House sales in the province are rising rapidly and reaching 2007 levels

This Alicante real estate market Recorded the first quarter of the year record. according to statistics Registration CollegeUntil sold in the province between January and March 12,046 housesThis represents an increase of 52% from figures for the same period last year and more than 28% from pre-pandemic figures.

In fact, the increase is so important that it is necessary to go back at least 15 years. summer 2007, according to the same sources, to find more transactions in a single quarter before the housing bubble burst. That’s yes, with a notable difference: then a large part of this “explosion” is, new construction houses, Monopolized about 45% of the market, currently the biggest hero second hand88% of all transactions are recorded.

Despite these figures, industry professionals exclude the existence of a new bubble, at least for now, and point out that various factors combine to explain this new bubble. trade boomwhich started to be noticed after the end of the quarantine but hasn’t stopped increasing its pace since then.

A client looks out the window of a real estate agency in Alicante. COLUMN CORTES

“There suppressed demand and interest rates Mortgages are still low, they’re still accessible, and people considering buying a home want to take advantage of them before they go up,” said the president of Alicante College of Realtors (API). Marife Esteso.

covid effect

It should also be added that “covid effect”, that is, the demand created by those who decide to move house. increased comfort and a higher quality of life after spending months and months in a very small apartment. Moreover, since the end of restrictions and the reopening of all borders, it is a demand that returns have been added. foreign buyers, that even the outbreak of war could not contain it. On the contrary, as the managing partner of Grupo Casamayor explains, Peter CasamayorThe conflict has even resulted in an increase in the arrival of buyers of some nationalities, hitherto not very common in the state. poles.

To all this must be added a considerable presence. savings bag not finding profitability in financial products and took shelter in the brick againSeeking stability that the stock market or other forms of investment do not offer. “A lot of things are bought to rent it and get a good return. Alicante customers, most of them enter madrilenos and others northern states“, says the owner of Ábaco Servicios Inmobiliarios, Juan Carlos SempereReminding that current flat prices and high rents paid make it possible to exceed 5 percent returns with relative ease.

The combination of all these factors supported the number of home sales in the province, especially as the pandemic situation began to improve from the second quarter of last year. didn’t stop climbing. Thus, from 7,901 operations in the January-March period of last year, it reached 8,280 in the second quarter, 9,925 in the summer months, and 10,000 in the last quarter of the year.

A figure that has been hammered again at the beginning of 2022 with the said 12,046 operations. This figure amounts to Alicante as follows: The third province with the highest transaction volume Across the country, it is just behind Madrid with 22,356 and Barcelona with 16,423. Across Spain, 164,299 homes were sold in the first quarter of the year; this is 27% more than the same period in 2021.

Of the total properties sold, 10,499 were second-hand, 88% of the total compared to 1,547 newly built homes representing another 12%.

second quarter

Regarding the evolution in the second quarter, the professionals consulted agreed that: high activity rate is maintained in the real estate market, where the numbers at the beginning of the year will likely be surpassed again. Yes, where there is no coincidence, tightening financial conditions Given the increase in Euribor, organizations are already starting to apply. Thus, some, such as Pedro Casamayor, anticipate a certain “cooling” of the market as a result of the higher interests buyers will have to face, while others, such as Juan Carlos Sempere, believe that the increases are not significant enough yet. an important effect.

Source: Informacion


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