The city of Benidorm still has land available for new developments, although it is increasingly scarce due to the great activity that has arisen in recent years in construction after overcoming the real estate crisis.
A series of promotions that were in process when the pandemic began and that have continued to materialize in the second year of the pandemic: Sakura Tower, Delfin Tower, Benidorm Beach or Sunset Cliffs are some examples.
However, the news of the year in the real estate sector was in the Intempo building. At the end of the year they announced that it was beginning to be inhabited with the first resident of the building. Construction was stopped for many years after the company went bankrupt in 2014 and the debt was assumed by the Management Company for Assets Proceeding from Bank Restructuring (Sareb). Finally, the mortgage was obtained by the SVP Global fund, which has managed to put an end to the work, which will end with the sale of all the apartments.
Regarding prices, the cheapest are from the first floor to number 22, which at the same time are the ones with the least views of the sea due to the buildings built in front during the time in which the construction of the Intempo was stopped. Thus, the apartments have an area of between 62 and 95 square meters, with a price of 257,000 euros for the cheapest and 341,000 for the most expensive.
On the other hand, the competition in Poniente is important and the prices are similar. Around Intempo new promotions have been coming out that are renewing the Skyline of Benidorm. Behind it is a large part of TM Grupo Inmobiliario, which is the owner of the large bag of land in the area. His latest project is Sunset Cliffs, which is scheduled for the last delivery of the key in January 2024. The price is not suitable for all pockets: from 237,000 euros (one room, 78 square meters).
In addition to the prices, what all these types of new buildings in Poniente also have are the number of common areas for the residents to enjoy: a swimming pool, parks for children, gyms, sports courts or even movie theaters. In other words, a series of services that continues to look for a second home buyer profile.
Even in the TM area, the CHM company has started the Sakura Tower development, with 23 floors for 76 homes, two of them penthouses for more than 800,000 euros. In this case, the cheapest is a room and the price amounts to 188,000 euros. Two-bedroom homes start at 248,850 euros, while three-bedroom homes start at 399,000 euros. The building is currently under construction, which began in 2021, and the delivery of the keys is scheduled for the end of 2023.
Not far from the area is the Delfin Tower, a residential complex that promises to be one of the city’s architectural symbols and that sold one of the most expensive apartments in the province as soon as the sale began: 2,081,000 euros in 2018 for one of the houses. Construction of the building began in February 2019. Initially it was scheduled to be completed in 2020, but work on the building continues.
Finally, in the Poniente area is the Benidorm Beach development, by Alibuilding. The building will be 36 floors, which is also nearing completion. The starting price of the apartments had two-bedroom flats in the lowest range for 195,000 euros, although due to demand, this amount was changing upwards in the first weeks.
Another of the pending issues that began to take off in 2021 was the residential project on the plot where the Las Terrazas building was formerly located. Urbana de Exteriors is the promoter of the isolated action program and its future construction and marketing. A few weeks ago, the owners of the previous homes and commercial premises shared out new flats, which will be arranged in 85 apartments and 16 premises.
In addition, the construction of Monver Mediterráneo, by the promoter Monver Inmobiliaria, also began in 2021 (a few meters away). It will be a 19-storey building, one house for each floor, plus commercial premises and garages. The construction of this new building was marked by a decision that affected minigolf, best known by residents of the city and even more so by the British who spend the summer in Rincón de Loix every year.
Ensanche Levante and other areas
As we can see, most of the real estate movements are located in the Poniente area due to the availability of land with a fully approved and ready urban planning program. Ensanche Levante will be the one to carry out these movements in the future, but we still have to wait since it is in process in the environmental phase, which will be followed by urban planning and finally the start of works.
On the other hand, there are other spaces available that continue to be used, as is the case of Els Tolls with the Arel Benidorm building, followed by Árqura Homes. It is one of the first to be built in the province of Alicante by the Sareb promoter brand. Construction is nearing completion and it is located on Avenida Italia number 4. In this case, the prices are more affordable for the citizens of Benidorm and are more similar to those found in the “New Courts” area, although slightly higher than the general ones in the city center because they are new and have common areas. Two-bedroom homes start at 134,000 euros.
Lastly, one of the half-built buildings in the Foietes area, on Avenida 9 de octubre, and which stands out from the crowd due to the many colors it has on its façade, is about to be reactivated after the acquisition of a promoter from Valencia.
