The real estate market in Alicante Province and the Murcia region has produced the best figures in almost a decade, according to the National Institute of Statistics (INE).
The figures for Alicante Province show that between January and September this year, over 26,000 properties were sold, which is nearly 15 percent more than in the same period of 2016, with the September rise being over six percent compared to a year earlier.
It’s the fifth straight year that real estate sales figures have climbed in Alicante Province since reaching a low during the back end of the recession in 2012. The figures have now reached the region of where they were in 2008, but still below the “boom” time returns where 40,000 properties were sold per year.
Second-hand apartments are accounting for 83 percent of the Alicante Province sales, with the rest being ”new builds”.
The INE says that so far this year, the Murcia region has seen a rise over nine months of eleven percent, at just over 10,000 sales, with the September specific figures showing a dramatic 27 percent leap compared to where they were a year ago.
Nationally, the figures are up almost 14 percent, with a combination of foreign buyers and increased domestic demand said to be fuelling the rises. Companies like the BBVA bank and constructors Taylor Wimpey say that they expect the upturn to continue after a successful year.