Costa Blanca is Spain’s number one choice for foreign property buyers

ALICANTE Province is continuing to attract the highest percentage of foreign property buyers in Spain.

International consultants Colliers say 17.6% of all foreign home buying in Spain for 2021 has been in the popular tourist region.

It makes the area the most sought-after part of the country for non-Spanish buyers for a second successive year.

Alicante Province leads in both new and second-hand purchases among foreigners.

Malaga Province comes second with an 11.4% share of the foreign market, followed by Barcelona on 8.7%.

The Canary Islands account for 7.6% of foreign buys while the Balearics stand on 6.2%

Colliers say that the busiest area for new property construction is Madrid with over 21% of Spain’s new builds.

Malaga Province comes second on 8.9%.

The consultants, who specialise in the real estate and hotel sector, commented that the first half of 2021 was the best for property sales since 2008.

“Housing transactions were 63.7% higher than in 2020 and 10.67 higher than the first half of 2019,” stated Colliers.

The significance of those figures is the rise in sales to levels above the pre-pandemic period of 2019, which back up other studies and official government statistics.

Colliers estimate an annual house price rise of up to 2% for 2021.

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