SIGNS of a significant rise in new home construction are emerging in Alicante Province.
Figures from the Alicante Quantity Surveyors, Architects, and Building Engineers Association(COAATIEA) show a 12% rise in new builds in the last three months of 2021 compared to the pre-pandemic year of 2019.
It’s the first time that new constructions have risen above 2019 levels in the region, though the overall annual total is 21% lower than two years earlier.
Work on 1,564 homes started in the last quarter of 2021, compared to 1,463 in 2019.
It’s also an increase on the third-quarter 2021 total which stood at 1,372 new builds.
Construction on 5,618 properties began last year- a rise of 12% on the 2020 total of 5,026 which was influenced by the start of the pandemic and State of Alarm restrictions.
COAATIEA President, Carlos Casas, said: “This increase compared to 2020 is very important if we take into account that 40% of the homes started in 2020 actually were in the first quarter before the pandemic hit.”
“In other words, the number of constructions began in the previous 12 months has increased for the third consecutive quarter, after six consecutive quarters of decreases.”
Diving deeper, the Alicante City area accounted for 29.7% of new housing in 2021, followed by the Vega Baja area on 27.5% and the Marinas Alta & Baja areas on 25.5%.
The Vega Baja traditionally features holiday home developments in areas like Torrevieja and Orihuela Costa.
It is the first time since 2009 that it has not led new builds in Alicante Province, where in 2013 it accounted for 76.3% of the total.
Breaking down figures still further into municipalities, Alicante had the highest growth in 2021 with 1,026, followed by adjoining San Juan at 441.
Elche stands third with 376 properties; Orihuela fourth with 371; and Denia in fifth spot with 345 new constructions.
- PROPERTY: Malaga is the city in Spain where house prices are rising the fastest
- ANALYSIS: How the pandemic practice of working from home is driving up property prices in rural Spain
- A safe haven: As inflation rises and interest rates in Spain stay low, investors turn to new build property
- Costa Blanca is Spain’s number one choice for foreign property buyers