PROPERTY SALES SHOWING CLEAR GROWTH

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The sale of homes to foreigners is still recovering after the recent slump, with the Alicante area leading the way in Spain, with 2,485 units sold in the first quarter, a considerable increase on the second places province of Málaga, where 992 properties were sold.

There had been concerns over the implementation of the new Energy Performance certificate, but this does not seem to have posed an actual problem in terms of property sales, as the numbers are consistent with the anticipated growth of the market.

Perhaps not surprisingly, the reason for the increase on the Costa Blanca has been put down to the price, with the average sale being valued at 108,328 to foreign buyers, a saving of 45,000 euro on the 153,727 average cost in 2010.

There is clear evidence that the gap in the market in terms of savings is closing and starting to turn, and with 81% of all property sales in the area being attributed to foreign buyers, the British, German, Scandinavian, Russian and Algerian markets are still growing steadily.

A total of 8,940 homes were sold in the region during the first three months of this year, of which 2,861 were acquired by foreigners, and of these, 2,485 were sold in the province of Alicante. In the period between 2010 and 2012, 2,127 homes were in Torrevieja, whereas 1,888 were in Orihuela, with the growth being clear in both these internationally diverse areas.

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Filed under: http://www.theleader.info/article/39890/

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