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2022 was a good year for the property market on the Costa Blanca with average price increases of over 10%

Despite the many imponderables in 2022, there were still significant price increases of over 10% in some cases. In Moraira, prices rose by approx. 11% and reached an average price of 3,500 €/m², in 2021 3,000 €/m² was actually the magic limit.
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Despite the many imponderables in 2022, there were still significant price increases of over 10% in some cases. In Moraira, prices rose by approx. 11% and reached an average price of 3,500 €/m², in 2021 3,000 €/m² was actually the magic limit.

However, for the first time in years there have been price decreases from November to December amounting to -0.3% from €3,535/m² in November and €3,523/m² in December. This could be the impact of the sharp rise in interest rates. For loans with an expiry of 70% in the amount of €300-400,000 with a term of 30 years (fixed), 4% interest is now charged. In this case, the debt service would be in the range of €1,300 – €1,800 per month. Areas like Denia, Calpe or Altea continue to have slight positive increasing growth rates of 1.8%, 3.4% and 0.7% respectively. In the less sought after areas like Gata de Gorgos prices are also falling. Therefore, this could be a trend for 2023 to watch.

Conclusion:

2022 was a strong year especially in Q1-2 and has clearly lost momentum compared to Q4 and there are first signs of falling prices and a market correction. With expectations of another rate hike in Q1 2023 to reduce inflation, the market will continue to lose momentum. Only buyers with strong capital will access quickly and also at higher prices. For 2023 you should see an increase in offers. As of today, January 1st, 2023, 13,977 properties are for sale in the Marina Alta at idealsta.

Sources:

https://www.idealista.com/venta-viviendas/alicante/marina-alta/?xtor=SEC-246-GOO-[com-ES-DSA-venta]-[482893956426]-S-[]&gclid=CjwKCAiA-8SdBhBGEiwAWdgtcN4iMjW9OIVwZY7c-Q8xthWa3kdeykB1E_zvd609JJHa1Rbwge1wuRoCMBQQAvD_BwE

https://www.idealista.com/sala-de-prensa/informes-precio-vivienda/venta/comunitat-valenciana/alicante-alacant/

Costa Blanca: A paradise for snorkeling tours – Where to find the best spots

Discover the best spots to snorkel and dive in the Marina Alta.
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Our top snorkeling spots

Cala el Portet

Cala el Portet is located in Moraira and is the only beach with a Blue Flag in the municipality. The beach is about 300 meters long and about 10-15 meters wide . It is protected by the Cap d’Or and is located in a natural environment of great beauty. Located in a picturesque shell-shaped bay offering crystal clear waters. The very shallow water with vastsegrass meadows is Ideal for snorkeling and diving. As you can see in our video on the right, there are plenty fish to be observed.

Cala el Portixolet

Located in Moraira on the way to El Portet can be reached via the Club Náutico or a staircase on Avenida del Portet. The bay is not very crowded and has a spectacular bottom with rocks and a small underwater cave. Snorkelers get their money’s worth here.

Cala Baladrar

Coming from Moraira driving towards Calpe on the Costal road just after passing San Jaime you find the hidden rocky beach Baladrar. Divided into two areas by a rocky landscape, Cala Baladrar in Benissa impresses with its extraordinary fauna and crystal-clear water and makes every snorkeler’s heart beat faster.

Cala Blanca

Cala Blanca located in Jávea, at the end of the pedestrian path behind Avenida de Ultramar, offers a natural paradise with a shallow seabed, where seagrass meadows and rocks provide a habitat for varied fauna. Snorkelers will definitely get their money’s worth here.

Las marinas

Located in Dénia in las Marinas near the Hotel Los Angeles is one of the largest seagrass meadows on the Costa Blanca, which provides a habitat for many sea creatures. A true paradise for snorkeling and diving in Dénia.

The real estate market on the Costa Blanca is on the rise

Even with the war in the Ukraine, the high inflation, the coronavirus pandemic and increased energy costs, the Costa Blanca area has seen a strong first half year in 2022. Especially foreigners are returning to Spain and looking to buy which has led to price increases among the Costa Blanca.
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Even with the war in the Ukraine, the high inflation, the coronavirus pandemic and increased energy costs, the Costa Blanca area has seen a strong first half year in 2022. Especially foreigners are returning to Spain and looking to buy which has led to price increases among the Costa Blanca. It is notable that currently the supply of properties in the lower budget around 300.000 – 400.000 € has significantly decreased.  The great demand for a property in Spain is partly due to the gap in property prices, averaging about 1.825 €/ sqm and in Germany about 3.304 € /sqm. The group of buyers has become younger. It used to be people in their late 50s who bought a holiday home with a view to retirement and used it themselves and rented it out for a while. Those are still there, but they’ve been joined by commuters, younger families looking for a vacation home, and many people buying property as an investment to rent out. 

In the second half of 2021, a foreigner was involved in almost one in five real estate transactions in Spain – be it purchase or sale. The General Council of Notaries put the share at 18.6 percent, which corresponds to an increase of 42 percent compared to the same period last year and roughly the shares of the years 2012 to 2019. As usual, the British are ahead with 11.8 percent, followed by the Germans with 10.4 percent, followed by the French with 8.3 percent. The increases compared to the same period last year, which was characterized by the coronavirus pandemic, are interesting: Dutch at 104.1 percent, Irish at 99.3 percent, German: 84.9 percent.

The optimism in the Spanish real estate market is no coincidence. Last year, 565,000 real estate transactions were carried out with a price increase of 6.4 percent, more than at any time since 2007 shortly before the real estate bubble burst.

The construction industry focuses on luxury tourism with most potential in Moraira, Jávea and Dénia. There has been a significant increase of building and sale activity in the high-end segment with Ibizan Style properties. Wealthy top tier clients have discovered the beauty and easy access of the Costa Blanca while having reasonable prices compared to Mallorca or Ibiza. (Source: https://www.costanachrichten.com/spanien/politik-wirtschaft/spanien-immobilien-ferienhaus-billig-boom-costa-blanca-makler-schaich-hannemann-kueste-auslaender-91543137.html  ) 

Price Development

According to idealista property prices in Moraira have increased by 9,0% on year-to-year basis up to 3.360 €/m2. One of the most if not the most expensive areas on the Costa Blanca is El Portet  / Pla del Mar with average property price close to 4.000 €/m2. Since 2011 average property prices in Moraira have grown from as low as 2.103 €/m2 which means property prices have increased by 60% in just over 10 years.  Similar growth trends can be observed in Javea. Here the property prices have increased by 12,3% on year-to-year basis up to 2.788 €/m2. Calpe area has experienced an increase of 13,3% in property prices up to 2.469 €/m2.  Compared to Moraira the surrounding areas have significant price level gap, leaving buyers opportunities to invest. (Source: https://www.idealista.com/sala-de-prensa/informes-precio-vivienda/venta/comunitat-valenciana/alicante-alacant/altea/ )

Forecast / Trend

With recent developments in interest rates Caixa Bank charges right now interest rates above 3% with a possibility that we see rates around 4% by the end oy the year, it is very likely that purchase in the long run will decline, leaving only buyers with sufficient equity.  This in combination with the on-going war, inflation and may be a return of the coronavirus pandemic in Q3/Q4 2022 should eventually lead to a cool down of the property market on the Costa Blanca. This is in accordance with the predictions from the Spanish banking sector. However, Moraira area as such, has a micro market which is most likely to hold its high price levels seen in the past with the finance crisis 2008/2009.

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