Walter Finch
SPAIN’S latest luxury development just a stone’s throw from Benidorm shows that foreign demand in the upper end of the market remains strong.
The Delfín Natura has officially opened its doors in El Albir, Alicante, following an €80 million investment by local developer Goya Real Estate.
The complex, built on a 30,000 square metre plot between Albir Beach and Sierra Helada Natural Park, offers a mixed-use model allowing owners to either live in their apartments or rent them out through a holiday letting programme managed by developer Goya Real Estate.
Strong overseas interest has driven the project’s commercial success, with buyers from over 12 countries snapping up units across three phases totalling 160 apartments.
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The project spans three phases with 160 apartments in total. The first phase includes 73 units with only three remaining unsold, whilst the second phase of 25 apartments has completely sold out.
The third phase, currently being marketed, has seen 54 of its 62 units reserved.
Prices have steadily increased across each phase, from €449,000 in the first to €655,000 in the latest, demonstrating sustained appetite from foreign investors despite broader economic uncertainties.
International buyers from the Netherlands, Belgium, Norway, Poland, Sweden, Russia, Ukraine, Belarus, Germany and France have dominated sales, alongside some Spanish purchasers.
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The strong foreign interest reflects Spain’s continued appeal as a safe haven for overseas property investment, particularly along the Costa Blanca.
Built on the site of a former BBVA staff residence, the complex features extensive communal areas including pools, spa facilities, gymnasium, cinema room and landscaped gardens.
Goya Real Estate CEO Sergio Vidal Balaguer said the development aims to create ‘a new lifestyle’ whilst respecting the area’s natural environment and agricultural heritage.
While the development has been welcomed by the business community for the boost it’ll give to the region’s tourism market, it also adds to growing concerns about Spain’s housing affordability crisis.
Luxury tourist developments continue to proliferate along the Costa Blanca whilst local residents struggle with soaring property prices and rental costs.
Critics argue such developments contribute to housing shortages and gentrification in coastal areas, though supporters point to job creation and economic benefits for the region.
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