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Red Internacional
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Red Internacional
activum real estate consulting
Contact
Red Internacional
activum real estate consulting
Contact
Red Internacional

ndp-04-jul_2023

STRONG INCREASE IN SALES AND PURCHASES IN ALICANTE: NEW CONSTRUCTION GROWS BY 34% AND SECOND HAND RISES BY MORE THAN 69% SINCE 2021.

4 July 2023

  • In Spain, the sale and purchase of new buildings has risen by around 6% and second hand by more than 22%, but in Alicante the growth is even greater.
  • The average price per square metre of new construction in Alicante city is 2,773 euros.
  • The average price per square metre of second-hand property in the city of Alicante is 1,968 euros.

Alicante city has a total new building supply of 1,162 dwellings. Compared to January 2021, the supply of new construction has decreased by 42%. As for the supply of second handThe supply decreases by 48%, from 11,000 on offer in January 2021 to 5,644 currently on offer. This has been analysed by the real estate consultancy firm Activum Real Estate Consulting in its latest study on the real estate scene in Alicante.

Despite this significant drop in supply, there is strong demandComparing the first four months of 2021 and 2023, the growth in sales of new construction has been 34% and second hand sales more than 69%.

This percentage of growth is applicable to practically the entire national territory, with a growth of more than 6% in new construction and more than 22% in second hand. However, the growth observed in Alicante is much higher.

Source: Activum.co.uk a 04/2023. This graph is based on data from the INE.

The supply of housing in the metropolitan area has also decreased in recent years and the supply of second-hand housing follows the same trend as in the city, which is much greater, with the exception of San Juan, where the supply of new construction is greater.

 

Own source: Activum.co.uk a 06/2023.

New vs. second hand: price differentials Alicante city, the average price per square metre of new construction is €2,773 and second hand €1,968, with second hand being 29% cheaper. The Benalúa neighbourhood has a difference of 41% with €2,650/m².2 in new construction and 1.560€/m2 in second hand. If we focus on the area of Cabo de las Huertas, it is the area with the biggest difference with 48% with a price of new construction of €4,878.05 compared to second hand with €2,559. In La Florida, the average price per m2 of new construction is €1,669.72 and second-hand €1,425, only 15% cheaper. In Pau 1 the difference is 38% with €2,573/m².2 and 1.588€/m2. Vistahermosa is the area with the smallest difference between the average price per m3 and the average price per m3.2 new and second-hand; only 6% cheaper the average price per square metre.2 2,030 for second-hand and €2,151.66 for new build. El Campello has a difference of 42% between the average price of a new property and the average price of a second hand property.2 new build at €3,647 and second hand at €2,125. In Mutxamel there is a difference of 29% between new build and second hand at €2,046/m².2 and 1.445€/m2respectively. In San Vicente del Raspeig the 19% with 1.702€/m2 and 1.386€/m2respectively.

Source: Activum.co.uk a 04/2023. The ranking is based on developments advertised on real estate portals and on the websites of the developers studied.

Who buys in each neighbourhood of Alicante?

The buyer profile varies greatly depending on the area and the number of bedrooms required by the client. Activum Real Estate Consulting has outlined the buyer profile in each of the developing areas with which it has commercial experience.

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