Costa News Spain Breaking News | English News in Spain.
According to the National Institute of Statistics (INE), Alicante has set a record for property purchases in APRIL.
Property boom continues to grow with 4167 sales in April, surpassing the previous best set in April last year.
This is the first month that sales have exceeded 4,000 transactions.
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Alicante ranked third on the national sales list behind only Barcelona and Madrid and in front of provinces such as Sevilla, Valencia and Malaga.
Second-hand houses were a major factor in the historic high, as new construction is not enough to meet demand.
The INE reported that 3,491 (83%) of the 4,167 transactions were for second-hand property, compared with 676 for new construction.
Comparatively, at the peak of the 2007 property boom, over 1,500 homes were sold.
Maria Matos, director of studies at property portal Fotocasa, has warned about a ‘serious problem of rising prices, if demand continues to be so strong’.
Matos also said that costs were skyrocketing, and developers had difficulty finding plots or dealing with the bureaucracy.
With falling interest rates, and the support for young people to get into the housing markets, there is no indication that prices will slow down.
Matos commented, “All of this will encourage massive demand for purchasing, increasing pressure on the supply and causing house prices to continue to increase throughout 2025.”
