Foreign buyers boost Alicante property market amid post-pandemic recovery
International buyers have shown renewed interest in houses across the Alicante province, marking a notable recovery after the demand slump caused by the pandemic and related quarantines. The Costa Blanca, an area traditionally important in this sector, has benefited from a clear upswing in operations during the past year.
In the first nine months of 2022, real estate purchases by foreign nationals surged. The Valencian Community’s Notaries College reported 4.238 million euros in activity for the region, a figure that already surpasses what was recorded for the entire previous year. This level of activity also represents an increase of up to 80% compared with the same period in 2019, before the health crisis. The Alicante province now contributes a substantial share to this growth, underscoring its role as a steady anchor for international buyers. These trends underscore both the immediate impact of international demand and its continued potential for sustainable growth in the local economy [Source: Valencian Notaries Union].
“It has been an extraordinary year”, says Delfin Martinez, deputy dean of the Community Notaries in Alicante, highlighting the significant economic injection that the Costa Blanca has seen. He emphasizes the importance of maintaining momentum so that the market remains robust over time. Beyond the purchase price, he notes the ongoing impact of related expenditures such as renovations and furnishings, which amplify the contribution of these transactions to the regional economy, especially in times of crisis [Source: Community Notaries Alicante].
View of PAU 5 off the coast of San Juan in Alicante. Pilar Cortes
The notable rise in 2022 stems from a combination of more transactions and higher average prices. Notaries report that foreigners bought 23,920 homes between January and September, compared with 21,930 bought by Spaniards in the same period, a clear sign of the growing foreign share in the Alicante market. This activity represents a 69% increase over the previous year and is 46% higher than the pre-pandemic figures recorded in 2019 [Source: Valencian Notaries Union].
Even with travel restrictions still influencing some markets, the overall activity remains significantly elevated. The nine-month sum for 2022 shows a strong gap over the corresponding period in 2021 and a rebound compared with 2019, indicating a resilient demand pattern for international buyers in the province [Source: Valencian Notaries Union].
Masks
Average transaction values have also climbed. For the year before Covid, the typical purchase by foreigners in the province stood at around 144,157 euros. By the first nine months of 2022, the average had risen to 177,213 euros, and in the third quarter alone it reached 182,645 euros, signaling a sustained rise in price levels alongside deal volume [Source: Valencian Notaries Union].
New record: foreigners are buying around 90 houses a day in Alicante
The pace becomes even more striking when considering that most of the market remains second-hand properties, which are generally more affordable than new builds. Detached homes such as chalets or bungalows have captured a sizable portion of the international share, nearing 35% of the foreign market on the Costa Blanca [Source: Regional Notaries].
Across the first nine months of 2022, Alicante accounted for about one-fifth of all foreign home purchases in Spain, roughly 20.11%. Industry observers, including the General Secretary of Provia, emphasize that Alicante’s international sales network has evolved into a significant competitive advantage for local companies, helping to sustain demand and attract more buyers from abroad [Source: Provia].
by country
Looking at nationality, the British market remains the strongest among international buyers in Alicante. The Brexit period has not diminished their activity; they accounted for about 3,599 purchases by September, a 71% rise from the previous year and approximately 14% above pre-pandemic levels [Source: Valencian Notaries Union].
Belgians rank second, with 2,204 transactions, maintaining a solid presence in the province and showing steady growth of around 42% from pre-Covid figures and about 29% in year-over-year terms [Source: Valencian Notaries Union].
Dutch and German buyers have shown the most dynamic shifts, moving up to become the third and fourth largest international markets. The Dutch completed 2,099 transactions in nine months, up 164% from before the pandemic, while Germans registered 2,078 deals, up 128% [Source: Valencian Notaries Union].
Other notable markets include Swedes with 1,683 sales, French with 1,399, and Norwegians showing a recovery with 692 transactions. Russians, affected by sanctions, remain a smaller share; however, they still registered 736 transactions, a 24% decline compared with pre-pandemic levels. Ukrainians, driven by displacement from conflict, tripled their activity to 709 transactions by September [Source: Valencian Notaries Union].
In addition, Estonians and Latvians posted 79 and 88 transactions respectively, contributing to a diverse international mix in the region’s housing market [Source: Valencian Notaries Union].
Overall, the Alicante market remains a magnet for international buyers seeking homes on the Costa Blanca, with the current year signaling potential continued growth as global mobility improves, prices stabilize, and the region’s appeal endures for diverse nationalities [Source: Valencian Notaries Union].