Overview of the property market in Alicante Province

[Bee]

Link to an article on an overview of how the property market in Alicante Province is performing from Spanishpropertyinsight. Bee

https://www.spanishpropertyinsight.com/ ... -137951385

[Carl]

Thank you for the link to the article Bee.

I think the conclusion supports what most people connected to this area already know, low demand for real estate and oversupply of homes.

From the graphs in the article the demand for real estate by foreign nationals has been decreasing month on month, and it mentions low demand amongst locals too, so the question is what justification is there for all these large new developments in the area and who are going to buy the properties ?

I think this statement was quite straight to the point - “the popular area inland from and North of Torrevieja, has suffered from considerable repeat flooding, so that owners and potential buyers will be concerned at the prospects of what Climate Change might bring”. Is this area not due for a large scale residential development ? I'm sure sellers and potential buyers in that area will be looking for some reassurance that the flooding issues will be addressed.

The other point I picked up on was that developers are struggling to sell properties and are reluctant to reduce their prices to increase sales, because existing buyers would expect to be treated the same.

[Bee]

I have to admit I didn't realise the Costa Blanca/Alicante Province attracted more buyers than the Costa del Sol/Malaga. I would have lost that one if it was a quiz question. I guess none of the promoters/developers in the recent flooded areas will be advertising the fact that "this area was under 8ft of water during the last DANA so you won't need a swimming pool"

Bee

[freddo]

I bet they do not show them this article
https://www.theolivepress.es/spain-news ... years-ago/

[Bee]

Great map Fred. You will be unlikely to find it on any Estate Agent's site.

Bee

[Retire1day]

At the top of its property boom, Spain was building more houses than Germany, France and the U.K. combined.
Too many properties still being built. I think they could not build one property for the next ten years and there would still be empty ones. Extreme oversupply means you can't sell and very low prices.
Also, a lot of people keep saying Spain will not miss UK buyers, this shows they will. Many will not buy as they know they cannot live there one day.

[Graham Knight]

Why not ?
I know several people who not only lived in Spain pre EU, but also were in business here..
One of them ( now deceased ) came to live and work in Spain, in the last couple of years of Franco's reign.

[Graham Knight]

The Chinese, Russians and many other nationalities that live ( and many work ) here in Spain, come from countries outwith the EU.

[briggsy]

Bit of a strange situation in Spain regarding construction of residential properties.

There was an article last week or maybe the week before quoting a report that had just been issued by an organisation in Spain stating that there was a shortage in construction of residential properties in Spain and supply was not keeping up with demand. They also referenced lack of affordable housing as well.

If the report by this organisation is correct and the overview linked by Bee is correct in its statements, then it would seem that whilst there is a demand for residential properties in Spain the Alicante Province is not where they are needing to be built.

[Retire1day]

For most UK people as it stands they will not be able to move to Spain down the Road. Of course if you have enough money you can move to most Countries, in Spain the income level is €25k for first person and €5 or €6k for additional adults. When I purchased my first holiday home I did not know if I would want to live there 30 years later and others may decide not to purchase because of that very point if they think they cannot. I think British people buying holiday homes will drop there and it really is not an investment with money but it is an investment in the quality of life.