The province real estate market tries to maintain a slight upward trend in home sales since May, despite the impact of the covid, started in March, and from restrictions subsequent national and international levels, which have plummeted the sale of houses to resident foreigners who they have not been able to travel to Alicante, first, by the closing of borders, and, later, by the mobility limitations imposed in different EU countries, which are the main clients of Alicante tourism and residential tourism, represented by housing developers. The limitations and quarantines in Germany, the United Kingdom or Belgium have substantially reduced the arrival of travelers from these countries to the province
With this scenario, last month of September Alicante registered 2,638 transactions for the sale of flats. A figure that is 5.5% lower than that of the same month last year and that represents a fall greater than the state average of 1.1%, according to the comparison of property rights transfer data published today by the National Institute of Statistics (INE).
Although the setback is greater in the province that on average in the national territory, the number of sales transactions is the highest since February, before the pandemic, in which 2,913 transactions were registered. In addition, already with the impact of the covid affecting the real estate sector, since May, monthly operations have progressed slightly. Hence, a slight upward trend is detected in monthly results. However, the 2,638 houses sold are still far from the 3,276 sale and purchase transactions in January of this year.
Of the total transactions, 2,125 were registered in the second-hand housing market and that represent a decrease of 7.7% in relation to the 2,304 of the same month of September of last year. And in the market of the new home, only 513 transactions were made, just a score more than in September 2019.
New habits, new demands in the housing market
On the other hand, in the recent Situation Report of the Alicante Institute of Economic Studies (Drown), corresponding to the second quarter of the year, it was noted that the provincial real estate sector suffered, initially, the impact of mobility limitations in Spain and Europe. But “when speaking of perspectives that the economic reality is taking, this may delay the decision to acquire a property until circumstances improve, cfreezing the development of real estate projects and adapting them to new demands and social trends “, as indicated in the report. But, equally, the change in life habits, after confinement, with families that”seek proximity to less populated areas, the increase of telecommuting, and new structural requirements in housing, can allow an outlet for the sector by channel new demands arising from the crisis”Added the study.
Digsmak is a news publisher with over 12 years of reporting experiance; and have published in many industry leading publications and news sites.