News: Alicante Province records increase in property sales

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Alicante Province records increase in property sales
Written by Inmo Investments - 2 Oct 2017

Alicante Province records 12.5%
increase in property sales

2017 Q2 Spanish property market report

Figures released late last week by the Spanish Government reveal a 12.5% increase in the number of properties being sold in the Alicante Province in Spain.

The latest data for the second financial quarter of 2017 issued by the Ministry of Public Works (Ministerio de Fomento), show a total of 141,582 properties were purchased throughout Spain.

Continuing a sustained surge in Spanish property sales, more homes were bought in Q2/2017 than at any other time since 2008, with total property sales nationwide reaching €42.9 billion.

The Alicante Province saw a total of 10,905 properties snapped up by buyers, a figure bettered only by Barcelona with 16,733 property sales, and the national capital city Madrid which registered 20,453 sales for the same period.

The latest data illustrates a 12.5% increase in the total number of registered property transactions throughout the Alicante Province over the same period one year ago in 2016, when 9,688 property sales were recorded.

Total property sales for the province exceeded more than €2.5 billion for the second quarter, with an average property purchase price of €233,588.

Locally, Torrevieja recorded 1,374 registered sales during the second quarter, and Orihuela saw sales increase to 1,093 for the same period.

Across the Costa Blanca, the provincial capital Alicante city recorded a total of 1,496 sales, with both Alicante and Torrevieja cities recording more than double the number of sales in Benidorm, which registered just 500 property transactions during the second quarter.

Nationwide, only Spain´s central Extremadura community, and the northern provinces of Navarre and the Basque Country, recorded a fall in the total number of property sales.

Real estate in Spain: continued stability and growth

Earlier this year in April, first quarter data released by Tinsa, Spain's leading property valuation firm, concluded that the average price of residential housing in the Province of Alicante had risen by 11.7% over the same period in 2016.

With continued stability and sustained growth in the Costa Blanca property market, investing in real estate in Spain looks to be a better choice than ever before.

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