Costa News Spain Breaking News | English News in Spain.
Just over half of the property sales in Alicante province last year were made to foreign buyers.
The Valencia Notary Association reported that the number of non-Spaniards who purchased goods grew by 0.7% to 30,290. This represents 50.6%.
In the last year, foreigners purchased two of the three new builds in the province. This province represented just over 20% all the property transactions in Spain.
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British buyers led the list with 3,545 deals, but this was down 10% from the previous year.
Germany and France, the other traditional markets, also declined.
The total figure was however boosted by the large increase in homebuyers from Eastern Europe.
Polish buyers are now the 4th largest international client in the Alicante property sector. They will buy 2,850 properties by 2024, which is 32% more than last year.
Five times as many sales are now being made to buyers in Poland than there were before Covid-19.
Lithuanians bought 611 houses, which is a 32.2% rise. Other countries with borders to Russia also saw big increases in percentage.
A strong market was also seen in the Netherlands, where sales grew by 20%. However, Belgium’s neighbouring markets dropped by only 3%.
The average outlay by foreign buyers was just over €198,000 per home, according to the notary figures.
That’s 12% up on 2023 and around €67,000 more than what Spanish buyers paid in the same period,
The bottom line is that home sales to foreigners last year generated more than €6 billion in Alicante province for the first time, surpassing the previous record in 2022.
As a comparison, exports from the area’s industries and agriculture totalled nearly €7 billion last year.
