Elche is located in eastern Spain, in the Costa Blanca region. The city has more than 230 thousand inhabitants. It is not a typical seaside resort, but it still has something to offer tourists and investors beyond the beach and sea.
The city itself is famous for its interesting architecture, which it owes to the Ibers, Phoenicians, Romans and Moors. It is here that the famous lady of Elche was found - an outstanding Iberian sculpture. The exhibition can be admired at the National Archaeological Museum in Madrid. Tourists may enjoy the rich cultural life as much as they like, shop in many shops and enjoy the amazing Spanish cuisine in the local restaurants. In addition, the sea is only half an hour away by car.
Best things to do in Elche
Elche is the largest date palm plantation in Europe. With number of 200,000 - 300,000 palm trees, Elche has more palm trees than people.
In Elche there is an Arab palm grove, which has been on the UNESCO World Heritage List since 2000. Date palms were grown in Elche as early as the 5th century BC and were founded by the Romans. However, the appearance and complex irrigation system is the work of the Arabs. Everything was created in the 10th century - in this period the Muslim city of Elche was born. The palm grove is an oasis – just as the desert oasis, but also serves as an example of Arab farming methods. It is a very unique place in Europe.
Characteristics of the property market in Elche
How much do properties in Elche cost?
In Elche you will find many tourist properties at attractive prices. Property prices depend on the attractiveness of the location and the availability of the most popular types of properties. The most expensive properties can be found near the coast and in the city centre. Prices also depend on whether you are buying a detached property or an apartment in a closed district. The price also depends on the proximity of public transport and availability of public facilities. However, regardless of whether you buy a property in the city centre or on the outskirts of the city, you will always have convenient access to the airport and the nearby tourist destinations.
Average price for properties in Elche:
Average price by square metre for Elche - 1,098 €
Average price for properties in Elche - 167,945€
Who buys properties in Elche?
Properties in Elche are bought by foreign investors seeking direct contact with nature and the Spanish tradition. The most famous showpiece of Elche are palm trees. Palms not only delight with their appearance, but also make the air clean and crisp. The sunny and very favourable Mediterranean climate combined with a unique landscape encourage thousands of tourists to spend their holidays here, and a large part of foreign visitors to settle permanently.
International buyers:
33 % United Kingdom
14 % Romania
6 % Germany
5 % Bulgaria
5 % Netherlands
5 % Italy
4 % France
4 % Belgium
Best areas for an investment
Surely the most popular among foreign investors are the locations near the sea and the coast. If you are planning to purchase a property that will be used for short-term holiday rentals, you will certainly get the biggest return on investment by buying an apartment, a flat or a house with a view of the sea and in vicinity of the beach.
Properties located in the vicinity of palm groves and in the city centre are also very popular. However, if you plan to settle in Elche choose a property well connected with public facilities. In addition, if you want to feel the typical Spanish atmosphere, you can take a look around the property located on the outskirts of the city. In these areas, the vast majority of the residents are native Spaniards.
127,704 € Elche
Elche Ciudad
160,988 € Elche
Torrellano
184,830 € Elche
Arenales del Sol
187,922 € Elche
Peña de Las Águilas
200,160 € Elche
Las Bayas-Asprillas
201,455 € Elche
El Altet
205,079 € Elche
La Hoya-Daimes-El Derramador
226,112 € Elche
Alzabares
Total numer of housing property transactions in Elche
1st quarter 2018 702
2nd quarter 2018 827
3rd quarter 2018 692
4th quarter 2018 807
1st quarter 2019 739
2nd quarter 2019 759
Prospects for the property market in Elche
As long as Elche will delight people with the friendly Mediterranean climate and the beauty of palm parks, it will be a very attractive place, enjoying great interest of tourists and investors. All prospects for the property market in the coming years are very positive and the number of transactions is growing constantly growing. If you decide to buy a property in an attractive tourist location, you can count on a quick return on investment. When buying a property, you always gain an additional benefit, which is the possibility of living in your own house or apartment located in the sunny Costa Blanca.
It is predicted that properties located on the Spanish coast and in tourist centres will enjoy the greatest interest. The high rate of return on investment of up to 10.5% (data from the Spanish Central Bank) should be a big incentive for foreign investors.
Duplex for sale
Many people dream of their own single-family house, but not everyone may afford a detached property. In such a situation, a duplex house or an apartment is a perfect alternative. They are ground floor or two-level apartments. In Spain, duplexes are sometimes located in prestigious apartment buildings with access to various amenities. However, this does not mean that this type of property is beyond the reach of investors with a smaller budget. Currently, you may also find very interesting offers for duplexes located in more intimate buildings.
How do duplexes in Spain look? In such an apartment, the division into the living and sleeping part is very visible. On the lower floor, there is usually a living area with a kitchen and a living room. The first floor is a night zone consisting of bedrooms and wardrobes for the use of the household members. In addition, such a property usually includes two bathrooms - one downstairs and one upstairs. Duplexes also have balconies or large roof terraces, which definitely increase the attractiveness of the property. Among the duplex offers in Spain, depending on your needs, we can find premises with two, three or even four bedrooms. Of course, you have to reckon with the fact that a larger area of the property means its higher price.
Duplex Amenities
Duplexes are a great solution for people looking for a comfortable property with access to various amenities – both, inside and outside. The Spanish property market also offers comfortable, fully furnished duplexes, ready to move in. Duplex offers in Spain very often include:
A swimming pool,
A garden/patio
Air Conditioning
Furnishings
A car park
A balcony/terrace
Modern Duplex with wide range of amenities
How much do duplexes in Spain cost?
The multitude of offers on the Spanish property market means that one may easily find a house or an apartment, tailored to their needs, preferences and financial possibilities. The price of duplexes is primarily influenced by the following factors: the area, location and available amenities.
Average value of property transactions of the free housing market in Spain
1st quarter 2018 145 297 €
2nd quarter 2018 149 582,4 €
3rd quarter 2018 152 095,1 €
4th quarter 2018 153 179,7 €
1st quarter 2019 152 023,4 €
2nd quarter 2019 154 487,8 €
Who buys duplexes in Spain?
In the recent years, Spain has become an extremely attractive place to buy a property (not only for native investors). It happens very often that foreigners decide to allocate their savings in properties – it is estimated that the transactions of foreigners have constituted ca. 13% of all sales in 2018. Spanish properties are very popular especially among investors from Great Britain, France, the USA and Scandinavia.
Average value of property transactions of foreigners on the open-market housing in 2nd quarter 2019 in Spain
New housing – 257 460,2 €
Second hand housing – 157 209,7 €
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