We have had a very busy start to 2023 here at Benigest Real Estate, with a sharp rise in both property enquiries and the number of property sales in the first quarter of the year, and one thing is for sure it is not showing any signs of slowing down soon!
If you have plans to buy or sell a property on the Costa Blanca in the coming months, we have put together a round-up of what has been happening in the Spanish property market in the first quarter of 2023…
Highest number of properties sold in Spain since 2007
There has been an increase in the number of properties being sold in Spain so far this year, with property sales rising by 14.7%. This was despite an annual fall in December of last year to 10.2% due to rising interest rates.
2022 saw the highest number of properties sold in Spain since 2007 – something that we have definitely seen over the past 12 months, with more interest from buyers than ever.
Most Spanish property sales were in the Valencian Community
The Valencian Community was the biggest area in mainland Spain for property sales in 2022, with most properties being sold In Southern Costa Blanca.
The Costa Blanca is always a very popular location, particularly with foreign buyers, mainly due to the all year-round good weather, excellent quality of life, more affordable properties, and the numerous health benefits that come with living by the sea.
Spain named fourth best country in Europe for property investment
Spain has always been a popular destination for buyers looking for holiday lets, with many homeowners wanting to capitalise on Spain being one of the most visited countries in the world. For those looking to invest in property or buy a holiday let in 2023, Spain has recently been named as the fourth best European country for property investment this year (up from 7th last year), just behind the UK, Germany and France. If you are searching for the ideal investment property on the Costa Blanca, talk to the team here at Benigest Real Estate. We will guide you every step of the way to help you find your home on the Southern Costa Blanca.
Shortage of properties for sale
In our local area, stretching from the coast of Orihuela Costa right up to Alicante and inland, we have been receiving a lot of enquiries for all types of properties across all budgets this year. This means that we are urgently requesting properties for sale, from apartments through to villas! We have many clients waiting to buy their new dream home, with budgets ranging from 50.000€ up to 450.000€.
If you have a property to sell on the Costa Blanca please get in touch with the team, and if you are looking to buy a property in Spain, take a look at our list of properties here.
