Spain has been popular with foreign property investors for many years, with the nation often bucking global downwards trends; now, real estate agents are popping up in Alicante at a rate similar to before the financial crisis in 2008, indicating that the province is once again set to be one of Spain’s top-ranking property markets.
The property market in Alicante is booming again, with many agents noticing a high amount of activity, both from sellers and buyers. When figures for the number of sales per 1,000 residents are looked at, Alicante ranks the highest of any Spanish province. The head office of the Property Registry revealed that Alicante is currently Spain’s most dynamic province for buying and selling, with 4.02 sales per 1,000 residents. This is the highest ratio in the country.
In the latest report it was revealed that the third quarter of 2015 saw some 92,786 sales across the entire country. The property market continues to excel month-on-month and the latest figures have reached a peak after ten consecutive months of gains. The latest data on sales transactions is also 6.42% high than the number conducted during the second quarter of the year and 16.6% higher when compared with the same period during 2014.
Unsurprisingly there are both regional and provincial variations when it comes to sales numbers. Cataluña, Andalucía and the Valencia Region have noted some of the highest sales figures, while provinces that continue to excel include Malaga, Alicante, Madrid, Valencia and Barcelona.
Not just domestic growth is fuelling the market but also overseas investment. People continue to flock to the Spanish property market, both to gain property for themselves as second homes and holiday destinations and to take advantage of the nation’s lucrative lettings market; overall, 13.5% of all the sales during 2015’s third quarter were due to foreign investment. This is almost 1% higher than the figure for the second quarter, when the months between April and June noted an overseas investment total of 12.8%. The hive of activity currently taking place in Alicante can be attributed largely to foreign investment.
Foreigners continue to hail from a variety of nations. British investment remains at the top of the rankings, with 23.1% of foreign investment coming from UK shores; meanwhile, the Scandinavians are also keenly interested in Spanish property, making up 10.5% of investment. When looking at the data for the number of sales per 100,000 residents of a foreign nation, however, it is actually Sweden that ranks number one, with a ratio of 8.4. Norway comes in second place with 7.7. Swedish investment in Alicante also rose dramatically for the third quarter, gaining by 10.2% when compared with figures from the year before.
Spain continues to be a hot prospect for foreign investment, with places such as Alicante topping the popularity poll. While not always the most affordable market, it is certainly one of the less risky options.