Property in Torrevieja – in the top sales today
In the south of the Costa Blanca in the province of Alicante is the resort town of Torrevieja with a population of about 90,000 people. Today this place is one of the most popular Spanish resorts, combining recreation, cultural events, entertainment, shopping, and sports. A large number of Spaniards and foreign citizens constantly come to Torrevieja to enjoy high quality holidays and delicious food, and many of them then want to move to this city for permanent residence. Therefore, recently there has been a high demand for property for sale in Torrevieja.
Today Torrevieja is a rapidly developing town, which, thanks to its unique location, has many advantages compared to other towns in Spain. About 40% of the town's population are foreigners - citizens of more than 100 countries. These are mainly Europeans, as well as visitors from Asia, Africa and the American continent. The town's population increases several times during major holidays. Many residents of Madrid have purchased real estate here - a second home for weekends and holidays.
Torrevieja is a modern city. Those who are interested in places with a rich historical past, are unlikely to find anything particularly interesting here. While in the central area of the city and in the south in the La Veleta area you can see old buildings and traditional low-rise buildings, in most other areas new residential complexes with a full range of modern amenities are being built at a rapid pace. In general, new Spanish property is distinguished by its high quality on the European market.
An example of the approach of the city municipal authorities to the construction of new residential complexes is the construction of the La Hoya Sector-20 urbanization in 2023 on a land plot of 1,800,000 sq.m. 18,000 residents will come here and live in 7,490 new homes. The construction of the huge complex began with the laying of roads, the establishment of communications, the arrangement of green areas and pedestrian paths. The plan includes the construction of a pond to store 40,000 cubic meters of rainwater. This is done to avoid flooding during heavy rainfall.
A new commercial center will be built next to the urbanization on an area of 103,000 sq. m. m with a large number of shops, restaurants and bars, as well as various recreational areas for adults and children. This is one of the reasons why Torrevieja property has become so attractive.
Prices for property in Torrevieja as of September 2023 are as follows:
| Average price/1 sq.m, € | Price range per 1 sq.m, € | |
| Sale | 2177 | 1754-2779 |
| Rent | 10.26 | 8.58-12.76 |
Price dynamics in recent years show a gradual increase, which indicates a constant increase in demand for properties for sale in Torrevieja:
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Price, €/sq.m | 1317 | 1356 | 1410 | 1591 | 1619 | 1706 | 1929 | 2177 |
The average price of properties by district of the town of Torrevieja looks as follows:
| District in Torrevieja | Sale, €/sq.m | Rent, €/sq.m |
| Centro |
1754 |
9.39 |
| Nueva Torrevieja | 1873 | 9.32 |
| Playa del Cura | 1948 | 9.69 |
| La Mata | 2254 | 9.89 |
| Punta Prima | 2779 | 12.76 |
If we compare property prices in Torrevieja and other similar resort towns on the Spanish coasts, they are slightly lower here than on the Costa Brava and Costa del Sol.
The most popular property types in Torrevieja
Since the range of interests of those who consider buying property in Torrevieja is quite large, all types of properties that are popular in Spain are widely represented on the local market. Property in Torrevieja is represented by the following types of properties:
| Property type | Description |
| Apartments | Housing located in apartment buildings, both in the old and new buildings. They are distinguished by great variety, varying in size, number of bedrooms and bathrooms, the presence of furniture and appliances, additional locations and services |
| Penthouses | Elite apartments, which are located on the upper floors of buildings. They are distinguished by high quality finishes and the availability of the most modern amenities |
| Townhouses | Residential buildings are divided into blocks and are usually two- and three-level. They combine the characteristics of apartments and individual houses. On the territory of the townhouse complex, there are various public areas |
| Bungalows | Individual houses, designed for one family, are mostly one-story, where the bedrooms are on one side of the house and the common areas are on the other. They are highly popular because they are great value for money |
| Villa | The big home is distinguished by its autonomy, since all life support systems are made only for this house. It features spacious premises, a large number of amenities, extensive land plot |
It should be noted that modern housing construction in Torrevieja is different in that it is very difficult to find a one-bedroom apartment on the market of new buildings due to the fall in demand for small-sized apartments. Buyers prefer to buy new homes with at least two bedrooms. And such property for sale in Torrevieja, Spain, can be purchased without any problems.
Property for sale in Torrevieja: cost of living in the town
Before you buy property in Torrevieja, you should thoroughly study the areas of the town and think about where exactly to buy apartments, taking into account, among other things, living costs. The average monthly net salary after taxes in the town is € 1225, and the annual mortgage interest rate is 3.17%. On average, a mortgage loan is issued for 20 years.
When purchasing Torrevieja property for sale, first of all, you will be interested in the cost of utilities. For example, for an apartment with an area of 85 sq. m the bills for water, electricity, heating, garbage removal will be for € 100.1, the cost of mobile communications will be € 20, the Internet will be € 26.
Prices for public transport:
| Type of transport | Price, € |
| One-way ticket by bus | 1.55 |
| Monthly pass | 42.5 |
| Taxi (1 km) | 1.5 |
| Gas (1 liter) | 1.62 |
Prices for main products:
| Item | Price, € |
| Milk (1 liter) | 0.92 |
| White bread (500 g) | 1.43 |
| Rice (1 kg) | 1.20 |
| Eggs (12 pcs.) | 2.27 |
The town has eight districts, the living conditions of which are somewhat different from each other.
| District | Characteristic |
| Centro | In the central area of the town there are main infrastructure facilities, but there are practically no green areas and it is noisy from a large number of transport |
| Southern part: Punta Prima, El Acequión, La Veleta, Playa de los Náufragos | Lots of shops and restaurants, the beaches are close. Development of both low-rise and multi-apartment residential complexes |
| Los Balcones, Los Altos del Edén | Quiet areas with expensive real estate. Construction of new residential complexes, a large number of townhouses and mansions, is underway. The property is successfully rented out short-term, therefore it is attractive from an investment point of view |
| La Siesta – El Salado – Torreta | The largest area of the town with developed infrastructure is located some distance from the sea. It is convenient for permanent residence |
| Nueva Torrevieja – Aguas Nuevas | A new area with convenient infrastructure, a large number of green areas, and active residential construction. It is convenient for permanent residence |
How to buy property in Torrevieja
Property for sale in Torrevieja has been actively sold over the past years thanks, among other things, to clients being well informed. A lot of online resources, advertising campaigns from leading European companies, and good reviews from people who have bought Torrevieja property make the local market popular in Spain. However, many potential buyers are afraid to begin the process of buying an apartment or house on their own, thinking that this will be fraught with disappointment and financial losses.
In such cases, you should contact experienced real estate agents who will help you make the purchase. These professionals are the employees of the WTG Spain group of companies, who will help you choose a suitable property and will accompany you at all stages of the transaction:
- opening a bank account;
- making a deposit and reserving a property;
- checking the property for due diligence;
- payment of the full cost of the property;
- conclusion of a purchase and sale agreement;
- transfer of ownership.
In addition, experienced specialists will help you obtain a mortgage loan if necessary. Therefore, be sure to make your decision, and beautiful Torrevieja will happily welcome its new residents.
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