Buying Your Property on the Costa Blanca

Why so many people buying on the Costa Blanca?

Climate and lifestyle
Once you come you will see for yourself, the reasons are endless. The climate for a start with 320 days sunshine a year and average temperatures of around 18C is one of the best in Europe. Imagine, waking up for sunshine 320 days a year.

This region in Spain is unique as we are protected by a mountain range starting from Benidorm and ending in La Manga enveloping us within our famous salt lakes which are home to 100s of flamingos. The area is also rich in agriculture which together with the sea and salt lakes creates a micro-climate and the World Health Organization considers this region one of the healthiest places in the world to live. People suffering from arthritis, rheumatism, asthma or heart-related problems are strongly recommended to spend at least couple of months in this area every year.

With an abundance of bustling everyday markets selling fresh fruits and vegetables and excellent quality seafood caught just off shore every day and available for only a fraction of the price in England, it is not hard to adapt to the Mediterranean lifestyle and live healthier.

Beaches, Beaches, Beaches.
Costa Blanca (White Coast) got its name from long, beautiful white beaches; most of them are awarded “Blue Flag” status for safety, cleanliness and facilities. There are plenty of both natural and man-made, town beaches. These latter ones are cleaned every day, all year round and have a wide choice of bars and restaurants to cater for all tastes. Their shallow waters are ideal for small children making this area a fantastic destination for families.
If you prefer a little peace and tranquility, there are natural sandy beaches all along the coast. One of them is almost 20 miles long starting from La Mata going all the way up to Santa Pola. Here you are bound to find a stretch of beach just for yourself!
Further down south you can visit Europe’s largest salt-water lagoon, the Mar Menor (“Small sea”) separated from the main sea by a very narrow peninsula, the La Manga de Mar Menor. This area is ideal for water sports such as jet-skiing, paragliding, water skiing etc.

Golf-lovers paradise
Between Alicante and Murcia there are no less than 12 golf courses with more being constructed! The fabulous climate makes it possible to enjoy a game all year round without having to fight the wind and the rain. The most popular courses are:

• Las Ramblas Golf Club, Par 72 18 holes 5914m.
• Real Club de Golf Campoamor, Par 72 18 holes 6203 metres
• Villamartin Golf Course, 18 holes 6,132 metres
• La Finca Golf Course, 18 holes
• La Manga Golf Club, North Course, 6321 yds. Par 71
• La Manga Golf Club, South Course, Length 6361 metres, par 72
• La Manga Golf Club, West Course, 6530 yds. par 73

Low cost of living
Visitors to the Costa Blanca are often surprised how far their money can go compared to their country of origin. Prices of food, drinks, petrol and other everyday necessities are often 30-40% cheaper than in the UK. Most of the time it isn’t worth getting your hands and kitchen dirty as you can sit in a restaurant and have a 3-course “Menu del día” (Menu of the day) for as little as 6€/£4 which includes wine as well.
Annual running costs for your house are lower too: in case of an average two-bedroom property it is less than £800 a year including standing charges of water and electricity, local taxes, community charges and insurance.

People and culture
Spanish people are very hospitable and once you befriended them, they are friends for life
It is easy to get by with only English as a large percentage of the Costa Blanca population is from Northern Europe, mainly Britain, Ireland and Scandinavia, but we recommend you to learn at least some Spanish as it does make a difference. It helps you integrate, make Spanish friends and get to know this fantastic country better.

If you are looking for a little bit more activity other than sunbathing on your terrace sipping sangria, there are plenty of clubs and organizations you can join. You can find all kinds of activities from bowls to line dancing, from tennis to fishing. There are English charities which are always looking for volunteers. A great way to meet new people - Exhibitions, concerts, social events, coach trips etc. are organized every day. All you have to do is to pick up one of the local English “What’s On?” newspapers for more information.

Another thing the Spanish are famous for all around the world is that they certainly love their fiestas! There are big celebrations almost every month with breathtakingly colorful processions, dances and fireworks. These usually last for the whole weekend or even longer and are a great entertainment for the whole family. With so much going on you will soon get into the habit of having a siesta every afternoon.

Easy access to the UK
Costa Blanca is easily reachable from all parts of the UK with numerous low-cost airlines: Easyjet, Monarch, Flybe, EUJet, MyTravel, Ryanair, Jet2, BMI, BMIBaby etc. You can fly for next to nothing especially if you are flexible with dates and times.
The area is serviced by two major airports, Alicante and Murcia, both of them continuously undergoing major development due to ever-increasing numbers of visitors.

Investment opportunity
Apart from health and economical benefits, a large percentage of our clients are looking to buy purely for investment purposes. The most recent figures from the Spanish Housing Ministry show an average price increase of 17,42% from last year and coastal areas registered an even steeper climb.
In addition to the increase in value you can derive rental income from your property as well. An average two-bedroom apartment, walking distance to the sea can easily bring in 450-500 euros a week in the summer! If you are considering this option we are happy to assist with choosing the appropriate property in the most suitable area.

The buying process

At Personal Touch Properties, we do not do inspection trips as they are known in the UK. There are no vans full of people with different budgets and certainly no high-pressure sales tactics.

Initially you pay for your air-ticket and accommodation and all these expenses are refunded to you on completion. We feel that it takes pressure off of you. We pick you up at the airport and arrange accommodation for you in comfortable apartments close to all amenities.

We insist on one-to-one service and the same person will guide you through the whole process from helping you find your perfect property to handing over the keys and beyond! You can contact him or her any time and (s)he will know your name and will be familiar with all the details concerning your purchase. This way you do not have to explain who you are to different people at different departments every time you call.
We found that our clients really appreciate this approach as they are able to get up-to-date information about their purchase from the person they already know and trust.

I found my ideal property, what happens next?
We sell both new and resale properties and the process are a bit different in these two cases.

New build:
Once you decided on a property the builder will draw up a pre-construction contract written in both Spanish and English which includes the exact location and price of the property, the payment schedule and the completion time. Then we sit down with the lawyer who will go through the contract and make sure everything is in order and you fully understand the content of the document before signing it.
Upon signing you are asked to pay 3000€ as a deposit which will be deducted later from the final payment. This takes the property off the market and freezes the price.

Payment structures differ from builder to builder. Usually, they ask for 50% of the price within 4-6 weeks and the rest is payable on completion after you inspected the property and found it in order.
However, more and more constructors are offering more flexible payment schedules. For example: 15% in 4-6 weeks, 25% in 6 months and 60% on completion.

You can borrow money from Spanish banks for the final payment and mortgage rates are very favorable! Actually, more than 70% of buyers opt for this and we work with one of the largest High street banks in the area, CAM Bank which has branches with English-speaking staff all along the Costa Blanca.

When your property is ready and you checked that everything is to your satisfaction we accompany you to the “Notaria” where you sign the deeds in front of the notary, a government official. You can also give Power of Attorney to your lawyer and he can sign the deeds in your name. If you choose to be here for the signing the lawyer will act like a translator. After signing you will receive your keys from the builder.

Resales
If you decide you are not willing to wait 6-18 months for your property to be completed we have around 100 resale apartments, houses and villas to choose from.
Once we found you a resale property to your liking and you don’t require mortgage you can actually move in within days. All you have to wait for is the lawyer to conduct the necessary searches to make sure the property is debt-free; there are no outstanding mortgage payments, taxes, community fees etc. Once this is complete we can go and sign the new deeds in front of the notary.

If you are getting a mortgage, the whole process may take up to 5 weeks. First you have to open a bank account and pay some money in (around 200 euros) for the valuation. Banks are normally happy to lend you up to 70% of the valuation.

In all cases you are asked to pay a deposit of around 3000 euros to show the owner that you are serious about buying so (s)he can take the property off the market. The deposit is held by the lawyer to protect all parties.

On the “Big Day” we accompany you to sign the deeds at the notary along with the lawyer and- if you are buying with a mortgage- the bank´s representative.

Costs
When you set your budget, please remember to add a further 10% for taxes and costs. These are: VAT/Stamp duty at 7%, notary and land registry fee, lawyer’s fee, change of electricity and water contracts and- if applicable- mortgage arrangement fee. If you calculate at 10% it should cover all these extra expenses.

Once you decided on your new home we will explain in great detail the final bottom line cost before you sign any contract.