Touristic Apartments in Villajoyosa

Location — Villajoyosa, Costa Blanca

Villajoyosa (La Vila Joiosa in Valencian) sits at the quieter midpoint of Spain's Costa Blanca, between the high-rise energy of Benidorm and the boutique calm of Altea. Its painted old-town seafront, artisan chocolate heritage (Valor's factory is in town) and Blue Flag beaches attract a stable international visitor base — predominantly Belgian, Dutch, French, German and increasingly Polish — much of which returns season after season.

900 m to Playa Centro — walkable straight down to the seafront promenade
35 min from Alicante–Elche International Airport (ALC) — direct AP-7 access, year-round low-cost connectivity from Brussels, Eindhoven, Berlin, Warsaw, London, Paris and 70+ other European cities
2 km to Benidorm centre, 8 km to Altea — Marina Baixa coast
Walking distance to old-town restaurants, weekly market and the TRAM line connecting Alicante to Denia
Demand seasonality: peak family beach (May–Sep), gastronomy shoulder (Apr, Oct), pickleball clinics and longer-stay digital workers (Nov–Mar)
Tourist-licence framework increasingly restrictive for new permits across the Comunidad Valenciana — existing licensed inventory is structurally scarce and the scarcity protects resale value

The asset — commercial premises adapted for tourist use

These eight units are legally classified as commercial premises (locales comerciales) inside two completed residential buildings, fully adapted and individually licensed for tourist residential occupation. The legal classification is not cosmetic. It determines how the asset is taxed, how the licence behaves over time, what role the host residential community can play in the unit's future, and how the property is valued and resold.

The practical picture

Each unit holds an individual tourist-use licence for short-term rental on Airbnb, Booking.com, Vrbo and similar platforms
Owner personal-use limit: up to 120 days per calendar year (current Comunidad Valenciana regulation for licensed tourist apartments)
Own independent street access — separate from the residential building entrance, with security door and pre-installation for keyless access
Outside the residential comunidad de propietarios — no community fees, no community vote on rentals, no access to the residential pool
Private terrace-garden 25–37 m², finished in artificial grass, fenced and accessible directly from the living area
IVA on acquisition: 21% (standard commercial rate) — see the tax section for the recovery analysis

Available units

Eight units · two typologies · prices exclude 21% IVA

Unit A — Corner · 2 bed / 2 bath · 82.10 + 32.66 = 114.76 m² · €275,000
Unit B — Centre · 2 bed / 2 bath · 86.19 + 25.83 = 112.02 m² · €275,000
Unit C — Centre · 3 bed / 2 bath · 110.98 + 30.15 = 141.13 m² · €335,000
Unit D — Corner · 2 bed / 2 bath · 85.26 + 30.15 = 115.41 m² · €285,000
Unit E — Corner · 2 bed / 2 bath · 81.93 + 35.45 = 117.38 m² · €280,000
Unit F — Centre · 2 bed / 2 bath · 86.35 + 35.45 = 121.80 m² · Show House
Unit G — Centre · 3 bed / 2 bath · 110.98 + 35.45 = 146.43 m² · €340,000
Unit H — Corner · 2 bed / 2 bath · 79.35 + 36.90 = 116.25 m² · €280,000

All prices exclude 21% IVA. Corner units (A, D, E, H) — wraparound terrace, two-sided natural light, no shared wall on the long side. Centre units (B, C, G) — deeper terrace and a larger built footprint on the 3-bed (C, G), single-sided light, slightly better acoustic insulation from external traffic.

Reading the typology choice

Best entry price: Units A and B at €275,000 — both 2-bed, the difference is corner vs centre layout and terrace shape
Largest terrace: Unit H — 36.90 m² of outdoor amenity on a corner unit, the rest of Corner stock follows close behind (E with 35.45, A with 32.66)
3-bedroom family product: Units C and G — the 30–35 m² terrace makes the difference in family-segment ADR (average daily rate) on short-stay platforms
Buyer pattern observed so far: the first sale (Unit F) was a 2-bed Centre to a Belgian family. The Corner stock typically attracts the digital-worker winter segment because of two-sided light.

Why the asset class matters — commercial-tourist vs residential-tourist

Two routes to short-term rental investment on the Costa Blanca dominate the market: (a) buy a residential apartment and apply for a tourist licence, or (b) buy commercial premises already adapted and individually licensed for tourist use. On the platforms the guest experience looks similar. The two structures behave very differently underneath.

The community-vote question

Since the 2019 amendment to Spain's Ley de Propiedad Horizontal and the further developments in 2024, a residential comunidad de propietarios can — by a three-fifths majority — vote to restrict or prohibit tourist rental activity in the building. New licences face the highest exposure; pre-existing licensed activities may have grandfather protection depending on the building's statutes and the local administration's interpretation. The legal landscape is evolving and is far from settled.

The investor question: if you own a residential apartment with a tourist licence in a building where neighbours later vote against rentals, your operational ability to use the licence can be severely curtailed — even if the licence itself remains technically valid. Across Marina Baixa and the wider Costa Blanca, residential communities are increasingly exercising this right.

Commercial premises adapted for tourist use are outside the residential community. They do not vote, are not subject to the community's decisions on tourist activity, and pay no community fees. The licence is anchored to the asset's commercial classification, not to the tolerance of residential neighbours. This is a structural distinction, not a marketing one.

Licence durability — head-to-head

Community can restrict rentals? ✗ Residential YES (3/5 majority of neighbours) · ✓ Commercial-tourist NO (outside community)
Monthly community fees: ✗ Residential €80–180 typical · ✓ Commercial-tourist very low
Licence transfer on resale: ✗ Residential tied to activity registration, may need re-application · ✓ Commercial-tourist clean, attached to property class
Independent access: ✗ Residential shared entrance and lift · ✓ Commercial-tourist own street access
Private outdoor space: ✗ Residential typically none or shared · ✓ Commercial-tourist private garden 25–37 m²
Communal pool access: ✓ Residential YES, communal · ✗ Commercial-tourist NO

A residential tourist flat offers one thing the commercial unit does not: access to communal amenities (pool, gardens, lifts). For a buyer prioritising personal-use comfort over yield mechanics, that may be the right trade.

For the investor whose priority is licence durability, cost efficiency and a clean future exit, the commercial structure wins on more dimensions than it loses.

What's included

Delivered unfurnished but turnkey-ready for fit-out:

Fully fitted kitchen with brand-name appliances (induction hob, oven, fridge-freezer, washing machine, dishwasher)
Air-conditioning + aerothermal heating + sanitary hot water (single integrated system, low operating cost)
Private terrace-garden in artificial grass, with perimeter fencing
Independent street access with security door and intercom
Pre-installation for fibre internet (Movistar / Orange / Vodafone)
Bathroom fittings included (ceramics, taps, glass screens)
Tourist licence in place at delivery, transferred at escritura
10-year structural decennial insurance (LOE) covering hidden defects of construction

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Furniture, decoration, soft fit-out and rental listing setup are the buyer's responsibility. We can introduce you to two local interior designers experienced in short-stay product and to property managers operating specifically in Villajoyosa / Marina Baixa.

The tax position — 21% IVA today, possibly recoverable tomorrow

This is the section investors most often misread, so we are going to be precise rather than promotional. The conclusion is positive, but it is conditional.

Today

These apartments attract 21% IVA on acquisition (commercial premises rate). On a €280,000 unit that is €58,800 — vs €28,000 at the 10% residential rate. Short-stay tourist rentals operated without hotel-like services (no daily cleaning, no breakfast, no reception) are currently IVA-exempt in Spain.

With no output IVA on the rental income, the input IVA paid on acquisition is not currently recoverable for the typical private-investor profile.

So today, the 21% is a real cash cost compared to the 10% residential rate. We will not pretend otherwise.

The expected change — 2027–2028

The Spanish government, aligned with the EU's VAT in the Digital Age (ViDA) package and the broader political push to even the playing field between hotels and short-stay platforms, has signalled an intent to require VAT on tourist rentals operated by individual investors and property managers. Public timelines point to 2027–2028 for entry into force. The exact rate, scope and transition mechanics are still in regulatory text.

If the reform passes broadly as anticipated, three things follow for a buyer today:

Your rental activity will begin generating output IVA (IVA repercutido) charged to guests
The 21% you paid on acquisition becomes potentially deductible against that output IVA, subject to the standard 10-year capital-goods regularisation (regularización de bienes de inversión) and pro-rata rules
Future buyers in the secondary market — also investors — will be in the same position: they can recover their 21%, which expands the resale buyer pool and supports resale price

The bottom line — stated honestly. A buyer at today's prices can plausibly recover most or all of the 21% IVA over the years following the reform, provided (i) the reform enters into force broadly as anticipated, (ii) the unit is genuinely operated as a tourist business, and (iii) the regularisation mechanism in the final regulation works in the way most tax practitioners expect. A residential buyer at 10% IVA has no equivalent recovery path under any version of these reforms.

IVA scenarios — €280,000 reference unit

IVA rate on purchase: Residential 10% · Commercial-tourist 21%
IVA paid up-front: Residential €28,000 · Commercial-tourist €58,800
Recoverable today: neither
Recoverable if 2027–28 reform passes: Residential no — ever · Commercial-tourist yes, over the regularisation period
Net cost after recovery (best case): Residential €28,000 permanently · Commercial-tourist ~€0
Net cost if reform delayed or narrowed: Residential €28,000 permanently · Commercial-tourist up to €58,800

Tax treatment, recovery eligibility, applicable rate and transition rules must be validated with your own qualified Spanish tax advisor (asesor fiscal) on the basis of your personal or corporate position. The expected reform is in regulatory process; its final mechanics are not guaranteed. Nothing in this section is tax advice.

Personal use — up to 120 days a year

The tourist-use licence permits owner occupation for up to 120 days per calendar year — the cap under current Comunidad Valenciana regulation for licensed tourist apartments. The remaining 245 days the property is available for short-term rental through whichever channels you prefer (Airbnb, Booking, Vrbo, direct booking, agency partnership).

You operate the rental activity yourself, or through a property management company of your independent choice. We do not offer rental management.

Typical mix observed in comparable Villajoyosa stock:

Owner stay of 4–8 weeks split between summer (1–2 weeks) and shoulder season (gastronomy, Easter, pickleball) — comfortable headroom under the 120-day cap
Year-round let with two friction-light handover days between bookings (peak season) and weekly or longer stays in winter
Some owners block 2–3 weeks for visiting family/friends as gifted stays without monetising — counts towards the 120-day owner cap

Rental returns — what to expect

We do not publish income projections. Short-stay yields depend on pricing strategy, fit-out quality, property manager, seasonality and platform mix — all of which sit outside our control as promoter. Anyone showing you a guaranteed yield headline on a deck is selling, not forecasting.

Our recommendation: before signing the private contract, contact two or three property management companies operating specifically in the Villajoyosa / Marina Baixa segment. A good local PM will deliver a rental analysis based on real comparables (live AirDNA / Mabrian data, their own historical occupancy, ADR per typology). That is the most honest projection you can obtain.

Context — Marina Baixa benchmark

For context only — not a forecast for these specific units. Publicly available short-stay data for the wider Marina Baixa coast (Benidorm, Altea, Calpe, Villajoyosa) reports a typical operating range of 55–72% annual occupancy with ADR of €110–170 for 2-bedroom apartments and €160–230 for 3-bedroom apartments. Ground-floor units with private outdoor space tend to price 10–20% above the centre of these ranges because of the under-supplied format. Net yields, after platform fees, cleaning, utilities and a 20% property-management fee, typically settle in 3.5–5.5% net on acquisition cost ex-IVA for a privately-managed unit operated as a quasi-business — but your figures will depend on your fit-out, your PM and your pricing. Treat this as a starting reference for the conversation with your PM, not as a projection.

Why the format is supportive

Ground-floor apartments with private gardens and independent access are an under-supplied format in Villajoyosa and the wider Marina Baixa. Guests who specifically value privacy, outdoor space, pram-friendly and wheelchair-friendly access and a non-shared entrance — families with small children, mature couples, digital workers in winter, small-pet owners — typically pay a premium for these attributes. That premium is what your local PM will quantify against the comparable set.

Payment schedule

Three-stage payment · all amounts over the agreed price + 21% IVA

Reservation — €6,000. Reservation document signed; credited to price.
Private purchase contract — 25% of price + 21% IVA on that 25%. Within 30 days of reservation. From this moment the buyer instalment is covered by an individual aval bancario under Ley 38/1999.
Public deed (escritura) — remaining balance + IVA. Before December 2026, at the office of the notary on title.

Buyer assumes notary fees (~0.4–0.5% of price), Land Registry (~0.2%) and ITP/AJD/IVA as applicable. Plusvalía municipal by seller. Decennial insurance, technical project and licence fees borne by promoter.

If you miss a payment date: the contract includes a 15-day cure period. After that, the promoter may exercise the legal remedies provided in the private purchase contract (penalty interest at legal rate + 2 points, and ultimately termination with retention of arras under the Spanish Civil Code framework). Most issues resolve at the first reminder — we recommend setting a calendar alert one week before each instalment date.

Risks you should weigh before buying

An honest sales document discusses what could go wrong. Four risks specific to this asset class:

1 · Tax reform timing or scope

The IVA recovery argument depends on the 2027–2028 reform reaching the statute book broadly as expected. Political delays, regulatory carve-outs for small operators, or unfavourable transition rules could leave part of the 21% as an unrecoverable cost. The downside scenario is summarised in the IVA scenarios list above.

2 · Municipal moratoria on new licences

Although these eight units already hold individual tourist licences, the regulatory environment for new licences across the Costa Blanca is tightening. This is structurally good news for the resale value of existing licensed inventory — scarcity supports price — but worth knowing if you plan to convert another commercial unit in future on the same basis.

3 · Operational void in shoulder seasons

Villajoyosa has stronger seasonality than year-round destinations like Madrid or Málaga. November–February occupancy typically softens. Your local PM should quote you both an annual and a low-season-only revenue scenario so you can stress-test cash flow.

4 · Currency risk — non-EUR buyers

If you fund the purchase from a non-EUR base (GBP, PLN, SEK, NOK, USD), the exchange rate at each instalment date affects your total EUR-equivalent cost. Two practical mitigants: (i) open a EUR account with a Spanish or pan-European bank at the moment of reservation and fund it ahead of each instalment using a non-bank FX provider (typically 30–80 bps cheaper than a high-street bank); (ii) consider partial forward cover for the largest instalment (the escritura balance) if you have material currency exposure. Your asesor fiscal can also advise on whether to fund the acquisition through a corporate structure in your home jurisdiction for tax and currency-management reasons.

About the promoter — Monsora SL

Monsora SL is an Alicante-based real estate developer active since 1992, with a portfolio focused on residential and tourist-residential product on the Costa Blanca. The company is registered in the Mercantile Registry of Alicante and operates under the Modernhousespain brand for international buyers. Current active projects include Residencial Vista Cala 52 (52 dwellings in Villajoyosa, delivery 2027) and this conversion project.

Registered office: Calle Canónigo Torres, 2 — Torrevieja, Alicante
CIF: B-03311008 · Year founded: 1992
Notary on escritura: D. Víctor M. de Luna Fanjul (Villajoyosa)
Banking partner / aval entity: Banca March — buyer instalments guaranteed under Ley 38/1999

Frequently asked questions

What exactly are these apartments legally?

Commercial premises (locales comerciales) inside two completed residential buildings, fully reformed and individually licensed for tourist residential use. They are not classified as residential dwellings, do not form part of the residential comunidad, and hold tourist-use licences for short-term rental on Airbnb, Booking and similar platforms.

Why 21% IVA instead of 10%?

The 10% reduced rate applies to dwellings classified as residential. Commercial premises attract the standard 21% rate. The 21% is currently a non-recoverable cost for most private investors, and is expected to become recoverable once Spain implements the 2027–2028 IVA reform on tourist rentals — subject to the final regulation.

Is the 21% IVA recoverable today?

Not for the typical individual investor today. Tourist rentals on Airbnb/Booking operated without hotel-like services are currently IVA-exempt, so there is no output IVA against which to deduct the 21% on acquisition. The recovery becomes possible if and when the expected reform enters into force. Your asesor fiscal can confirm your specific position.

Can I use the apartment personally?

Yes — up to 120 days per calendar year, the cap under current Comunidad Valenciana regulation. Outside personal use, the apartment is available for tourist rental.

Is there access to the building's swimming pool?

No. The units do not belong to the residential comunidad, so they have no access to the communal pool or other communal areas of the host building. Each apartment has its own private terrace-garden (25–37 m²) as outdoor amenity.

Are the apartments furnished?

No — delivered unfurnished. Kitchen is fully equipped with appliances, and air-conditioning + aerothermal heating are installed. Furniture, decoration and rental fit-out are the buyer's responsibility.

Who manages the rental?

You do, or a property manager of your independent choice. We do not offer property management services. We recommend talking to two or three local PMs in the Villajoyosa / Marina Baixa area before purchase to validate the income assumptions.

When is delivery?

Before December 2026. The residential host buildings are already structurally complete; the interior fit-out of the commercial units is the work currently in progress.

What are the running costs as an owner?

No community fees (the unit is not in the residential comunidad). The main recurring costs are IBI (property tax — approximately €500/year), the municipal waste levy, utilities, IVA on rentals (once the reform applies), and any property management fees you contract. Budget an additional ~€800–1,200/year for the standard private-garden maintenance (replacement of artificial grass elements as needed, perimeter fence touch-ups).

Are the buyer payments guaranteed during construction?

Yes. All instalments paid before public deed (reservation, contract, intermediate payments) are guaranteed under Ley 38/1999 via individual avales bancarios issued by our banking partner (Banca March). If the works do not deliver, the buyer is refunded the paid amounts plus statutory interest.

How many units are available?

Seven of the eight units remain. Unit F has been sold. Allocation is on a reservation-date basis.

Do I need a Spanish NIE to buy?

Yes. Any individual buyer who is not a Spanish citizen needs a NIE (Número de Identidad de Extranjero) before signing the private purchase contract and definitively before escritura. The NIE can be obtained in person at a Spanish consulate in your country of residence, or in Spain through your abogado with a power of attorney. Allow 4–8 weeks total. Your lawyer can manage the full process.

Can a non-resident get a Spanish mortgage on a commercial-tourist unit?

Yes, but with two caveats. (a) Loan-to-value for non-residents typically caps at 60–65% on residential and is generally tighter on commercial classification — expect 50–60% LTV with 20–25-year terms. (b) Some Spanish banks do not lend on commercial-tourist asset class at all and will direct you to their hotel-investment desk instead, which prices differently. We recommend obtaining a non-binding mortgage indication before reserving — your lawyer can introduce a broker working specifically with non-resident files on the Costa Blanca.

Can I buy through a company instead of in my own name?

Yes. International buyers commonly use a Spanish SL (limited company) or a holding company in their home jurisdiction — for IVA recovery mechanics post-reform, inheritance planning, or simply to ring-fence the rental activity. The decision affects acquisition tax, ongoing tax, IVA recoverability and resale, and should be taken with your asesor fiscal before signing the reservation. We have no preference between buyer structures and contract directly with whichever entity you choose.

What about Spanish inheritance and gift tax?

Inheritance tax (Impuesto sobre Sucesiones y Donaciones) in the Comunidad Valenciana has substantial allowances and bonifications for close relatives (children, spouse), particularly after the 2023 reform that brought ISD effectively close to zero for direct family in many cases. Non-residents inheriting a Spanish property are taxed under the same regional regime as residents (post-2014 EU jurisprudence). Plan with your asesor fiscal — the choice of buyer structure interacts directly with ISD outcomes.

Is there a cooling-off period after the reservation?

No statutory cooling-off applies once the reservation document is signed and the €6,000 has cleared in the seller's account. The reservation is a binding pre-contract under Spanish law. We strongly recommend reading the reservation document with your abogado before signing, not after. Take the time — there is no penalty for asking for an extra week to consult.

Do I need a Spanish bank account?

Strongly recommended but not strictly required for the purchase itself. Most buyers open a non-resident EUR account with a Spanish bank to fund instalments, pay utilities and (post-delivery) receive rental income from your property manager. Opening takes 1–3 weeks once you have your NIE.

Mini-glossary — Spanish purchase terms

IVA — Spanish VAT. 10% on residential new-build, 21% on commercial premises.
Escritura — public deed of sale signed before a notary; transfers full ownership.
NIE — foreigner identification number, required for any property transaction in Spain.
Comunidad de propietarios — the residential owners' association of a building; sets community fees and votes on building matters.
Aval bancario — bank guarantee under Ley 38/1999 covering buyer instalments during construction.
ITP / AJD — transfer tax / stamp duty applicable on resales and on certain documentation; does not apply to a new-build purchase, where IVA applies instead.
Plusvalía municipal — local capital-gains tax on the land component, paid by the seller on a new-build first transmission.
Asesor fiscal — Spanish tax advisor; the right professional to confirm IVA, inheritance and structuring questions.
Locales comerciales — commercial premises classification under Spanish urban planning; the legal status of these eight units.

Next step

If you have read this far and the asset class fits your investor profile, the next steps are straightforward:

Request the full info pack — floor plans, qualities specification, contract templates and the IVA memo from our tax advisor.
Book a 30-minute video call with the promoter team to ask the questions that matter to your specific situation.
Plan a viewing in Villajoyosa — we coordinate visits to all available units in a single morning and can recommend hotel options for an overnight stay.
Reserve when ready — €6,000 reservation document, allocation by reservation date.

Allocation is first-come, first-served by reservation date. Seven of the eight units remain available at the time of writing.

This document is for informational purposes and does not constitute legal, tax or financial advice. Information on tax treatment, IVA recoverability, the 2027–2028 reform of short-stay rentals, mortgage availability, inheritance and any other regulatory matter should be confirmed with your own qualified Spanish advisors (abogado + asesor fiscal) on the basis of your personal or corporate position. Rental income estimates and benchmark ranges must be validated independently with local property managers. Areas, prices and delivery dates are subject to final measurement, contract and applicable regulation. Photographs and renderings are indicative. Monsora SL · CIF B-03311008 · Registered in the Mercantile Registry of Alicante, Volume 1573, Sheet A-20125.

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Felix Ramirez

Marketing & Sales