PROPERTY construction fell by 30% in 2020 in Alicante Province due to the coronavirus pandemic.

Figures from the Alicante College of Surveyors(COAATIEA) show that 5,026 new homes were built last year, compared to 7,143 in 2019.

The biggest drop has been in the southern Vega Baja region with a 50% fall in the Orihuela and Torrevieja areas, where many new builds are aimed at foreign buyers looking for a holiday or retirement property.

The fall on the northern Costa Blanca was smaller at 23%, with 1,261 new homes, down by 378 on the 2019 total.

There is though some cause for optimism with a construction ‘bounce-back’ in the second-half of 2020.

COAATIEA president, Martin Pomares, said: “The last three months of the year saw work started on 1,074 homes in Alicante Province, with a 12.5% rise on new builds in the period between July and September.”

In stark contrast, inland projects across the region actually produced a 40% increase on the 2019 figures.

The Alicante and Elche areas recorded 16% falls in 2020 compared to 12 months earlier.

Subscribe to the Olive Press

This site uses Akismet to reduce spam. Learn how your comment data is processed.