Alicante has become the leading province for property sales with a registered closure of 9,200 properties in 2011. The majority of these sales were aggressively reduced priced homes to mainly Russian, Norwegian and British buyers, with the local market arriving closely in fourth place.
The most recent reports also state that Alicante has closed over 10,730 sales within the whole of the Valencia community, which puts the figures above the 9,300 sales in 2010 and 7,400 in 2009. Not bad really considering the current economic situation.
Reports also state that the overall property sales prices in 2011 are marginally higher than previous years, however were taken using the average sales prices as the figure to base their study on. The fact of the matter is that property prices in the Alicante area and many other areas of Spain, have continued to drop and in most cases only emergency sales at aggressively low prices have actually sold. (*Depending on how the statistics have been calculated property prices have dropped 18% in the Alicante area between Feb 2011 - Feb 2012 and as a national statistic as much as 8% between March 2011 and March 2012.)
Market prices do seem to have stabilised slightly in the first quarter of 2012 and the cost to buy a property in comparison to previous years is more attractive than ever.
At this time the Alicante province
represents around 30% of all property sales transactions in Spain, with leading buyers from Russia, Norway and Great Britain. Other Spanish provinces that have also closed a larger numbers of sales are the Balearic Islands and Malaga.
Now is the time to start putting the ball in motion. 2012 is a great year to invest in Spain again!! Study the form, do your homework and take advantage of the opportunities that are here waiting for you. Are we facing the dawn of a new property market …?
*Stats taken from studies made by leading property portals in Spain who have monitored the evolution of property prices that have been registered and modified by their users. We also asked several Spanish estate agencies about the property prices over the past 12 months. All have stated that property prices have continued to drop in their area)
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