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The Costa Blanca's Zenia Boulevard shopping center continues to solidify its reputation as a key driver of economic growth and community development. With record-breaking footfall in 2023 and significant ongoing renovations, the mall’s success offers a compelling case for property investment in the surrounding area.
Record Footfall Reflects a Thriving Economy
In its 12th year, Zenia Boulevard welcomed an unprecedented 15 million visitors in 2023, marking an impressive 8.6% increase in footfall compared to 2022. Peak months saw staggering traffic, with 1.8 million visitors in July and 1.7 million in August, underscoring the area’s year-round appeal as a retail and leisure destination.
Such figures not only highlight the strength of the local economy butalso demonstrate the sustained demand for tourism and services in the Costa Blanca. For property investors, this translates to growing interest in both short-term vacation rentals and long-term residential opportunities.
Renovations Signal Long-Term Growth
Zenia Boulevard is undergoing a transformative €18 million renovation, set to complete by March 2024. Upgrades include modernized facades, improved paving and rest areas, enhanced dining spaces, and revamped children’s facilities.
The addition of solar electricity installations and a micro water treatment plant highlights the center’s commitment to sustainability, with a projected 40% increase in renewable energy usage and up to a 15% reduction in water consumption. These forward-thinking initiatives are expected to attract even more visitors and tenants, further boosting the mall’s reputation and economic impact.
What This Means for Property Investors
Zenia Boulevard’s growth mirrors the broader appeal of the Costa Blanca as a hub for tourism, shopping, and lifestyle. Investors can capitalize on several key opportunities:
- Vacation Rentals: High visitor numbers create strong demand for nearby holiday accommodations, ensuring excellent occupancy rates and rental yields.
- Residential Demand: Families and retirees are drawn to areas with top-tier amenities, such as Zenia Boulevard’s shopping and leisure facilities.
- Commercial Potential: The influx of visitors provides opportunities for retail and service-oriented property investments near the mall.
A Future-Proof Investment Destination
As Costa Blanca continues to attract international attention, areas surrounding thriving developments like Zenia Boulevard are poised for sustained growth. The shopping center’s success and ongoing upgrades signal confidence in the region's economic future, making now an opportune moment to invest in property.
With a combination of increasing tourism, modern infrastructure, and a commitment to sustainability, the Zenia Boulevard area offers both immediate returns and long-term value for savvy investors.
Posted by: Adam Hatton on 05/12/2024
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Costa Blanca tourist officials have been promoting the region at London’s World Travel Market, focusing on strengthening ties with the UK — its largest foreign visitor base — and exploring opportunities in emerging markets like China, the U.S., and Eastern Europe.
Jose Mancebo, director of the Costa Blanca Tourist Board, noted that 35% of foreign tourism in Alicante province comes from the UK. In 2024, British visitors are staying longer (7.3 days on average) and spending more — up 14.1% from last year. Benidorm remains the top destination, attracting around 60% of British travellers.
The Costa Blanca delegation also met with China Travel Online, the largest holiday portal in Asia, as well as tour operators from the U.S., Poland, and Italy, opening new doors for international tourism.
Investment Opportunities
For property investors, this growing influx of international visitors presents a promising opportunity. With rising demand for short-term rentals and vacation homes, especially in The Costa Blanca, the region is set to see strong rental yields.
The expansion into new markets also signals potential long-term property value growth. As Costa Blanca becomes an increasingly popular destination, both for tourists and investors, now could be an ideal time to invest in property, with strong returns and future growth expected.
Posted by: Adam Hatton on 26/11/2024
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The City of Torrevieja is currently allocating significant funds for its La Purísima and Christmas festivities. The total budget, not including last-minute concert expenses, stands at 1,500,000 euros.
The Council has tendered nine public contracts for various items and events, such as costumes and accessories for the Queen of the Salt and her Ladies, costing 13,000 euros, and the Diego Ramirez Pastor Award Gala, priced at 17,477 euros. In addition, the lighting for festivities and Christmas alone costs close to half a million euros.
Additional expenses include organising and producing Christmas activities (200,000 euros), La Purísima patron saint festivities (208,373 euros), and assembling of the municipal nativity scene (80,000 euros). The Salt Queen Gala costs 46,451 euros, while the Three Kings Parade will set us back in the region of 237,000 euros.
A concert by Lori Meyers Granada, costing 160,000 euros, will also be approved by the Council soon. Other events, like Halloween and this weekend’s gastronomic festival, further add to the spending, with the latter budgeted at 69,271 euros.
The question arises as to whether this extensive outlay is justified, considering the current economic situation of many residents and the significant amounts of taxpayer money involved, or whether the Christmas spending of Torrevieja City Council is simply spiralling completely out of control.
Sorce: https://theleader.info/2024/11/16/is-torreviejas-christmas-spending-out-of-control/
Posted by: Lloyd Kelly on 25/11/2024
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The Torrevieja Socialist Municipal Group is making waves with a bold motion aimed at transforming the way minor contracts are awarded in the city. If approved, this initiative will open the door for any interested party to compete for contracts related to works and services, shaking up the status quo and tackling cronyism head-on. Not only does this promise to boost local businesses, but it also aims to save taxpayers money in the process.
Presented at the council's plenary session, the motion seeks to shine a spotlight on the process of awarding minor contracts, ensuring transparency and inviting fair competition. By doing so, it hopes to drive down costs and encourage a diverse range of service providers to step up and offer their expertise.
Currently, minor contracts encompass projects with an estimated value of less than €40,000 for works and under €15,000 for supplies or services. However, the Socialist Group points to a troubling trend within the Torrevieja Council: a frequent misuse of these contracts. A 2023 report from the Council's Legal Department warns that minor contracts are being routinely awarded, raising concerns about potential "unwanted legal consequences.”
Evidence suggests that some of these contracts may border on fraud. The council has been known to invite companies with shared management or those far removed from the local area, often benefiting individuals linked to the ruling PP members. Alarmingly, there have even been instances where companies were hired for tasks that should fall under the council's own staff duties. A striking example is the €18,000 paid for an appraisal of the Los Romeros property, when the average market price is just around €2,000. This kind of inflated pricing through minor contracts raises serious questions, especially when market rates are significantly lower.
With this motion, the Torrevieja Socialist Municipal Group aims to usher in a new era of accountability and fairness in local contracting, paving the way for a brighter future for businesses and residents alike.
Posted by: Adam Hatton on 21/10/2024
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Costa Blanca, Spain – The Costa Blanca region is experiencing a dynamic shift in its real estate market as the latest statistics reveal significant growth and evolving buyer preferences. As we move into the final quarter of 2024, the area continues to attract attention from both local and international buyers, driven by its picturesque landscapes and favorable living conditions.
-Notable Increases in Sales
Recent reports indicate that property sales in Costa Blanca have surged by 12% compared to the same period last year. This increase is largely attributed to a growing interest in the area as a desirable location for both permanent residences and vacation homes. Key hotspots such as Alicante, Orihuela Costa, and Altea are witnessing particularly high demand.
-Shifting Buyer Preferences
The latest trends show a shift in buyer preferences toward larger properties with outdoor amenities. Many buyers are looking for homes that can accommodate remote work, with gardens and terraces becoming essential features. "With the rise of hybrid working, many families are prioritizing space and outdoor living,” said Javier Martínez, a local real estate expert.
-Price Growth and Market Stability
While the average property price per square meter has risen by approximately 6% this year, experts emphasize that the market remains stable. This growth reflects a healthy balance of demand and supply, and many agents report that homes are selling quickly, often within weeks of being listed.
-New Developments on the Horizon
The Costa Blanca region is also seeing a surge in new developments, particularly luxury villas and sustainable apartment complexes. Developers are responding to the demand for eco-friendly housing, incorporating green technologies and materials. "Buyers are increasingly interested in sustainability, and we’re committed to meeting that demand,” noted Ana Gómez, a representative from a leading real estate firm.
-Challenges in the Market
Despite the positive outlook, the region faces challenges, particularly regarding inventory shortages. Many desirable properties are quickly snapped up, leaving some buyers frustrated. Local authorities are working to facilitate more construction projects to alleviate this pressure and ensure a steady supply of homes.
-Conclusion
As 2024 draws to a close, the Costa Blanca real estate market is poised for continued growth. With its blend of natural beauty, vibrant culture, and appealing lifestyle, the region remains a top choice for those seeking to invest in property. Whether you’re a first-time buyer or looking to expand your portfolio, the Costa Blanca offers a wealth of opportunities that are hard to resist.
Stay tuned for more updates as we continue to monitor the evolving landscape of Costa Blanca real estate.
Posted by: Adam Hatton on 14/10/2024
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