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.
Townhouses for sale
A townhouse is a residential building, which consists of one or a few levels. It is located in a compact building. In Spain, this type of property is maintained in a characteristic style, typical for the Mediterranean countries. Townhouses are especially popular in large cities - such buildings can be found mainly on their outskirts. Individual flats usually form a part of a larger complex, the so-called urbanisation. As part of an urbanisation, residents often have access to a shared patio, a spacious terrace or a swimming pool. The popular in Spain townhouses may have 1,2,3,4 and more bedrooms. Therefore, the properties available are of various sizes. Depending on your needs, you can choose a townhouse with an area of 70 m2, 80 m2, 100 m2 and even over 200 m2.
Townhouse Amenities
Among the townhouse property offers in the Costa Blanca, there are fully furnished apartments and apartments without equipment. Here are the amenities that this type of property may be equipped with.
A private balcony
A fitted kitchen
A garage
A swimming pool
Air conditioning
Panoramic view
Furnished, cosy townhouse in Spain
How much do townhouses in Spain cost?
Purchasing a flat in a townhouse in Spain is a great choice for people with a limited budget – e.g. property offers on the secondary market at a price not exceeding 100,000 euro! Of course, the cost of a townhouse may vary depending on its location and area. A townhouse in a luxurious, popular urbanisation may be much more expensive than the average price on the Spanish property market.
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 townhouses in Spain?
The affordable price of townhouses means that both, the Spanish and foreigners are willing to invest in them. Spanish properties have become very popular, especially among the British, Germans, Belgians and Romanians. Townhouses are perfect not only as a permanent place to live, but also an investment. If you decide to buy a flat in a townhouse, in a popular resort and you wish to use it for tourist rental, you can count on a relatively high return on investment in the following years.
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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