The Alicante real estate sector continues to flourish in 2023. Although the activity figures for the second quarter point to a slight slowdown (common across the entire country), the cumulative data for the first half of the year significantly improves over the same period in 2022, when the sector had already marked record figures since the 2008 financial crisis.
According to data from the Land Registry Statistics provided on Tuesday by the College of Registrars, a total of 25,601 homes were sold in the province of Alicante during the first half of 2023, representing a 6% increase compared to the first half of last year when 24,192 homes changed hands.
The quarterly comparison does indicate a slight decrease: home sales fell nearly three points in the province between April and June compared to the January to March period. However, the drop is the smallest of the three Valencian provinces and is below the national average, where the decline is five points according to the statistics.
With a clear predominance of used homes over new ones, a ratio that has remained unchanged since the real estate recovery began in 2014, Alicante once again ranks as the third Spanish province in the number of transactions, behind Madrid and Barcelona. Once again, it is also the leading province in sales led by foreigners.
The pull of international demand is indeed key for the Alicante real estate sector to maintain its pulse: foreigners buy almost half of the homes sold in the province, with a 45% share in the second quarter. Regarding the types of homes sold, 10,863 were used (third province) and 1,759 were new (fourth, nearly tied with Málaga).
The annual data, from June 2022 to June 2023, is also positive: a total of 51,386 homes were sold in the past twelve months, again the third-best figure in the country, with a growth of 16% over the same previous period. Specifically, 6,746 new homes (+15%) and 44,640 used ones (+16%) were sold.