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Date Published: 03/04/2023

ARCHIVED - Alicante province leads the way in property sales per inhabitant in Spain

ARCHIVED ARTICLE -

25.99 transactions per thousand residents were registered in Alicante province in 2022, double the national average

<span style='color:#780948'>ARCHIVED</span> - Alicante province leads the way in property sales per inhabitant in Spain

Alicante province led the relative real estate activity in Spain in 2022 with the most homes sold throughout the country in proportion to the number of inhabitants.

Having been pipped to the top post by Malaga in 2021, the province has once again reclaimed first place in the property sales ranking.

The latest Statistical Yearbook prepared by the Association of Registrars confirms an 'exceptional year', largely thanks to the pull of foreign demand.

In absolute terms, registrars recorded 49,977 property transactions in Alicante last year, which represented an increase of 37.9% over the previous year.

This figure consolidates the province as the third with the highest total volume of transactions, behind only Madrid, with 83,388 transfers, and Barcelona, with 66,537.

However, in terms of relative activity, that is, the volume of sales and purchases in relation to population, Alicante province clearly leads the 2022 ranking by registering 25.99 sales and purchases per 1,000 residents, almost double the national average of 13.8 transactions per 1,000.

Malaga recorded 24.12 per 100,000, ahead of Madrid with 12.22 and Barcelona (11.76).

Also read: Brit property owner in Alicante unable to sell due to government over-valuation

This indicator of relative activity is often used as a way of measuring the liquidity of a market, i.e. how easy it is to sell a property in a given area. It is a particularly important parameter in areas with a high level of second homes, as it tells potential buyers that they will be able to resell should they need to recoup their investment.

Together with Alicante and Malaga, the provinces with the highest relative real estate activity are Almeria, with 20.75 transactions per 1,000 inhabitants; Castellón, with 19.55; Tarragona, with 19.13; and Girona, with 18.96.

In contrast, the provinces with the lowest liquidity are Orense, with only 6.23 transactions per 1,000 residents, Pontevedra, with 7.44, and Lugo, with 8.02.

Much of the dynamism of the Alicante property market is due to international demand, according to data from the registrars. Last year, the province was the area where foreigners accounted for the highest percentage of all buyers, with 41.75%, followed by Santa Cruz de Tenerife (34.95%), the Balearic Islands (34.38%), Malaga (33.48%), Girona (28.21%) and Las Palmas (22.55%).

In terms of prices, the square metre of declared operations was paid at 1,608 euros, 5.8% more than in the previous year. However, Alicante as a whole remains a relatively cheap area in which to buy a property, as the national average was 1,944 euros.

The statistics also reveal the differences that exist within the province itself, with much higher prices in the coastal municipalities. Specifically, the towns with more than 25,000 inhabitants with the most expensive square metre in Alicante were Javea, with 2,519 euros; Benidorm, with 2,466; Altea, with 2,203; Calpe (2,168); El Campello (2,121); and Denia (1,993).

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