Alex Trelinski
TORREVIEJA and Orihuela are Alicante Province’s top areas for foreign property buyers according to the Valencia region Notary Association.
Figures for the first nine months of 2022 show the two municipalities accounted for over a third of all overseas home deals in the province.
Torrevieja recorded 4,854 foreign sales between January and September- up 96% on the same period in 2021, when the pandemic severely depressed the market.
Crucially the total was 57% more than in the pre-pandemic year of 2019.
The largest group of overseas buyers came from Sweden(787) followed by Germany(484).
Orihuela mirrored Torrevieja’s big rise- 85% more than in 2021, and a 53% increase on 2019’s foreign sales.
In contrast to its neighbouring municipality, British purchasers dominated with 823, followed by Belgians on 504.
Alicante City was the third biggest in the region with 2,231 foreign home sales led by Algerian, Russian, and Ukrainian buyers.
Calpe was fourth on the list(804) followed by Santa Pola(766), Javea(748), Denia(719) and Benidorm(585).
The Notary Association said that foreign buyers largely stuck to coastal areas of Alicante Province and that has resulted in a property boom in some municipalities, but quiet trading inland.
READ MORE:
- New build property prices in Spain show biggest rise since 2007
- Spain’s Balearic Islands wants to restrict non-resident property buyers but EU law forbids it
- Splashing out: Record levels of investment as property sector in Spain booms
