30 Aug, 2023 @ 10:30
1 min read

EXPLAINER: Why one in five homes are lying empty during housing shortage on Spain’s Costa Blanca

Why are young people struggling to get on the property ladder in Spain?
Image by Tumisu from Pixabay

OVER 209,000 properties are lying empty in Alicante province according to the National Institute of Statistics(INE)- around a fifth of all homes in the region.

Potential landlords are not making moves due to fears of non-payment or even squatting, while people looking to rent- especially in the younger age bracket- are holding back because of increasing prices.

Average monthly rentals have soared to €1,008- 30% more than at the start of 2023 and has depressed the rental market despite the high availability of property.

The rental average climbs to €1,300 in Alicante, €1,800 in Benidorm, and €2,500 in neighbouring Finestrat.

City areas have the greatest amount of housing surplus lead by Torrevieja(30,639), Orihuela(24,109), and Alicante(15,733).

The situation appears to be less acute in the north of Alicante province with Denia having 5,551 empty properties, followed by Calpe(4,719) and Javea(3,973).

The INE figures show that in addition to 209,000 empty properties, there are a further 385,000 that are used ‘irregularly’ as holiday or ‘second’ homes.

Even with high property demand, the question is why more owners are not looking for an easy revenue from potential tenants?

Maria Motos from real-estate portal Fotocasa said: “There are many reasons people are holding back including the fact that property cannot be rented due to its condition as it needs improvement.”

“Owners also fear tenants who do not pay or mistreat a house, or even end up squatting in it, causing legal nightmares,“ added Motos.

“They want greater legal certainty over non-payment or illegal occupation.”

Juan Carlos Sempere of the Alicante area Abaco real estate agency commented: “Insecurity over non-payment is a real fear but that is a problem that can be solved by taking out rental insurance to make up for any shortfall.”

The agency said that owners are looking to sell properties or to use them as tourist lets as opposed to offering long-term rentals.

GOT A STORY? Email us at [email protected]


Alex Trelinski

Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Spain's 'infanta' Sofia
Previous Story

Spain’s ‘infanta’ Sofia arrives in Wales to begin Baccalaureate studies

Olive oil in Spain soars to new record wholesale price
Next Story

Olive oil in Spain soars to new record wholesale price

Latest from Alicante

Go toTop

More From The Olive Press

Shooting in Estepona: Victim, 33, is left with a bullet wound after attack in an urbanisation

AN investigation has been opened in Spain’s Estepona after a

Los Mejores Casinos para Visitar en España en 2024

Quienes hayan programado una visita a Europa y sean aficionados