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Date Published: 11/11/2021

ARCHIVED - Alicante house sales and purchases reach 2008 levels

ARCHIVED ARTICLE

Alicante accounts for 45.15% of residential property transactions in the Valencia region

<span style='color:#780948'>ARCHIVED</span> - Alicante house sales and purchases reach 2008 levels

House sales and purchases in the Valencia region soared 56.1% between July and September compared to the same period in 2020, with 22,177 transactions, up 18.3% on the previous quarter, according to the Real Estate Registry Statistics.

In fact, Valencia is the third autonomous region with the highest number of sales and purchases, behind Andalucía and Catalonia, and its increase exceeds that of Spain, where 154,155 transactions were recorded, a rise of 12.4% compared to the previous quarter.

From July to September, the province of Alicante registered 9,925 transactions (up 19.9%), Castellón 3,086 (up 42.5%) and Valencia 9,166 (up 10.4%).

This means that Alicante accounts for 45.14% of the total number of property sales and purchases in the Valencia region, followed by Valencia (42.25%), and Castellón, with a 12.61% share of the regional total.

Foreign demand for housing during the third quarter amounted to 19.7% of the total – almost double the national average of 10.8%, and only surpassed by the Balearic Islands (34.3%) and the Canary Islands (23.6%).

The most prominent foreign nationalities when it comes to buying or selling in Spain are the British, Belgian, Swedish and French. And once again, Alicante accounts for the majority of this demand with 33% of the total number of transactions, whilst Castellón has a 12.12% share and Valencia 8.42%.

In relation to the type of property most frequently bought or sold in the third quarter of 2021, 21.84% corresponds to single-family detached homes, very close to the record highs reached during the third quarter of 2020, which appears to confirm the trend of looking for housing outside highly populated areas since the outbreak of the pandemic.

The national average for detached house transactions stands at 20.3%.

And in terms of cost, the average price per square metre in the Valencia region during the third quarter reached 1,384 euros, the sixth lowest in Spain despite an increase of 4.8% compared to the previous quarter.

New build housing prices fell by 1.7%, whilst other housing rose by 6.5%.

With regards to new mortgage loans, 63.24% in the Valencia region were agreed at a fixed interest rate, compared to 36.76% with variable interest rates - a historical maximum of fixed rates.

According to data from the registrars for the third quarter, the average surface area of housing in the Valencia region was 101 m2, just one metre less than the national average.

And the average mortgage debt per home fell by 5.13% to 102,135 euros with an average term of 23 years and six months, a decrease of 2.5% compared to the previous quarter.

Meanwhile, mortgage repayments average 453.1 euros, down 0.7% quarter-on-quarter.

Image: Archive

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