Construction of residential property returned to the Costa Blanca

Created on 28.01.2015 23:53:31
Construction of residential property returned to the Costa Blanca

In the coastal strip began fifty-two new sites, including more than 1,800 new homes, according to the Spanish daily
"El Mundo". New construction is concentrated in the area known as the Vega Baja, comprising Torrevieja, Orihuela, Guardamar del Segura, Rojales, Ciudad Quesada and Pilar de la Horadada.

The news is surprising, given that in Spain, hundreds of thousands of empty houses. Subject of debate in recent years has been the conversion of vacant sites in social housing, with little interest in new construction.

But developers in Vega Baja noticed increased interest from foreigners in the past year, which has caused a new mini-boom in construction projects. According to government figures, about 20 percent of homes sold in Valencia are in the Vega Baja, and buyers are mostly foreigners.

Building new facilities are very different from massive objects built around golf courses in the boom years, the newspaper said. Most of the objects of building small, typically up to 150 homes, and are characterized by a more modern design and high quality construction. Their price is also a 20 - 30 percent lower than the prices that prevailed during the boom years. The price of houses on the first line of the beach starts at € 225,000, falling to € 125,000 for houses located farther away from the coast.