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News
2022 the best year for home sales since 2007
“
21
JAN
2022 the best year for home sales since 2007
Neither the rise in rates nor the loss of purchasing power nor the increase in the price per square meter. Despite all the threats that loom over the sector, the statistics published on theAlicante real estate market still show no signs of slowing down. On the contrary, the figures are increasingly approaching the highs of the boom era.
Thus, last November, when the Euribor was already close to 3% with which it ended the year, 4,644 home sales were registered in the province , according to data published this Friday by the National Institute of Statistics (INE). A figure 34.2% higher than the same period last year, but, in addition, the highest volume of operations in a single month since February 2007, when 5,006 transactions were registered. In other words, the highest in almost 16 years.
There are more than 150 daily transactions and, to give an idea of the magnitude of the business, it is enough to point out that the province monopolized that month up to 8.4% of all housing transactions accounted for in Spain, more than double those that would correspond to its population volume. In the country as a whole, 55,132 houses were sold in November, 10.7% more.
With these latest figures, the volume of accumulated sales in thefirst 1 1 months of 2022 already amounts to 46,336, 40% more than in the same period of 2021 and very close to the 49,833 houses that were sold between January and November 2007.
An evolution that has a lot to do with the pull that the province maintains among foreign buyers, where it concentrates 20% of all transactions in the country. A segment where covid restrictions lasted longer than in the national market, which has caused a greater pent-up demand, which has added to the psychological effect that seeks healthier environments and with greater possibility outdoor activities after the pandemic or the advance of teleworking . As if that were not enough, the outbreak of the war in Ukraine and the increase in electricity bills throughout Europe have also favored the arrival of what is already known as energy tourists, who come to spend the winter to reduce their expenses.
However, the domestic market also maintains a strong demand, largely favoured by the rate hikes themselves. According to sources from the financial sector and the Notarial College of Valencia, in recent months a significant volume of operations has been detected starring local residents who have decided to advance their purchase decision, precisely to avoid the new increases in rates that are expected on the horizon.
In this way, after a somewhat weaker September, in the offices and branches they assure that the activity recovered very strongly from October, as the INE data now show. It remains to be seen how long this phenomenon continues, since as rates rise more, access to finance becomes more complicated.
As for the type of housing, as usual since the recovery of the real estate market began, it is second-hand houses that monopolize most of the market, with a total of 40,331 operations so far this year, 87% of the total. On the other hand, new construction homes carried out 6,005 transactions.
The sale of homes does not stop in Alicante and marks its best record since 2007
Neither the rise in rates nor the loss of purchasing power nor the increase in the price per square meter. Despite all the threats that loom over the sector, the statistics published on theAlicante real estate market still show no signs of slowing down. On the contrary, the figures are increasingly approaching the highs of the boom era.
Thus, last November, when the Euribor was already close to 3% with which it ended the year, 4,644 home sales were registered in the province , according to data published this Friday by the National Institute of Statistics (INE). A figure 34.2% higher than the same period last year, but, in addition, the highest volume of operations in a single month since February 2007, when 5,006 transactions were registered. In other words, the highest in almost 16 years.
There are more than 150 daily transactions and, to give an idea of the magnitude of the business, it is enough to point out that the province monopolized that month up to 8.4% of all housing transactions accounted for in Spain, more than double those that would correspond to its population volume. In the country as a whole, 55,132 houses were sold in November, 10.7% more.
Balance of the year
With these latest figures, the volume of accumulated sales in thefirst 1 1 months of 2022 already amounts to 46,336, 40% more than in the same period of 2021 and very close to the 49,833 houses that were sold between January and November 2007.
An evolution that has a lot to do with the pull that the province maintains among foreign buyers, where it concentrates 20% of all transactions in the country. A segment where covid restrictions lasted longer than in the national market, which has caused a greater pent-up demand, which has added to the psychological effect that seeks healthier environments and with greater possibility outdoor activities after the pandemic or the advance of teleworking . As if that were not enough, the outbreak of the war in Ukraine and the increase in electricity bills throughout Europe have also favored the arrival of what is already known as energy tourists, who come to spend the winter to reduce their expenses.
How much will the price of housing in Alicante rise?
However, the domestic market also maintains a strong demand, largely favoured by the rate hikes themselves. According to sources from the financial sector and the Notarial College of Valencia, in recent months a significant volume of operations has been detected starring local residents who have decided to advance their purchase decision, precisely to avoid the new increases in rates that are expected on the horizon.
In this way, after a somewhat weaker September, in the offices and branches they assure that the activity recovered very strongly from October, as the INE data now show. It remains to be seen how long this phenomenon continues, since as rates rise more, access to finance becomes more complicated.
As for the type of housing, as usual since the recovery of the real estate market began, it is second-hand houses that monopolize most of the market, with a total of 40,331 operations so far this year, 87% of the total. On the other hand, new construction homes carried out 6,005 transactions.
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