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Benidorm is a small city on the Mediterranean coast, highly popular among tourists. The fast pace of tourism development resulted in lots of multi-storey buildings, which offer mesmerizing views. You can choose between the old and new apartments, with fewer house options. In this post, we overview the options, prices, and advantages of buying apartments in Benidorm.

Overview of the real estate market

The old buildings were built around 30 years ago, ranging from 20 to 30 floors. They don’t come with modern features, such as windows with UV protection or energy-saving technologies. These buildings are commonly used for vacations, so proximity to the sea is essential when we talk about old apartments.

Rental potential and profitability

Benidorm is famous among tourists, so real estate investors are interested in the city’s rental potential. When you need a stable income, this is an excellent opportunity for you. Tourists prefer to rent private apartments for a few months’ stay, so hotels won’t satisfy their needs.

The CEO of Virto Property, Sergey Sinyugin, says:

“The profitability rate ranges from 6% to 8% for popular buildings. Additionally, the average cost is 1750 euros per square metre. Before you invest in real estate, you need to consider the available options.”

New apartments availability

When it comes to buying new apartments in Benidorm, there are four complexes available. Furthermore, we review each one with its pros and cons.

Sunset Waves

Sunset Waves is close to the beach. Knowing that it is only a few minutes away from Poniente beach, it is the right choice for renting. The building offers a wide range of amenities, which are planned out nicely. There are common areas, pools, and many recreational options. However, the additional facilities come with a hefty tag. Expect to pay a minimum of 305,000 euros plus taxes if you want to buy property here. You can find apartments with two, three, and four small bedrooms. Knowing that this is the only new building in the area, it would be the right choice for renting.

Alibulding Benidorm Beach

Alibulding Benidorm Beach offers apartments near the beach, which are anticipated to be finished in 2022. Apartments have the same layout but come with a private terrace. With a 20 square meter terrace and sea orientation, these apartments offer a mesmerizing Mediterranean sea view. Also, there are pools and common areas available. Expect to pay a minimum of 282,000 euros for a two-bedroom apartment.

INTEMPO

INTEMPO is another option to consider. It has the same small bedrooms as other apartments. Besides, almost every floor of the building can enjoy the views. However, the building has its history of ups and downs. Since the building process started ten years ago, the used technologies are outdated. Also, they plan to create a green area around the building and add American-style amenities.

Delfin Tower

Delfin Tower is a beautiful building located next to the famous beach. Like the towers, this one also has small bedrooms that range from 12 to 14 square meters. However, the gorgeous view will make it up for the small rooms. Also, the building has its approach to the beach, which makes it easily accessible.

A two-bedroom apartment here costs from 839,000 euros. The quality and luxury materials used during the process can justify the hefty price. On the other hand, this complex is energy efficient and environmentally friendly. One of the advantages of buying an apartment here is that the builder doesn’t have full access to the money you pay upfront. The funds are kept in an escrow system by the bank so that buyers are protected from fraud.