Housing market still growing on the Costa Blanca

According to today’s edition of El Información, Alicante’s local newspaper, the housing market on the Costa Blanca continues to grow thanks to demand from foreign residents and tourists.

A report commissioned by the Association of Building Promotors and Constructors (Asociación de Promotores y Constructores de Edificios (Apce)) and released yesterday claims that Alicante leads the list of most popular Spanish provinces among non-Spanish property buyers in Spain.

According to the report, tourists from abroad currenty own about 300.000 holiday homes in the province of Alicante, a figure which is expected to rise by 26.32% over the next four years. House sales to foreign tourists or residents in the Costa Blanca are estimated at 65.700 during the same period (2004 – 2008).

On the other hand, this season has not been a good one for hotels in the region – few Costa Blanca hotels have reached 100% occupation.

Hotel management representatives consulted by El Información blame this year’s relatively poor figures on the fact that more and more tourists who come regularly to this area of Spain are being attracted by the possibility of purchasing a holiday home instead of going to a hotel year after year.

Related links:

Property market in Spain

Property for sale in Spain

Property to rent in Spain

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