News

Check out market updates

The Third Best Province for Property Purchases in Spain is Alicante

Property purchase in Spain, you can tell that the property sector is in recovery as there are so many more estate agents around than there were a few years ago. And it seems that many are selling quite a lot of properties too.

This is particularly the case for the province of Alicante, as figures released by the School of Property Registrars have revealed that between April and June this year, a total of 7,901 homes were purchased, which is an increase of 20.7% from the same period last year.

Already last year, in 2015, property purchases from the previous year had gone up by 10%.

And the data shows that these are the best figures for property sales that we have seen since the summer of 2008, when the second quarter closed with 8,052 operations.

These numbers are still a long way off what we were used to seeing during the time of the property bubble, which saw these figures doubled. However, it is definitely true to say that no one really wants to return to that level of activity if the end result is the same.

In any case, with a total of 7,901 property transactions during the second quarter of 2016, this means that Alicante is the third province in the whole of Spain with the greatest volume of operations.

Alicante sits behind Madrid, with 15,540 purchases, and Barcelona, with 12,191.

Although if we look at the number of houses sold for every 1,000 inhabitants in the province, property purchase in spain, Alicante actually moves up to second position, just behind Malaga.

While this is very positive news for the province, it must be noted that the majority of these property purchases are concentrated in the coastal areas, and consist of foreign investors buying a holiday home. This type of purchase makes up 50% of all the sales.

With regards to the purchase of main residences, property purchase in spain, the market is slightly weaker, although experts believe that this will pick up some time next year. The situation is being helped by very affordable prices and the low rate of the Euribor.

Re-sale properties were the most popular when it comes to the type of property investors have purchased. A total of 85% of all sales consisted of re-sale properties.

As a whole, 107,838 homes were purchased during the second quarter of this year throughout the whole of Spain. This is 23.7% higher than for the same period in 2015.

Visit Us On FacebookVisit Us On Twitter