PROP­ERTY MAR­KET BO­NANZA

Over 100 prop­er­ties sold in Ali­cante prov­ince ev­ery day - a fig­ure un­seen since sum­mer 2008

Costa Blanca News (North Edition) - - FRONT PAGE - By James Parkes

OF­FI­CIAL sta­tis­tics re­leased on Tues­day show the Costa Blanca prop­erty mar­ket is en­joy­ing a new bo­nanza with an av­er­age 101 trans­ac­tions signed ev­ery day.

Fig­ures re­leased by the na­tional sta­tis­tics in­sti­tute (INE) show that Ali­cante is only be­hind the more densely pop­u­lated Madrid and Barcelona prov­inces in terms of over­all sales fig­ures.

In June, 3,052 prop­er­ties were sold in Ali­cante prov­ince, shat­ter­ing the gloomy Brexit fore­casts, with Bri­tish buy­ers con­tin­u­ing to lead the way among for­eign buy­ers in all ar­eas.

Pop­u­lar re­sorts such as Benidorm, Calpe, Dé­nia, Tor­re­vieja and Guardamar, and their sur­round­ing towns, ac­count for the largest share of sales - which are at lev­els un­seen since be­fore 2008, when the prop­erty mar­ket reached its pre-re­ces­sion peak.

Prices have also started to rise, with the av­er­age now €1,092 per square me­tre.

Prices have been in­creas­ing grad­u­ally since they hit rock bot­tom in 2015, how­ever they are still far from pre-cri­sis lev­els.

The vast ma­jor­ity of prop­erty sales were sec­ond-hand apart­ments and vil­las (four out of ev­ery five trans­ac­tions in June).

Buy­ers' pref­er­ence for Ali­cante prov­ince is proved by the fact that it has over­taken neigh­bour­ing Va­len­cia (2,588 prop­er­ties sold in June) and Málaga on the Costa del Sol (2,826).

Mur­cia also had a boost with 1,193 prop­er­ties sold, although prices are far lower - an av­er­age €893 per square me­tre.

For­eign buy­ers cur­rently rep­re­sent 13.25% of the na­tion­wide fig­ure. This share has rock­eted from only 4% in 2009.

Again, the Va­len­cia re­gion, the Balearics and the Ca­nary Is­lands are the most sought-af­ter lo­ca­tions for for­eign buy­ers. Bri­tish cit­i­zens are the main buy­ers of prop­er­ties, fol­lowed by French, Ger­man, Swedish and Bel­gian na­tion­als.

The INE re­port can be rapidly con­firmed by the ap­pear­ance of new hous­ing de­vel­op­ments in coast­line ar­eas in the Mari­nas Alta and Baja and the Vega Baja (mainly Ori­huela Costa and Tor­re­vieja).

Although it is the best June fig­ure since 2007 (4,754), this year's trans­ac­tion record was re­ported in May with 3,515 trans­ac­tions.

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