The market for second homes on the Alicante coast has started to show a positive trend, especially in the towns of Torrevieja and Orihuela, mainly due to foreign demand, while in Castellon and Valencia a "phase adjustment" has been maintained.
The latest report on the housing market along the Valencian coast, prepared by the company Tinsa, concludes that Valencia as a whole "is beginning to wake up," except, that is, in a few certain areas of Alicante, where there is an exceptionally large amount of residual stock.
The regional director of Tinsa, Jose Antonio Lopez, said at a press conference last week that the prices in eight locations recorded annual price rises in the first quarter of the year: Jávea (11.2%), the Pobla de Farnals (5.3%), Benidorm (3.6%), Orihuela (1.6%) , Torrevieja (1.4%) and Elche (1%) as well as Benicarlo and Denia, where there has been a very slight increase of 0.5% and 0.2% respectively.
As for foreign demand in the province of Alicante, in 2014 the British market grew by 41% over the previous year, 22% Belgian, Swedish 7% and France with 15%, while the Russian market showed a small decline.
Also in this area the Chinese market, is beginning to emerge with growth of 63% and 243 transactions in 2014.
Orihuela, Torrevieja and Pilar de la Horadada are among the five municipalities with the most building permits, with the first two places also among the five with the highest number of purchases.
Promoter activity has begun to pick up in the Region, and is being especially aimed at foreign buyers who demand high quality housing with a preference for anything on the beachfront. Specifically, Oliva (Valencia), Orihuela, Guardamar del Segura, Torrevieja, Torre de la Horadada, Alfas del Pi, Denia, Villajoyosa, Altea, Calpe and Benissa.
Filed under: http://www.theleader.info/article/47620/
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