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Real Estate in Benidorm, Spain | Expat Exchange
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Benidorm, Spain

Real Estate in Benidorm, Spain

By Joshua Wood, LPC

Last updated on Sep 07, 2024

Summary: Expats and retirees talk about real estate in Benidorm, Spain? How do you find a home in Benidorm? Should you buy or rent? What is the cost of housing?

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Balcells Group Lawyers
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Balcells Group Lawyers

How do I find a place to live in Benidorm?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Benidorm, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a large villa, depending on your needs and financial capabilities. Next, you should research the different neighborhoods in Benidorm to find one that suits your lifestyle and preferences. Some popular areas include Levante, Poniente, and the Old Town. Each has its own unique character and amenities. Once you've identified your preferred area, you can start searching for available properties. There are several online platforms that list properties for rent or sale in Benidorm, such as Idealista, Fotocasa, and Kyero. These websites allow you to filter your search based on location, price, size, and other features. In addition to online searches, you might also want to consider hiring a local real estate agent. They can provide valuable insights into the local market, help negotiate prices, and guide you through the legal process of renting or buying a property in Spain. When you find a property you're interested in, arrange a viewing. This will give you a chance to inspect the property, ask questions, and get a feel for the neighborhood. If you decide to proceed with a property, you'll need to negotiate the terms of the lease or purchase agreement. This will include the price, move-in date, and any other conditions. In Spain, it's common to pay a deposit of one to two months' rent for rental properties. Finally, once the agreement is signed, you'll need to arrange for utilities and services such as electricity, water, and internet. Some of these may be included in your rent, while others will need to be set up separately. Remember, moving to a new country can be a complex process, so it's important to do your research and seek professional advice if needed," said one expat in Benidorm.

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What is a typical expat home or apartment like in Benidorm?

"A typical expat home or apartment in Benidorm, is often located in a modern building with a balcony that offers stunning views of the Mediterranean Sea. These homes are usually fully furnished with a contemporary style, featuring a spacious living room, a fully equipped kitchen, and one or two bedrooms. Some apartments may also include a home office space, considering the increasing number of expats working remotely. The buildings often provide amenities such as a communal swimming pool, a gym, and sometimes even a tennis court. Many expat homes are situated in close proximity to the beach, local markets, restaurants, and bars, offering a vibrant social life. Despite being in a bustling city, many apartments offer a quiet and peaceful living environment. They often have air conditioning and heating systems to provide comfort throughout the year. Some expat homes might also have a small garden or terrace, providing a private outdoor space. In terms of decor, the homes usually reflect the local culture with a mix of Spanish and modern influences. They often have large windows to let in natural light and offer views of the city or the sea. The homes are designed to be comfortable and functional, with plenty of storage space. In terms of security, these buildings usually have a doorman or a secure entry system. Some might also have a parking space included. Overall, a typical expat home in Benidorm offers a comfortable, convenient, and enjoyable living experience," said one person in Benidorm.

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What is the average cost of housing in Benidorm?

If you are thinking about moving to Benidorm, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Benidorm can vary greatly depending on the location and size of the property. For instance, a one-bedroom apartment in the city center may cost around €150,000 to €200,000, while a similar property outside the city center may be priced at around €100,000 to €150,000. Larger properties such as three-bedroom houses can range from €250,000 to €400,000. However, these prices can fluctuate based on the current real estate market conditions," said one expat in Benidorm.

Should I buy or rent a home in Benidorm?

If you have not spent a lot of time in Benidorm, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Benidorm, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Benidorm for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a sense of stability and permanence. On the other hand, if you're unsure about your long-term plans or if your financial situation doesn't allow for the upfront costs of buying a home, renting might be a better option. Renting offers more flexibility, as you can move without the hassle of selling a property. It also allows you to avoid property taxes and maintenance costs, which are typically covered by the landlord. It's also worth considering the real estate market conditions in Benidorm. If property prices are high and predicted to fall, it might be better to rent for a while and wait for prices to drop before buying. Conversely, if prices are low and predicted to rise, buying a property could be a smart investment. Lastly, consider your lifestyle preferences. Some people prefer the freedom and flexibility of renting, while others prefer the stability and potential financial benefits of owning a home. It's important to weigh these factors and make the decision that best suits your needs and circumstances," said one person in Benidorm.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

Benidorm, Spain

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