House sales back to pre-crisis levels

ALICANTE: Double figure percentage rises for house sales in September Photo credit: Wikimedia

RATES of house sales in the Alicante province have increased by almost 15 per cent in the first nine months of the year.

Data released by the Spanish Statistics Institute (INE) shows that between January and September (inclusive) 26,249 houses were sold in the Alicante province and returned the highest figure since 2008.  The cities of Alicante, Benidorm and Dénia are also where the prices of apartments have increased the most.

The real estate market has been strengthened by the pull of foreign buyers who still look to the Alicante province as one of their first ports of call when looking for a second or retirement home.  This is coupled with a noticeable recovery in the domestic market with people across Spain looking to buy in the area and has helped the increase of 14.6 per cent compared to the same period last year. For the month of September, the increase was lower at 6.3 per cent.

These encouraging figures allow Alicante to remain as the third Spanish province with the highest number of house sales, second only to Madrid and Barcelona, and also above other cities of large populations and popular tourist destinations such as Valencia, Málaga, Balearic or Canary Islands.

Even with the recent figures showing similar levels to those before the recession hit in 2008, the volume of house transactions is far removed from those experienced during the boom years when 40,000 purchases were common.

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