Local real estate market: last year’s results and present situation
The year of 2017 was successful in real estate sales sector of Alicante: there were registered 40,156 purchase and sale transactions. It is 56% of 72,891 similar transactions conducted in 2006, before the economic crisis in Spain, reports elmundoe.es with reference to the data of the Ministry of Development/ Ministerio de Fomento.
While 11 years ago the average price per square meter of housing was 1,794 euros, it´s 1,025 euros now in Alicante province. So the price of local real estate fell by 42% during a decade.
In Benidorm such indicator is 35%. In 2006 an apartment of 90 square meters cost 236,000 euros in Benidorm, 11-12 years later its price is 153,000 euros.
At the same time, rental prices increased by 6% in the province: thus, in 2008 an apartment of 90 square meters was rented out at a price of 648 euros per month, in 2018 the same apartment is rented out for 657 euros per month. The purchase of housing for its further renting out to tourists or immigrants at Costa Blanca continues to be popular in Alicante province.