April 2021 News

Contents

  • No masks on the beach

  • Investment returns: +7.2%

  • “Golden visa” no longer trending?

  • Torrevieja transforms into Benidorm

  • Resale property: +1.5%

  • Villa with tower in Alicante

1. No masks on the beach

Lagoon

Spain’s Ministry of Health maintained the requirement to wear masks in public places, however restrictions were relaxed from April 2021. On beaches, masks were allowed to be removed when maintaining distance, and sunbathing and swimming became possible without masks.

Many bars and cafes extended operating hours until 11:30 PM — an important change ahead of peak season. On May 9, Spain’s “state of emergency” (in effect since October 25) ended, leading to a series of relaxations:

  • Curfew was lifted or moved to midnight (depending on the province).

  • Travel restrictions between Spanish provinces were lifted in most regions.

  • Ban on gatherings of more than six people was lifted in most provinces.

  • Increased permitted capacity at public events.

2. Investment returns: +7.2%

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Average rental yield from real estate in Spain was 7.2% in the first quarter of 2021 — 0.4% lower than a year earlier. Among provincial capitals, Lleida led with 8.4%, followed by Murcia (7.9%), Huelva (7.2%), Castellón de la Plana (7%), and Santa Cruz de Tenerife (7%). Commercial premises averaged 9.3% annually, while the highest yield — 11.1% — was shown by offices in cities such as Seville, Huelva, and Toledo.

In the second half of 2020, Spain issued 162 “golden visas” — 76% fewer than in the first half, marking a historic low for the program. Chinese investors made up 34% of total applicants, Russians — 24%. Alicante province remained the most popular destination, followed by the Balearic and Canary Islands.

4. Torrevieja transforms into Benidorm

Sinforosa Tower project

Torrevieja has planned construction of 18 skyscrapers (up to 29 floors) along the waterfront over the next ten years. Nine buildings near the beach are to reach 23 floors; they are designed not to shade the beach. Two 82-meter towers are planned next to Doña Sinforosa park.

City mayor Eduardo Dolón stated: “All high-rise buildings will comprise 40% of housing stock for tourists.” He emphasized that the development will not copy Benidorm’s appearance, noting that Costa Blanca’s strength lies in having both cities as complementary tourist destinations.

5. Resale property: +1.5%

San Sebastian

Average price of resale housing in April 2021 was 1,784 euros per square meter — a 1.5% year-on-year increase. However, pandemic-driven migration to small towns and rural areas led to price drops in 28 provincial capitals. The steepest decline was recorded in Girona (-5.8%), followed by Castellón (-5.2%) and Seville (-5.1%). Maximum growth was shown by Huesca (+8.4%), Cuenca (+6.9%), and San Sebastián (+6.8%). Barcelona and Madrid declined moderately — by 2.7% and 0.8% respectively.

6. Villa with tower in Alicante

La Torre de las Águilas

In the Albufereta district of Alicante, a villa with the Torre de las Águilas tower was put up for sale — a 17th-century defensive structure that received cultural heritage status twenty years earlier. The estate grounds include a pool and garden that has preserved its historical appearance; the beach is just ten minutes away. The house’s total area is over 550 m², with five bedrooms and four bathrooms, while the plot with palm garden occupies 2,800 m².