Despite the falling numbers of new-build residential property sales in Spain as a whole and in the province of Alicante in particular, there is still optimism in various sectors that the level of activity is sufficient to make significant inroads into the stock of unsold properties which was left when the property bubble burst in late 2007.
On the face of it the latest statistical bulletin published by Spain’s central statistics unit was not overly positive for the Costa Blanca although it did show continued growth in property sales. The number of property sales registered during February was only 2% higher than in the same month last year at 2,026, while in the country as a whole the increase was 15.5%, although it must be pointed out that the market in the Costa Blanca was recovering well last spring, ahead of much of the remainder of the country. In addition, 77.5% of the Alicante total was accounted for by second hand sales, while the new-build figure was 55% lower than in February 2014 at only 455.
This means that the 455 sales made are still the fourth largest total in all of Spain’s 50 provinces. The only provinces with more new-build sales in February were Madrid, Barcelona and Málaga, and it may be that sales would be higher if more unsold properties remained.
The number of transactions per 100,000 inhabitants in February in Alicante Province was 105. Exactly the same figure was recorded for the Comunidad Valenciana as a whole, making it the most dynamic of the seventeen regional markets in Spain but at the same time indicating that there was not a higher level of activity in Alicante than in Valencia and Castellón, although one of every two second hand properties sold in the Comunidad Valenciana during February was in the Alicante Province.
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