Buyers continue to be drawn to the blue flag beaches of the southern Costa Blanca
The Vega Baja region remains the most attractive area for foreigners seeking a second home in Spain’s Alicante region. Specifically, Torrevieja and Orihuela Costa continue to lead this segment of the real estate market – so much so that these two towns alone account for a third of all transactions by international buyers in the region. This is according to the latest data provided by the Valencian Association of Notaries.
Figures for 2022
Sales of houses to non-Spanish buyers continue to be a multi-million euro sector in the Alicante region. Figures for last year, available for the period between January and September, reveal that 23,920 properties were bought by ‘foreigners’. Of these, 4854 were in Torrevieja – an increase of 96% over the same period last year and up to 57% higher than pre-pandemic figures. Swedish buyers were the most active buyers in Torrevieja but reports indicate that purchases by German nationals are also on the rise.
Orihuela Costa
Orihuela, specifically the Orihuela Costa (the area around La Zenia and Cabo Roig), is also hugely popular with foreign buyers with 3396 properties bought between January and September 2022. This figure represents an 85% increase on the same period in 2021 and is 43% higher than pre-pandemic figures. In Orihuela Costa, British buyers lead the way, followed by Belgians.
Outside of the Vega Baja area, Alicante itself also boasts significant investment by foreign buyers with sales of 2231 properties between January and September. Algerians, Russians and Ukrainians are top of the list in terms of property purchases in the provincial capital.
The profile of buyers in Torrevieja and Orihuela Costa indicates that property sales in both of these areas continue to be driven by residential tourism.