9.25 per cent rise in Alicante property sales this February
The 12-monthly Costa Blanca property sales total is 9.7 per cent higher than last year
The latest property residential property sales figures which were published on Monday morning by the Spanish government show a timid increase of just 1.2% in February in comparison to the same month in 2016, but the good news for the Costa Blanca is that in the province of Alicante the recent growth in the market was maintained.
The monthly total of 2,824 sales not only represents a rise of 9.25% in comparison to February 2016, it is also the highest monthly total since April 2008 – and this is despite the fact that the month contained only 20 working days, one fewer than in 2016. Further illustration of this ongoing buoyancy in the residential property market in Alicante is provided by the fact that after two months of 2017 the cumulative total now stands at 5,522 (up by 11.6% compared to last year), while the running 12-monthly total of 30,089 is 9.7% higher than it was a year ago.
Furthermore, while the average number of sales per 100,000 inhabitants of what is considered by the central statistics unit to be house-buying age during February was 97 across the country, the Comunidad Valenciana was by far the most active regional market by this measure with a figure of 139, and in the province of Alicante the equivalent level of activity was around 185, close to double the national average.
In Spain as a whole there were 35,610 residential property sales registered in February, with the most significant increases being those of 14.9% in La Rioja, 9.9% in Castilla y León, 8.7% in Catalunya and 4.9% in the Comunidad Valenciana. However, the year-on-year decreases included those reported in the Basque Country (15.7%), Cantabria (9.6%) and Galicia (5.9%).
The increase of 1.2% in sales activity during the month may appear timid, but the broader picture still shows the ongoing bounce-back effect following the slump in the market which began in late 2007. Over the course of the first two months of 2017 the cumulative total was 9.3% higher than last year at 74,067, and the running 12-monthly total now stands at over 410,000, its highest level for six years.