Torrevieja's Mediterranean climate and extensive beaches attract both permanent residents and tourists, making it a prime location for property sales.
Selling a house here presents a great opportunity, thanks to its popularity and the high demand for coastal real estate. However, achieving a successful transaction requires a strategic approach and a solid understanding of the local market. In this article, find out how to sell a house in Torrevieja to ensure a smooth and profitable sale.
Measures before selling a house in Torrevieja
The first step in selling your property in Torrevieja is obtaining an accurate valuation. Understanding the current market value is crucial for setting a competitive price that attracts buyers while ensuring you don't undervalue your investment.
Equally important is preparing your property for viewings. This includes completing minor repairs and enhancing the home’s appearance to make it more attractive. A well-presented property not only attracts more interest but can also lead to higher offers.
Finally, ensure all necessary paperwork is in order before listing your home. Below, we outline everything you need to get started.
How do you calculate the value of your house?
Knowing the real value of your property in Torrevieja is an essential step before selling it. This process, known as a valuation, will help you set an appropriate and competitive selling price on the market.
There are many resources for valuation, although the idealista tool is recommended for valuing properties in Alicante province. This system will give a figure for your home based on multiple aspects such as location, characteristics or the time you need to sell it.
In addition, comparing your home with similar properties recently sold in the area can give you a clearer perspective of the market value.
How is the real estate market in Torrevieja?
The real estate market in Torrevieja has experienced notable growth in recent years, driven by its appeal as a tourist destination and its favourable Mediterranean climate. Currently, property prices are on a clear upward trend.
Torrevieja enjoys consistent demand from both national and international buyers, attracted by its proximity to beaches, high quality of life and wide range of services and amenities.
In this tourist hotspot, house prices have risen by 11.1% over the past 12 months (since August 2023). More recent data shows a continued, though more modest, increase: 1.8% over the last three months and 1% in the previous month.
How long does it take to sell a house in Torrevieja?
One of the main concerns when selling a property in Torrevieja is how long it will take to find a buyer. This timeline depends on several factors, such as the property's location, condition and how it compares to similar listings on the market.
According to a recent study by idealista, nearly half of all properties in Torrevieja sell in less than a month. Its status as a highly sought-after tourist destination means homes often sell faster than in larger cities.
Around 20.35% of homes are sold within the first week, while 24.54% take between one week and one month. Additionally, 26.63% of properties sell within one to three months.
This is the price per square metre in Torrevieja
The price per square metre in Torrevieja varies significantly based on factors such as location, proximity to the beach or shopping centres, and property features.
As of August 2024, the city's average property sale price is €1,979 per square metre, making it relatively affordable compared to other major cities and tourist destinations.
Prices fluctuate depending on the neighbourhood, with beachfront areas commanding the highest values. Neighbourhoods like Acequión, Nueva Torrevieja, and Playa de los Locos tend to have higher prices, while more inland areas such as La Siesta, El Salado, and even the city centre offer more affordable options.
Buyer profiles in Torrevieja
Identifying potential buyers is key to properly targeting strategies for selling a home in Torrevieja. This city attracts a diverse range of potential buyers who come for the tourist bustle and the beaches, especially in the summer. These are the prospective buyers.
- Retirees looking to enjoy their retirement in a warm climate.
- Investors who see local properties as a profitable business opportunity.
- Families looking for a second home by the sea.
- Professionals who can work remotely and want to live in a place with a high quality of life.
- Workers in the hospitality and tourism sector.
- International buyers, especially from Nordic countries and the UK, show significant interest in Torrevieja due to its climate and tourist facilities.
The documentation required to sell a house
Selling a property requires essential paperwork and documentation, a requirement across all of Spain, not just Torrevieja.
You must have the title deed, which verifies your right to the property. Additionally, you need the latest Property Tax (IBI) bill up to date, along with the latest bills for services and utilities, proving the house has no outstanding debts.
Other important documents include the certificate of habitability (cédula de habitabilidad), which confirms that the property meets minimum living requirements; the energy efficiency certificate, which is mandatory for selling the house; and, if applicable, the license of first occupation.
A recent valuation report and documentation supporting any renovations or improvements made to the property are also advisable. Additionally, be sure to review all information related to the taxes and the expenses of selling a home in Spain.
Choosing the ideal real estate agency in Torrevieja
Selecting the right estate agent is crucial for ensuring the successful sale of your property in Torrevieja. A reputable agency will help you achieve the best possible price and streamline the entire process, from marketing to finalising the sale.
When choosing a real estate agency, consider factors such as their proximity, the types of properties they manage and their reputation. idealista offers a tool that can assist you in finding real estate agencies that can sell your house quickly. Based on your needs, it will recommend several options to help you find the agency that best suits your preferences.
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