even when sales will continue to increase Number of houses in Alicante? Will second home demand offset the decline in regular home buyers caused by the rate hike? Definitely,already hit the ceiling The new brick explosion that the province experienced after the pandemic?
These are the questions floating around Alicante real estate sectorGiven the certainty that sooner or later the rise undertaken by Euribor and the decline in purchasing power caused by inflation across Europe will impact a record-breaking business last year. recording exercise. And everything indicates that the turning point is approaching, if it has not yet happened.
Data just published Registration College They are a good example of the situation. According to the statistics they prepare quarterly, they registered in the province between January and March. 12,979 house sales, what does it represent Best start of the year since 2007In the same period, 15,586 houses were sold.
However, the figure for the first quarter compared to the nearly 38% increase ended last year. It represents an improvement of only 7.7% compared to the same period of 2022.. In other words, that the business is getting less and less, which indicates that it will already be very close to the peak of the current cycle. Actually, at national level contraction has already started when registering 161,024 transactions, 2% less at an annual rate.
In this sense, the president of Alicante College of Real Estate Agents (API), Marife EstesoNote that Property Records data is often dragged. a little delay -as a certain period of time has passed between the officialization of the sale and its registration- and at street level some shrinkage is already detected in the number of transactions.
Curiously, more so than interest rate hikes or other conditions, Esteso points out: decrease in supply as one of the factors contributing to the moderation of the figures. “So many were sold last year that right now no more the same availability and it costs more to find what you’re looking for”, explains the head of APIs. Of course, as the expert points out, this problem can be alleviated in the coming months by owners who have taken their property out of lease. After the approval of the new Housing Law, the decision was made to put it up for sale on the market.
In any case, Marifé Esteso don’t believe there will be a sudden drop As he recalls, almost half of the market is dependent on foreign buyers, who usually buy cash, so the increase in exchange rates does not affect them to the same extent.
third market
Regardless, Alicante remains as it is for the time being. one of the most active real estate markets country, only passed Madrid recorded 22,356 sales in the first quarter and Barcelona, with 16,423 transactions. behind MalagaWith 10,884 house sales; Valenciawith 9,447; anyone Sevillewith 6,140.
As is customary in recent years, homes second hand those that make up the majority of transactions add 11,176 transactions, accounting for 86% of the total. If their homes new construction a total of 1,803 operations.
Similarly, Alicante was also repeated as a province. higher percentage of foreign buyerswith 43.76%; This is followed by Santa Cruz de Tenerife (34.79%), Malaga (33.51%), Girona (31.71%), the Balearic Islands (29.16%), Las Palmas (23.56%), and Murcia (%). 22.04) followed.
mortgage
One of the indicators that does not already reflect the effects of the increase in prices is mortgages, and above all their amount. According to the statistics of the registries, the average mortgage demanded in the Community of Valencia was 106,869 euros, which corresponds to a decrease of 0.2%. At the national level, it’s already a drop of 4.1%. In other words, given the rise in Euribor, one of the trends is ask for less money including monthly installments.