Increase in demand for second homes in Valencia region

VALENCIA: Large growth in home sales from across Spain Photo credit: Pixabay

ACCORDING to the latest report on the current estate agent sector carried out by the BBVA bank, a significant increase has been registered in the demand for second homes in the Comunidad Valenciana and the Alicante province in particular.

During the first six months of the year, buyers from other autonomous regions of Spain were the main contributors to the large increase in sales in the Valencian region which hit 26.2 per cent.  This was well above demand from locals totalling 18.6 per cent and 12.4 per cent from foreign buyers.

In total, 39,938 homes were sold in the Comunidad Valenciana between January and June which was also 16.5 per cent more than in the same period in 2016.  By province, Valencia grew by 21.9 per cent – with 15,179 sales – and in Alicante the volume rose by 20,143 and up 13.8 per cent more than last year.

The report also highlighted the importance of the power of international buyers that accounts for around a third of the entire market in the Comunidad Valenciana and almost 50 per cent in the case of Alicante province.

Meanwhile, the price of housing continues to show a steady rise at an average 1.9 per cent compared to last year.  A selection of the municipalities within the Alicante province has bucked the average trend with Calpe (10 per cent), Oliva (8 per cent), Denia (6.8 per cent) and Benidorm (6.4 per cent) leading the way.

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