The residential property market in the province of Alicante continues to perform well. In January 2023, 4,864 sales were completed, the highest figure for that month in the last 16 years. It is also the third highest figure in Spain as a whole, after the Community of Madrid and the province of Barcelona, where 7,026 and 5,565 transactions were registered respectively.
Over the whole of 2022, almost 50,000 transactions took place in the province of Alicante, 38% more than the year before, the highest growth in Spain. In absolute terms it also came third, after Madrid (83,308) and Barcelona (66,357).
The higher sales volume was driven to a large extent by increased activity from foreign buyers. The British and Scandinavians still dominated among them, but the share of buyers from Eastern European countries also grew significantly, especially from those in the immediate vicinity of Ukraine.
Despite rising bank interest rates, the positive trend continues. In the foreseeable future, neither a significant fall in sales, which could partly affect new builds, nor a decline in construction activity is expected.
