 Benidorm is an icon of the Spanish tourist industry. Once a small fishing village with
no more than 2,000 inhabitants, the town rose to prominence in the 70s, 80s and 90s
as it spearheaded the country's growth in tourism. Today, Benidorm's vast arrays of
tourist complexes attract up to 5,000,000 visitors each year, and the town is still
growing, both in size and popularity. Many English expats own bars, pubs and
restaurants around the old town, and in places there is a distinct 'British' feel to this
part of Spain.
For investors in Spanish property, Benidorm continues to offer exceptional
opportunities for those looking for a second home, retirement home or income
property. The area's enduring magnetism as a 365-day of the year resort, together with
the local authority's commitment to building and maintaining a high-quality
infrastructure in the region ensures that potential for rental income is maximised.
Growth in property value continues apace too. Benidorm property owners are
currently enjoying annual price inflation rates of around 18%.
Benidorm's main attraction is of course the combination of its great beaches, a
wonderful climate, energetic nightlife and the diverse range of activities available in
and around the resort. The town has two main beach sections - Levante and Poniente.
Both are of fine golden sand and spread away from the main promontory that extends
out from the centre of Benidorm. During the summer months the beaches are very
crowded - particularly Levante beach. Even during the winter months, when the
temperature can still reach 20°c or so, there is a constant stream of visitors and
residents walking the two beaches. Poniente beach is especially attractive during the
evenings as it faces the direction of the setting sun.
Both of Benidorm's beaches are backed by an immaculate palm tree lined promenade
with supporting cafes, bars and restaurants. Every taste is catered for with menus
ranging from bacon & eggs to cordon bleu style dishes. During the evening, this
stretch behind the two beaches comes alive. On the Levante side are cabaret bars,
disco pubs and clubs all offering a range of nightly entertainment, the clubs clustered
behind the 'Marina' being specifically aimed at the younger audience. Other
entertainment hotspots in and around Benidorm include Benidorm Palace, the Costa
Blanca Casino (one of the largest Casinos in Spain) and The Medieval Tournament
located on the outskirts of Benidorm.
Property hunters looking for Spanish property in the Benidorm region should also
consider the towns of Altea and Calpe further on up the coastline. Both offer a quieter
alternative to Benidorm, while still being close enough to take advantage of
everything that Benidorm has to offer. On the south side of Benidorm is La Vila
Joiosa, another popular seaside town in which to buy Benidorm property.
Just as when buying a villa in Spain in any other region of the country, property
purchasers should reserve funds equivalent to between 8% and 10% of the property
price to cover legal fees, notary fees and taxes.
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