Explosion and war in Ukraine forced thousands to flee, displacing families under bombardment from Putin’s forces. The conflict has rippling effects beyond borders, pushing people to seek shelter and new homes in nearby regions such as the Costa Blanca, where some find a vacation base as a safe retreat from the war’s reach.
In Alicante, a wave of foreign buyers has helped fuel a strong real estate year. The Valencian Notary College reports a record year, with a total of 31,691 properties purchased by non-residents — up 47.4 percent from the previous year and an absolute high for the province. The surge is widespread, with significant buying activity led by several nationalities and a noticeable increase in liquidity and willingness to transact during a time of price stability and liquidity in the market.
As noted by the deputy dean of the notaries, the current market dynamics attract buyers from across Eastern Europe and beyond, seeking the relative value and investment potential offered by the Alicante coast. Aerial views show popular tourist towns along the Costa Blanca, including Orihuela Costa, where holiday homes remain a focal point for international buyers.
A decade of data from joint notary collections shows 6,213 transactions by foreign buyers in the area, more than double the 2021 figure and surpassing pre-pandemic levels from 2019. Eastern European buyers now represent roughly twenty percent of the international market in Alicante, a share the sector had not seen before.
Home sales in Alicante reach a new high not seen since 2007
The surge includes a broad mix of nationalities, with Turks and Ukrainians increasing activity. Ukrainians bought 1,036 homes in 2022, up from 376 the year before. Poles, in particular, contributed significantly, totaling 2,217 purchases and becoming a leading international market in Alicante, ahead of countries like Sweden with 2,068 operations.
Polish buyers are especially prominent in Benidorm, followed closely by activity in Torrevieja and Santa Pola. Industry observers note that the Polish segment has grown to become a major pillar of the local market, with Alicante supporters reporting sustained growth in recent years. The war-related spike has amplified these numbers further.
Beyond these groups, other nationalities increased activity as well. Romanians and Lithuanians both doubled their purchases to 818 and 557 homes respectively, Latvians bought 130, Estonians 110, Belarusians 94, and Slovaks 86. Moldova accounted for 52 buyers as well, illustrating a broad pattern of international interest across the Costa Blanca.
Foreign buyers drive a record-breaking market in Alicante
Purchases by Russians were notable despite EU money-transfer restrictions. Notaries highlight that limits on transfers did not stop many investors, who found ways to operate within the system. Russians bought 1,113 properties in Alicante last year, up 28.9 percent, reflecting a migration trend of families seeking distance from the conflict and looking for stability for schooling and daily life in the area.
Notary data show that foreign buyers moved a total of 5.566 billion euros in Alicante in the previous year. The average price paid by non-residents was 175,636 euros per home, about 51.4 percent higher than average prices paid by domestic buyers. British buyers led the international market with 4,678 transactions, followed by Belgians with 2,958, Dutch with 2,753, Germans with 2,703, and Poles with 2,217. Swedish buyers ranked next with 2,068, and French buyers totaled 1,799, underscoring Alicante’s broad international appeal.
The Costa Blanca region continues to attract a diverse set of buyers, including those from neighboring countries and farther afield, who see Alicante as a stable and attractive destination for residence or investment. This ongoing interest helps sustain a dynamic market that benefits from liquidity, economic activity, and the region’s tourism-integrated real estate offerings.