well traveled in the area. It has many flights to several locations.
Alicante has become a driving force in the second-home market as well. Many Northern Europeans have purchased vacation homes in the area and again the airport makes this possible. Both the affordability of the flights and multiple destinations make frequent travel possible.
Rebuilding, refurbishing, updating and remodeling have all been the buzz-words for the Alicante market in recent years and the transformation has paid off handsomely, in the aesthetics of the area and the value of the property. The size of Alicante, the second largest in the Valencian Province and eighth largest metropolitan area in Spain, makes it possible to have many happy residents.
Many find that their experiences with investments in Alicante real estate have been very positive. The upward trend in market prices and the expected continuation of increased value makes this area a typically wise investment choice. It is also very simple for people from foreign countries to obtain a mortgage in Spain, another bonus for those in other countries wishing to purchase property here.
For someone from another country to obtain a mortgage they must obtain an NIE from the Spanish government. This is a registration number that allows foreign residents who would like to buy property in Spain to sign legal documents in the country. This number is made available through the Spanish Consulate in the person's country of residence.
Many who purchase property in Alicante do so with the idea of using the home, condo, or apartment as a rental investment as well as a personal use vacation home. The money earned on renting the place to other visitors brings in money to pay the mortgage. Because Alicante is such a popular holiday destination, particularly in the summer months, keeping the property rented out is usually not a terrible challenge. Properties with extra activities, like in Benidorm or Torrevieja makes it even easier to rent. Benidorm has four very popular theme parks and Torrevieja has famous saltwater lake baths. The best idea of course is to be able to afford not to rent out the property and still be able to cover the mortgage personally and keep the rental money to pay the mortgage off quicker.
When purchasing a second home in Alicante, a prudent decision to aid in the research and contractual management would be to hire an attorney. Also, it is not necessarily in anyone's best interest to hire their attorney through their real estate agent. An independent attorney who is guaranteed to be working solely for your benefit is what is needed in this situation.
Another important part of buying real estate in Spain is to always keep in mind that there is a thirty-five percent capital gains tax for non-residents of Spain. This makes long term investments in property here the much better choice.
Alicante has become a driving force in the second-home market as well. Many Northern Europeans have purchased vacation homes in the area and again the airport makes this possible. Both the affordability of the flights and multiple destinations make frequent travel possible.
Rebuilding, refurbishing, updating and remodeling have all been the buzz-words for the Alicante market in recent years and the transformation has paid off handsomely, in the aesthetics of the area and the value of the property. The size of Alicante, the second largest in the Valencian Province and eighth largest metropolitan area in Spain, makes it possible to have many happy residents.
Many find that their experiences with investments in Alicante real estate have been very positive. The upward trend in market prices and the expected continuation of increased value makes this area a typically wise investment choice. It is also very simple for people from foreign countries to obtain a mortgage in Spain, another bonus for those in other countries wishing to purchase property here.
For someone from another country to obtain a mortgage they must obtain an NIE from the Spanish government. This is a registration number that allows foreign residents who would like to buy property in Spain to sign legal documents in the country. This number is made available through the Spanish Consulate in the person's country of residence.
Many who purchase property in Alicante do so with the idea of using the home, condo, or apartment as a rental investment as well as a personal use vacation home. The money earned on renting the place to other visitors brings in money to pay the mortgage. Because Alicante is such a popular holiday destination, particularly in the summer months, keeping the property rented out is usually not a terrible challenge. Properties with extra activities, like in Benidorm or Torrevieja makes it even easier to rent. Benidorm has four very popular theme parks and Torrevieja has famous saltwater lake baths. The best idea of course is to be able to afford not to rent out the property and still be able to cover the mortgage personally and keep the rental money to pay the mortgage off quicker.
When purchasing a second home in Alicante, a prudent decision to aid in the research and contractual management would be to hire an attorney. Also, it is not necessarily in anyone's best interest to hire their attorney through their real estate agent. An independent attorney who is guaranteed to be working solely for your benefit is what is needed in this situation.
Another important part of buying real estate in Spain is to always keep in mind that there is a thirty-five percent capital gains tax for non-residents of Spain. This makes long term investments in property here the much better choice.
About the Author:
John Bakers often makes long articles on issues relating to property to rent alicante. His comments on alicante property and property to rent alicante can be found on his website .
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