RUSSIAN BUYERS PURCHASE OVER 4500 HOMES ON COSTA BLANCA

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If you are aware of an increase in the number of people speaking Russian in the area that’s because people of that nation have now invested more than 1,000 million euros in property in the province. In the last three years Russians have acquired more than 4,500 homes on the Costa Blanca, which puts them at the top of the table for the sale of properties to foreigners on the Costa Blanca.

One of the keys to their draw is the attractiveness of the Alicante coast where, in the last 3 years, Russian citizens have spent nearly 900 million euros on the purchase of homes, many of them at the high end of the market.

To this figure we must be added the value of the property acquired in the first six months of the year, so that the total investment in that three year period now exceeds one billion euros.

The purchase of property by Russian citizens in the Region has increased considerably over the last years. In 2010 they acquired 1,039 houses , in 2011 the figure increased to 1442, and in 2012 it had risen again to in excess of 2,000.

The Russians are also choosing housing at the top end of the market as seen by their total investment which exceeds that of the British, despite having acquired fewer properties.

But it’s not only the Russians who are doing their best to revive the Spanish Properly market. By municipality, Orihuela and Torrevieja top the Valencia figures of home sales to foreigners living abroad.

According to the Ministry of Development during the second quarter of the year, 3543 property transactions were completed by foreigners while Andalusia recorded 2,363 and Malaga 1771.

In the Valencia Province, the favorite destination for British, Belgian and Norwegian nationals is Orihuela , followed by Torrevieja. Thus, last year, of the 2,294 homes bought by UK citizens in the region, 487 were in Orihuela , 234 in Torrevieja , 182 in Rojales and 137 in Jávea .

In total the British were the foreigners who purchased most homes in Valencia. In the period 2010-2012 they acquired a total of 6,371 homes, representing an investment of 843 million euros.

Following the British came the Russians who occupy second place in real estate transactions with Torrevieja their preferred destination where they purchased 605 homes. A further 202 were bought in Orihuela, followed by Calpe with 123 homes, Alicante with 116, Guardamar del Segura with 108 and Benidorm with 104.

In 2012 Belgian nationals acquired 283 properties in Orihuela, 168 in Torrevieja and 117 in Calpe.

Indeed over the last year home sales in Valencia to buyers from Belgium increased by 102.65 % compared to the previous year.

Of the sales to Norwegians the main focus is in Orihuela with 418 homes and Torrevieja with 312. Other towns that benefitted from their arrival were Alfas del Pi with 140 transactions, Rojales with 122, Santa Pola 98 and Altea 59. During the years 2010-2012, 3,261 people from Norway bought a property in the province.

Other nationalities making significant purchases in 2012 include the French with 1,221 properties, 103 in Torrevieja, Alicante city 83 homes, Peniscola 81 , Valencia City with 80 and Denia with 65.

Purchases by Swedes favour Torrevieja with 465 homes bought in 2012, then comes Orihuela with 235 homes, Rojales with 42, Alicante city with 27, Altea with 25 and Santa Pola with 23 .

Alicante city is the favourite destination of Algerian citizens who, last year bought 753 homes.

In Torrevieja they purchased 133, in Benidorm 55, in Villajoyosa 51 and Elx 48. Of the 15,573 homes that were sold to foreigners in 2012, 1,357 were purchased by Algerians showing an increase of 175.25 % over the previous year .

Filed under: http://www.theleader.info/article/40760/

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