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