All signs points to Spain’s property market attracting even more international buyers in 2016 than it has in 2015, with the hot spot of the Costa Blanca spearheading much of the interest.
Recent stats show that the median property price in Alicante, the hub of the Costa Blacna, was up 19 per cent year-on-year as of October 2015, while figures for Q2 2015 from Spain’s official registrars show an annual increase in property transactions of 14.73 per cent - ie more people are buying and property values are now rising. Furthermore, the recovering market is being supported by a noticeable jump in domestic mortgage approvals where, according to the National Statistics Institute (INE), approvals in Alicante were up 56.06 per cent in August 2015, compared with a year earlier.
Tourism has been up across the whole of Spain during 2015, with the country enjoying its best summer for tourist numbers for a decade. Looking closer, Alicante-Elche Airport is attracting record numbers of travellers as the winter months approach. The airport has just registered its best October ever, serving 1,027,071 passengers during the month – an increase of 6.3 per cent on October 2014, according to AENA.
New stats from Spain’s Ministry for Employment and Social Security highlight the Costa Blanca’s popularity expats coming to live there, as much as holidaymakers or second homeowners. Alicante province accounts for 25 per cent of all Brits registered as residents in Spain, followed by Málaga (17 per cent) and then the Balearic Islands (9 per cent).
Meanwhile, The Costa Blanca is increasingly being seen as one of Europe's essential destinations for international golfers. The sport has become so important in areas such as Alicante that the Chamber of Commerce will be undertaking a study of golf tourism's impact.