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Costa Blanca tourist officials have been promoting the region at London’s World Travel Market, focusing on strengthening ties with the UK — its largest foreign visitor base — and exploring opportunities in emerging markets like China, the U.S., and Eastern Europe.
Jose Mancebo, director of the Costa Blanca Tourist Board, noted that 35% of foreign tourism in Alicante province comes from the UK. In 2024, British visitors are staying longer (7.3 days on average) and spending more — up 14.1% from last year. Benidorm remains the top destination, attracting around 60% of British travellers.
The Costa Blanca delegation also met with China Travel Online, the largest holiday portal in Asia, as well as tour operators from the U.S., Poland, and Italy, opening new doors for international tourism.
Investment Opportunities
For property investors, this growing influx of international visitors presents a promising opportunity. With rising demand for short-term rentals and vacation homes, especially in The Costa Blanca, the region is set to see strong rental yields.
The expansion into new markets also signals potential long-term property value growth. As Costa Blanca becomes an increasingly popular destination, both for tourists and investors, now could be an ideal time to invest in property, with strong returns and future growth expected.
Posted by: Adam Hatton on 26/11/2024
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The City of Torrevieja is currently allocating significant funds for its La Purísima and Christmas festivities. The total budget, not including last-minute concert expenses, stands at 1,500,000 euros.
The Council has tendered nine public contracts for various items and events, such as costumes and accessories for the Queen of the Salt and her Ladies, costing 13,000 euros, and the Diego Ramirez Pastor Award Gala, priced at 17,477 euros. In addition, the lighting for festivities and Christmas alone costs close to half a million euros.
Additional expenses include organising and producing Christmas activities (200,000 euros), La Purísima patron saint festivities (208,373 euros), and assembling of the municipal nativity scene (80,000 euros). The Salt Queen Gala costs 46,451 euros, while the Three Kings Parade will set us back in the region of 237,000 euros.
A concert by Lori Meyers Granada, costing 160,000 euros, will also be approved by the Council soon. Other events, like Halloween and this weekend’s gastronomic festival, further add to the spending, with the latter budgeted at 69,271 euros.
The question arises as to whether this extensive outlay is justified, considering the current economic situation of many residents and the significant amounts of taxpayer money involved, or whether the Christmas spending of Torrevieja City Council is simply spiralling completely out of control.
Sorce: https://theleader.info/2024/11/16/is-torreviejas-christmas-spending-out-of-control/
Posted by: Lloyd Anton Kelly on 25/11/2024
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The Torrevieja Socialist Municipal Group is making waves with a bold motion aimed at transforming the way minor contracts are awarded in the city. If approved, this initiative will open the door for any interested party to compete for contracts related to works and services, shaking up the status quo and tackling cronyism head-on. Not only does this promise to boost local businesses, but it also aims to save taxpayers money in the process.
Presented at the council's plenary session, the motion seeks to shine a spotlight on the process of awarding minor contracts, ensuring transparency and inviting fair competition. By doing so, it hopes to drive down costs and encourage a diverse range of service providers to step up and offer their expertise.
Currently, minor contracts encompass projects with an estimated value of less than €40,000 for works and under €15,000 for supplies or services. However, the Socialist Group points to a troubling trend within the Torrevieja Council: a frequent misuse of these contracts. A 2023 report from the Council's Legal Department warns that minor contracts are being routinely awarded, raising concerns about potential "unwanted legal consequences.”
Evidence suggests that some of these contracts may border on fraud. The council has been known to invite companies with shared management or those far removed from the local area, often benefiting individuals linked to the ruling PP members. Alarmingly, there have even been instances where companies were hired for tasks that should fall under the council's own staff duties. A striking example is the €18,000 paid for an appraisal of the Los Romeros property, when the average market price is just around €2,000. This kind of inflated pricing through minor contracts raises serious questions, especially when market rates are significantly lower.
With this motion, the Torrevieja Socialist Municipal Group aims to usher in a new era of accountability and fairness in local contracting, paving the way for a brighter future for businesses and residents alike.
Posted by: Adam Hatton on 21/10/2024
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Costa Blanca, Spain – The Costa Blanca region is experiencing a dynamic shift in its real estate market as the latest statistics reveal significant growth and evolving buyer preferences. As we move into the final quarter of 2024, the area continues to attract attention from both local and international buyers, driven by its picturesque landscapes and favorable living conditions.
-Notable Increases in Sales
Recent reports indicate that property sales in Costa Blanca have surged by 12% compared to the same period last year. This increase is largely attributed to a growing interest in the area as a desirable location for both permanent residences and vacation homes. Key hotspots such as Alicante, Orihuela Costa, and Altea are witnessing particularly high demand.
-Shifting Buyer Preferences
The latest trends show a shift in buyer preferences toward larger properties with outdoor amenities. Many buyers are looking for homes that can accommodate remote work, with gardens and terraces becoming essential features. "With the rise of hybrid working, many families are prioritizing space and outdoor living,” said Javier Martínez, a local real estate expert.
-Price Growth and Market Stability
While the average property price per square meter has risen by approximately 6% this year, experts emphasize that the market remains stable. This growth reflects a healthy balance of demand and supply, and many agents report that homes are selling quickly, often within weeks of being listed.
-New Developments on the Horizon
The Costa Blanca region is also seeing a surge in new developments, particularly luxury villas and sustainable apartment complexes. Developers are responding to the demand for eco-friendly housing, incorporating green technologies and materials. "Buyers are increasingly interested in sustainability, and we’re committed to meeting that demand,” noted Ana Gómez, a representative from a leading real estate firm.
-Challenges in the Market
Despite the positive outlook, the region faces challenges, particularly regarding inventory shortages. Many desirable properties are quickly snapped up, leaving some buyers frustrated. Local authorities are working to facilitate more construction projects to alleviate this pressure and ensure a steady supply of homes.
-Conclusion
As 2024 draws to a close, the Costa Blanca real estate market is poised for continued growth. With its blend of natural beauty, vibrant culture, and appealing lifestyle, the region remains a top choice for those seeking to invest in property. Whether you’re a first-time buyer or looking to expand your portfolio, the Costa Blanca offers a wealth of opportunities that are hard to resist.
Stay tuned for more updates as we continue to monitor the evolving landscape of Costa Blanca real estate.
Posted by: Adam Hatton on 14/10/2024
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Spain — In a move to support residents in the housing market, two significant assistance programs have been introduced for both foreign nationals and Spanish citizens currently residing in the country.
The first initiative, known as the AVAL ICO, targets young people seeking to purchase their first home. Available to individuals aged up to 35 years, this program allows banks to provide loans covering 80% of a property's value. The Instituto de Crédito Oficial (ICO) further supports these young buyers by guaranteeing an additional 20%. This initiative aims to alleviate the financial challenges many young people face when entering the housing market.
In addition to the AVAL ICO, the Valencian Community has launched its own assistance program, the Aval de la Comunidad Valenciana. This program offers a guarantee of 15% for individuals up to 45 years old, providing essential support for those looking to buy their first home in the region.
These programs reflect the Spanish government’s commitment to making homeownership more accessible, particularly for younger and mid-age buyers navigating a competitive housing landscape. As the demand for housing continues to rise, these initiatives aim to empower residents by easing financial burdens and fostering a pathway to homeownership.
Posted by: Adam Hatton on 11/10/2024
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