THE LATEST OFFICIAL Government data shows that international buyers snapped up more than 100,000 homes in Spain in the first three quarters of last year, setting new records for property sales on the Costa Blanca at the start of the 2023 financial year.

The data, released on Monday by the Ministry of Transport, Mobility and Urban Agenda (Ministerio de Transporte, Movilidad y Agenda Urbana), notes a total of 101,460 properties were sold to international homebuyers between January and September 2022.

The figures represent an increase of 44.3% more property sales than the same three quarters of the previous year, with national sales increasing 22.9% in the third quarter alone, with 32,701 recorded sales to non-Spanish nationals.

Nationwide property sales increase 11.8% in November

The College of Property Registrars (Colegio de Registradores de la Propiedad) also released their latest data on Monday, with the registry statistics confirming that nationwide total monthly sales of Spanish property for November 2022 showed an increase of 11.8% over the same month the previous year.

A total of 99,286 property sales were recorded across the country in November, with the Valencian Community spearheading the nationwide sales leaderboard marking a 24.1% in home sales over November 2021.

Data for October shows a similar story, with the latest figures from the INE (Instituto Nacional de Estadística) noting that registered home sales increased 11.4% throughout Spain, with the Valencian Community recording a 17.4% annual variation compared to the same month in the previous year.

Spanish house prices continue to rise 5.0% in December

Spanish real estate portal, Idealista, reveals that house prices in Spain continue to climb, with nationwide property prices increasing by 5.0% in December with an average price of 1,921 €/m2.

The annual monthly increase was more notable in the Valencian Community with an increase of 10.4%, and the site reports a 13.2% price increase for properties in the Alicante Province.

Locally, Orihuela recorded an increase in house prices of 16.7% to 2,208 €/m2 compared with December 2021, and our neighbouring municipality of Torrevieja shows an annual incremental variation of 14.1%.

Spanish property market sets new summer records

The property market broke records over the past summer, recording a total of 328,208 home sales between January and June - numbers not seen for more than a decade since the beginning of 2008.

Sales to international buyers reached a newly recorded high in the first half of 2022, with non-Spaniards accounting for 14.7% of the total sales transactions in the second quarter.

The Spanish property market recovered from the financial impact of the global pandemic in July 2021, and quarterly sales to international buyers have not dropped below 16,000 since that time, with the third quarter of 2022 showing 26,728 sales to international homebuyers.

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