Simon Wade
PROPERTY sales have rebounded back to near pre-pandemic levels across Alicante province, but one area has seen investment AHEAD of 2019 levels.
Some 34,000 homes have been sold in the area this year, according to a report from the Association of Real Estate Agents (API).
This has brought business worth over 5.1 billion euros to the province.
Additional demand has meant a surge in prices of 15% on average.
The API mentioned other mitigating factors such as low interest rates, new demands of buyers meaning a lack of the right housing stock, more expensive land and dearer building materials.
They also claim that volatile stock markets and unstable fiscal investments mean ‘bricks and mortar’ is much more en vogue.
Although British buyers have dropped due to the fallout from Brexit, purchasers from countries such as China, France, Belgium, Holland and Russia are stepping in, says the API.
Figures show that La Vega Baja is enjoying the biggest rise in sales.
Current data shows a resurgent market that hasn’t been seen since the first few months of 2019.
The 1308 homes sold represent an increase of 190% since the third quarter of 2020.
However, purchases in Alicante and Elche have seen a significant drop in numbers.
Elche in particular saw only 137 sales in the same period, a drop of 63%.
Further API analysis shows that of the top six Alicante Province municipalities, some FIVE are of the Vega Baja area.
- Pilar de la Horadada
- Alicante
- Orihuela
- Santa Pola
- San Miguel de Salinas
- Torrevieja
READ MORE: Costa Blanca is Spain’s number one choice for foreign property buyers
