Falling House Prices

the most expensive

Good news for anyone thinking about buying a house or apartment in Benidorm – prices are dropping! A study undertaken by real estate specialist Idealista has revealed that the average price of used accommodation in Benidorm in the last quarter of the year dropped by 1.2%.

Interestingly, if you are considering buying property here or in any other part of Spain the additional taxes when buying second hand property are much less than when buying brand new when VAT must be paid on the price.

However, Benidorm property is still the most expensive in the province, with the average price of a square metre being €2800. Translated into English this means that a 3 bedroom apartment would set you back around €280,000!

2 January 2008 Stephen White.