This loss of purchasing power caused by inflation and slowdown of the economy Europe begins to The dent in the international trade of Alicante real estatealthough there are currently numbers they stay positive Thanks to the increase in the operations performed Buyers from Eastern countries. A segment that has already recorded strong growth after the outbreak of the war in Ukraine last year and remains dynamism at the beginning of 2023, according to data provided by the Notaries Union of the Commonwealth of Valencia.
Thus, the total foreign 7,499 houses In the province of Alicante in the first quarter of the year, 4.2% more Compared to the same period of 2022. This is very modest growth compared to the 47% expansion that Costa Blanca’s international market has experienced over the past year, but still positive. Spaniards’ purchases in the same period fell 7.3% to 6,334.
But the truth is that in the international segment Two very different behaviors. on the one hand, decline of most traditional markets Interest rates from Western European countries, where the majority of resident tourists in the province still come under the weight of bad economic data from the general rise in the cost of living and interest rate increases across the continent include them; and on the other hand, the increase Customers from regions close to Ukraine, in most cases, they are willing to find shelter in case of prolongation or consequences of conflict.
In this way English They remain as the foreigners who buy the most housing in the province. 17% less The number of operations, which was 1,116 in the first quarter of 2022, decreased to 924 in the first three months of this year. sales germans (537 transactions); the French they decreased by 18.8% (378); And Dutch6.6% (633).
But undoubtedly the most significant decrease was recorded in the market. SwedishIt fell almost 43% from 582 homes purchased between January and March 2022, to only 337 in the same period of 2023. It is not surprising that the Scandinavian country, which does not belong to the Eurozone, ranks first. where interest rates left negative territoryfelt strongly in the economy.
The only notable exception to this overall decline among Western European buyers is the market. BelgianHE grew by 22.9%until reaching 842 houses sold in a single quarter.
among incoming buyers Eastern Europe most numerous poles, a market that supporters from Alicante have been developing for years, but this was a result of the war in Ukraine when it experienced its true emergence. In this way, they bought up to 526 homes in the region in the first quarter, making them 28% more now. fifth largest nationality, although in some municipalities it is already the first. For example, They overthrew the Swedes in Torrevieja ranking leadership.
As expected, the number of buyers also skyrocketed. UkrainiansIt rose 58% to 363, but as the managing director of real estate company Marsol Internacional recalls, Pedro Menarguezin this case, most of the displaced people from this country choose to lease.
The increase in citizen operations is also remarkable. Russians that despite the obstacles and obstacles they had to carry money, they bought 394 houses, 40% more in the first quarter.
The recovery in operations also reaches other, much smaller markets. purchases like this Lithuanians (138 transactions); double purchases Latvians (31 operations) or Estonians (25) even Moldovans (12).
Drop
In the first quarter, the situation was saved thanks to the withdrawal of these buyers from Alicante, the deputy dean of the Valencian Notary College. Dolphin Martinezguesses The figures for the second quarter will already show a clear trend change, with a global decline in transactions that could exceed 20%, according to forecasts. “economics is psychology and because of the current inflation and bad expectations across Europe, buyers are more withdrawn,” says Martínez.
In this sense, the representative of notaries draws attention to another very important fact. decrease in the average amount of each sale, when it comes to foreigners, it goes from 171,487 euros to 165,431 euros, which shows that budgets are starting to adapt as well.
In the same vein, the general secretary of the Provincial Supporters Association (Provia), Jesus Rosrecalling the extraordinary growth recorded in recent years, considers it normal that there will be a certain “normalization” in the coming months. Of course, in the case of new construction, which represents barely 15% of the market, he believes demand will remain strong and remembers that there is currently no stock.
Dutch pay the highest price
The Dutch buy the most expensive homes on the Costa Blanca, with an average of 255,086 euros per transaction in the first quarter, by nationality, according to notaries data. They are followed by the few Swiss, who pay an average of 227,428 euros for each house they buy in the region. The Chinese, who are very close to them, with 224,114 euros; Norwegians with 211,086 euros; or Belgians with 206,999. The second step will involve the Germans and the British, with 181,693 and 177,262 euros per operation. On the other hand, Moroccans are the ones who make the least investment with only 44 thousand 620 euros for each house they buy in Alicante.