Ride The Wave Of Popularity In Benidorm

The area of Benidorm is well known for sea, sun, and nightlife, but it is also a great place for tourists who are looking to check out the growing real estate market. As a matter of fact, many international investors are already beginning to take notice of its potential.

In 2008, the unemployment rate in Spain went up by 36% when there was a bursting of the property bubble. The investors were not able to get rid of their Spanish real estate investments quickly enough. However, today there is a new outlook, which is that the economy is going well and the banks are healthy. The property is also still rather cheap and the legal framework is investor-friendly when compared to some other destinations in Europe.

The recovery began about six years ago with a bailout of the €41 billion banking system. It is now gaining speed as the lenders purge out the more toxic property assets. When looking at the rental sector, there are cities like Benidorm that have shown record average prices because of a combination of a fall in supply and an increase in demand. This is because a lot of homeowners that were renting their homes during the slump, are now starting to put them back on the market.

You will also see that short-term rentals for tourists have been a much more profitable option than a long-term lease.
Visitors tend to flock to the area of Benidorm to hit the hotels, beaches, and theme parks during the day, and the clubbing and entertainment spaces at night.