Lockdown causes massive June property sales collapse on Spain’s Costa Blanca

HOUSE sales collapsed by almost half across the Costa Blanca in June according to figures released by the National Institute of Statistics(INE).

The national fall was 34.3 per cent compared to the same month last year, but the Alicante Province drop was much higher at 45.6 per cent.

Foreign property buyers are a crucial driving force in the Costa Blanca market, and the figures are unsurprising as property viewers could not come into Spain until the State of Alarm restrictions were lifted in late June.

In spite of the fall, the region was still the second busiest for deals in the country, beaten by the Madrid area.

The Valencian Community as a whole fell by 43.8 per cent, second to only the northern region of Galicia.

Sales of second-hand housing suffered greater falls compared to new properties.