Alex Trelinski
AN APRIL property purchase record has been set in Alicante province according to the National Institute of Statistics(INE).
The property boom shows no signs of abating with 4,167 sales recorded, beating the previous April-best set last year.
It is also the first time that sales in that month exceeded 4,000 transactions.
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Alicante was third in the national sales list, only beaten by Barcelona and Madrid, and ahead of provinces like Sevilla, Valencia, and Malaga.
The historic high was very much down to second-hand housing as new construction levels are failing to meet demand.
The INE said that out of 4,167 operations carried out, 3,491(83%) were second-hand properties, compared to 676 new builds.
As a means of comparison at the height of the previous property boom in 2007, over 1,500 new homes were sold.
Maria Matos, director of studies at property portal Fotocasa, has warned about a ‘serious problem of rising prices, if demand continues to be so strong’.
Matos added that costs are skyrocketing and developers are having problems in finding plots and dealing with bureaucracy.
There are appears to be no sign of price rise slowing, especially with falling interest rates and support of young people getting into the housing market.
“All this will encourage a massive demand for purchases, which will increase pressure on supply, meaning that house prices will continue to rise throughout 2025,” commented Matos.
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