Foreign buyers in Alicante have shown a notable surge as the province continues to attract international interest. The social shifts brought on by the demand pause and the lockdown period during the pandemic created a real crisis, yet a rapid rebound emerged, placing the Costa Blanca at the center of a thriving market once again.
In the first nine months of 2022, real estate transactions involving foreign nationals became highly active. The total value recorded across the country reached 4.238 billion euros, according to data from the Valencia Notary College. This figure already surpasses the totals of the entire previous year, with Alicante contributing significantly. The value represents a rise of up to 80 percent compared with the same period in 2019, before the pandemic, illustrating a strong return of international investment to the region, including a robust contribution to the local economy through related spending such as renovations and furnishings. This pattern was repeatedly emphasized by industry observers who highlighted the broader economic impact beyond the initial purchase price.
“It has been an extraordinary year,” noted the deputy dean of the Alicante Community notaries, Delfin Martinez, who also underscored the substantial injection this activity provides to the Costa Blanca. He urged stakeholders to protect this momentum so it remains sustainable. The emphasis extended beyond the purchase itself to the ongoing economic activity generated by the buyer’s expenditures, which historically helps stabilize demand during periods of crisis. This perspective was shared by market participants who view the trend as a resilient resource for the region.
The 2022 surge stems from both a higher number of transactions and an elevated average price. Data from notaries who processed these deals show that foreigners bought 23,920 homes between January and September, compared with 21,930 sold to Spaniards in the same period, a figure that outpaced the market’s national total within the province.
This volume represents a 69 percent increase over the prior year and is 46 percent higher than the pre-pandemic period in 2019, even as travel restrictions remained in some form. This dynamic highlights how international demand rebounded strongly in the Costa Blanca market.
Masks
Average transaction values rose notably as well. The average price for a foreign-bought home in the province before Covid hovered around 144,157 euros. In the first nine months of 2022, that average climbed to 177,213 euros, and when focusing only on the third quarter, the average price reached 182,645 euros. These numbers reflect sustained demand at higher price points and the resilience of the market in the face of ongoing global shifts.
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The market share captured by second-hand properties remained dominant, accounting for the vast majority of transactions at affordable prices compared with new builds. A notable portion of the growth also came from detached homes such as chalets or bungalows, which now represent roughly 35 percent of the international segment on the Costa Blanca.
Across the nine months of 2022, Alicante accounted for about one-fifth of all foreign purchases in Spain, underscoring its status as a clear magnet for international buyers. Industry leaders highlighted Alicante’s well-developed international sales network as a key competitive advantage that continues to draw buyers from many countries (Provia, the Association of Provincial Organizers).
According to countries
Looking at national origins, the United Kingdom remains a leading buyer in Alicante despite Brexit and related changes, totaling 3,599 purchases through September, up 71 percent from the previous year and 14 percent above pre-pandemic levels. Belgium follows with 2,204 transactions, showing solid growth of about 42 percent year over year and 29 percent versus pre-Covid figures.
Two other notable evolutions over the past year came from the Dutch and German markets. The Dutch buyers added 2,099 transactions in nine months, a rise of 164 percent from the pre-pandemic period. The Germans followed with 2,078 purchases, up 128 percent, reinforcing the Costa Blanca as a diversified international destination.
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Sweden registered 1,683 sales, up 24 percent from 2019 figures, while France logged 1,399, a 39 percent increase. Among those showing a dip were Russians, due to sanctions related to the war in Ukraine, with 736 transactions, 24 percent less than the prior period. Norwegians also faced a decline, with 692 deals, though the market is recovering from 2021 levels.
Ukrainian buyers surged as displacement from the conflict prompted new purchases on the Costa Blanca. Data from the Valencian Notaries Union show 709 transactions through September, nearly three times the 2021 level and approaching the 2019 figures, with Estonia and Latvia also contributing small but notable activity (Estonians 79, Latvians 88).