Friday, October 22

Sales of apartments in Elda increase as an investment due to the pull of the coast


The real estate sector is undergoing a major transformation in Elda. Ten years ago, nobody could imagine that an industrial city, located in the interior of the province and 40 kilometers away from the beach, could become a rising market for vacation rentals. Well, in the last four years the acquisition of second-hand apartments in Elda has increased exponentially, as an investment product due to the pull of the coast and low prices. It is a phenomenon that real estate agencies attribute to several factors. The main one is that second-hand homes they are very cheap. The average can range between 25,000 and 40,000 euros but these are usually flats located on second or third floors that do not have an elevator and need small renovations. conditioning for its age. They are located in central neighborhoods and are usually inherited properties, which the owners want to sell soon, or regular residences of the elderly to deal with to the stairs is a nuisance.

It should be remembered that Elda is one of the cities with more than 20,000 inhabitants with the lowest prices in all of Spain in the real estate sector. A circumstance that does not go unnoticed by small investors. Proof of this is that many families in central Spain, mainly from Madrid, Toledo and Valladolid, are acquiring flats in Elda. In these cases the attractiveness of the Alicante coast also influences. The beach is half an hour away by car -a walk for a Madrilenian used to the continuous queues and long distances from the capital- and what they are looking for is a holiday apartment. Many of these families cannot buy an apartment in Alicante, San Juan, Torrevieja, La Vila or El Campello, but they can afford an apartment in Elda, which they use during the summer holidays and rent the rest of the year through real estate agencies. like the Rubisán Group of Elda and Petrer. Sergio garcia It is its sales agent and, as it explains, “it is a trend that we have been detecting in recent years that is increasing and that with the coronavirus pandemic it has exploded.”

The average value of the houses does not exceed € 40,000 but they lack an elevator and need small reforms


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The casuistry is wide and varied. García points, as an example, to the case of a retiree from Barcelona who decided to invest part of his savings in acquiring six floors in Elda that he automatically put up for rent. “He had made accounts and keeping the money in the bank was not profitable for him with the currently low interest rate,” says the expert who, in recent months, has also closed two similar operations with foreign citizens. One of them has been formalized by a South American couple who have lived in Paris for more than 20 years and pay a rent of 1,300 euros per month in the French capital. And Elda the couple have just bought an apartment for 27,000 euros in the neighborhood Fraternity, in the vicinity of the Las Acacias health center. It is a third without elevator and they have already put it up for rent. A good business because in Elda there is currently a lot of demand for housing rental. The average monthly rent is between 350 and 380 euros and is increasing due to the reduced offer. Quite the opposite of what happens with commercial bass. In this case, the supply far exceeds the demand.

Fraternity, the trendy neighborhood for young couples

Many young couples are acquiring second-hand single-family homes in the Fraternidad neighborhood with prices ranging between 55,000 and 65,000 euros. These are old houses that need a reform but offer the possibility of building a private garage. In recent years, a score of reforms of this type have been carried out, which is helping to revitalize an area that was aging. In addition, this housing trend is exerting a population balance in the face of the predominant expansion of the city towards Avenida de Ronda.

The other singular real estate operation has been carried out by an Elder who has settled in London for decades. She has recently bought a flat to spend the summers in her hometown and has also put it up for rent, reserving a room for her. They are two examples of a phenomenon that nobody could imagine ten years ago that was produced in Elda. But the sector considers it positive because it generates wealth, attracts population and prevents the abandonment of houses in the urban area.

Fraternity, the trendy neighborhood for young couples

Many young couples they are acquiring second-hand single-family homes in the Fraternidad neighborhood with prices ranging between 55,000 and 65,000 euros. These are old houses that need a reform but offer the possibility of building a private garage. In recent years, a score of reforms of this type have been carried out, which is helping to revitalize an area that was aging. In addition, this housing trend is exercising a population balance in the face of the predominant expansion of the city towards Ronda avenue.


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