ALICANTE LEADING IN PROPERTY SALES TO FOREIGNERS

ALICANTE LEADING IN PROPERTY SALES TO FOREIGNERS

The Alicante province is once again leading the way in property sales to foreign investors, with figures released by the Ministry of Development revealing that 3,442 sales were confirmed to foreign buyers during 2013.

In the last 3 months of the year, transactions by foreign residents in spain experienced an annual growth for the tenth consecutive quarter, 0.1% from the fourth quarter of 2012, with 13,629 sales. To that figure, we must also add purchases made by non-resident foreign buyers, the total coming to 14,787, or 15.8% of the total.

The figure is also indicative of how the province is of particular value to the property market, given that the region of Valencia on a whole has dropped by more than 10%, and with a national total of 300,349 sales in the year, representing a decrease of 17.4%, it becomes clear that the principle area of growth in the sector is around the Alicante and southern Costa Blanca, as well as the importance of the foreign market.

In fact, not only is Alicante leading the way, it is out in front by some considerable margin, given that Alicante was almost double the next province in terms of sales to foreigners, Málaga, where 1,922 were sold, followed by Barcelona with 1,086, the Balearic Islands with 1,020 and Tenerife with 822.

For its part, Madrid saw a total of 40,201 sales in 2013, representing an 11.2% decrease from 2012, although the city of Madrid saw an increase of 6.8%. In the last quarter of 2013, Madrid saw the highest number of sales in spain with a total of 8,451, followed by Barcelona with 2,946, Valencia with 1,444, Seville had 1,307, and then next on the national sales table was Torrevieja, with 1,063 sales.

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