Property in Benidorm for residency permit
On the Citizenship-By.Investments website, you can find promising properties in Benidorm for investment with detailed descriptions and direct contact information for sellers. You can select real estate with your desired parameters in an optimal price range and get in touch directly with an agency or developer, which will speed up the transaction and help obtain a residence permit—often the main goal for most investors.
The city is located on the Mediterranean coast, making it an ideal spot for beach vacations and permanent residence. With up to 286 sunny days per year, it offers numerous water sports, nightlife options, and various local and international restaurants, while tourism continues to grow. Prices here are lower than in Madrid or Barcelona, yet the area retains a distinctly Spanish feel. Alicante Airport, just 40 min away, adds to its appeal for international travellers.
The market of investing property in Benidorm offers:
- Studios.
- Apartments with 1–5 bedrooms.
- Penthouses.
- Villas.
- Plots of land.
Newly constructed property in Benidorm is particularly attractive, offering residents a full range of premium amenities such as 24-hour security, landscaped walking areas, fitness centres, swimming pools, cafes, and shops.
Residence permit in Spain by buying property in Benidorm
In 2024, obtaining a residence permit in Spain through real estate investment is one of the easiest ways to legalize your status in Europe. A wide variety of people—from IT specialists to business owners and families with children—choose housing purchases to achieve resident status. The Golden Visa procedure includes:
- Searching for real estate. The price must start at €500,000, and this can include one or multiple residences, including commercial spaces.
- Completing the purchase under Spanish law and obtaining documents proving ownership.
- Preparing necessary paperwork and applying to the immigration department for a residence permit, including for family members if needed. The applicant must have an annual income of at least €28,800, and for each additional family member, an extra €7,200 should be deposited.
- Waiting for the application to be reviewed and receiving an official response.
- Receiving a residence card valid for three years, which can later be exchanged for permanent residency. To become a citizen, one must purchase property for sale in Benidorm and live in Spain for at least 10 years, during which time absences from the country should not exceed 10 months. Additionally, applicants must pass exams demonstrating proficiency in Spanish and knowledge of the nation’s history and culture.
Investment real estate in Benidorm
For foreign investors, the area offers a great opportunity to profit from rental real estate. Costa Blanca attracts numerous tourists from various countries, and even many Spaniards vacation here. One of the key advantages is the attractive property prices in Benidorm combined with a rapidly growing real estate market. The value per square meter is increasing by 11.3% annually, higher than the national average, making Benidorm an excellent location for both rental income and resale profits.
Investing in local apartments, villas, and penthouses allows for:
- Securing a perfect holiday home.
- Relocating to Spain without needing hotel accommodation.
- Earning a stable income from rentals.
- Making a long-term investment with future profits from resale.
- Resolving residency issues in Europe through a residence permit.
Given the layout of the city, more options can be found in high-rise buildings, though the infrastructure and comfort level can vary. To ensure a quick return on investment, choose units in popular tourist areas and hire a reliable real estate management company in advance. If there are no immediate plans to relocate, many developers offer guaranteed rental income, typically around 5–6% annually.
Yes, foreigners can purchase houses and apartments in Spain, even without citizenship or resident status. The rules for foreign buyers are the same as for locals, requiring a legal check of the property, signing an intention agreement, transferring funds, and registering ownership. Afterwards, you can relocate, apply for a residence permit, find tenants, and generate income based on your goals for the property.
Adults with an annual income of at least €28,800 and in good health can apply for a residence permit after acquiring property worth at least €500,000. You must apply to the immigration office after receiving ownership documents and expect a response within 40 working days. The process, including search and acquisition, typically takes 4–6 months.
The residence permit is valid for three years, after which you will need to decide on the next steps. The permit can be extended, but many opt for permanent residency, eventually leading to Spanish citizenship. However, citizenship requires 10 years of continuous residency, during which you may leave the country for no more than 3 months at a time, with a maximum of 10 months spent abroad over the entire period.
To qualify for temporary resident status, real estate for sale in Benidorm must be valued at €500,000 or more. There are no requirements regarding property size or location, and you can own multiple housing units to meet the financial requirement for a Golden Visa. If you pursue multiple transactions, it’s advisable to consult with an immigration lawyer who can calculate costs and confirm your eligibility for a residence permit.
The choice of location depends on how you plan to use the property. If you intend to rent apartments or a house in Spain to tourists, the best options are central areas near Levante Beach, popular with young people, or new developments near Poniente Beach, favoured by digital nomads. For permanent relocation, consider properties in Benidorm, Spain, as well as Villajoyosa or Finestrat. Other neighbourhoods worth exploring include Polop and Altea.