Up to 40% of real estate transactions for foreigners in Spain were in Alicante

Up to 40% of real estate transactions for foreigners in Spain were in Alicante

The province of Alicante retains its leadership in the tourist housing sector in Spain. According to the data of the Provincial Association of Real Estate Developers (Provia) for the first half of the year, even then Alicante left its competitors far behind.

Provia data was taken from sources of the Ministry of Transport, Mobility and Urban Development (Mitma). Already in the first half of the year, the indicators for the province were quite clear. At the national level, the Costa Blanca was particularly noted, and which accounted for up to 40% of sales of tourist real estate to foreigners. Its main competitor is the Costa del Sol in the province of Malaga, which accounted for 24%.

The coast of Alicante as a whole feels more than confident in the market, leaving behind its competitors like Costa de Valencia, Costa Calida, Costa Brava and the Balearic Islands, which accounted for 36% of sales. Provia used this data to demonstrate to the President of the Generalitat of Valencia, Joaquin Puig, the importance of supporting the tourist housing sector in the autonomous community.

Alicante demonstrates that this market segment can be a good engine of economic growth for a region that is extremely competitive even at the pan-European level. Companies of the local real estate market also turned to Poig, supporting Provia that it would be extremely useful for local authorities to pay attention and support this segment of the market.

Timely support will not only help the market and business itself, but will also support the construction sector of the region and create many jobs. Assistance to the sector is also important from the point of view of the development of the tourism industry of Valencia, and not only the construction sector. The new tourist property will support the existing fund of hotel facilities.

Housing tourism has great opportunities to generate large incomes, including for the state, especially from the calculation of attracting wealthy foreign buyers.

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