Costa Blanca Overtakes Costa del Sol In Overseas Property Sales

September 24, 2006

For the first time on record, the Costa Blanca has overtaken the Costa del Sol as the area in mainland Spain where most properties are sold to foreign citizens.

Figures released this week by the Spanish Ministry of Housing shows a spectacular rise in the number of homes purchased in Alicante province by foreign people – including residents and tourists, both EU and non-EU nationals.

Property purchase in Alicante province now represents 20 per cent of all that made by foreign citizens in Spain. In the whole of Spain, sales to foreign citizens represent 28 per cent of the total figure with a turnover of around 2,400 million euros per year.

Promoters say the sales to the British market have slowed down considerably and are awaiting the recovery of the German market, which due to lack of land in the Balearics could give another boost to Costa Blanca sales.

For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca, visit the Novocasa website.