Sold! Torrevieja hot spot of Spain

TORREVIEJA is Spain´s property hot spot.

Despite the economic crisis, so far this year more than 3,000 properties have been sold, making it the leading sales spot nationally.

A huge 83 per cent of properties bought have been re-sales, with only 17 per cent new-builds.

According to the National Statistics Institute, the municipality of Torrevieja locally has the most home sales this year anywhere in Spain.
Prices have never been so attractive, with windows of local real-estate agents indicating two-bedroom properties available from €40,000.

Councillor for Urbanism Paco Moreno (PP), welcoming the sales figures, said they were favourable mainly due to the low prices.

Planning applications for the construction of new housing is still low compared to the last decade when a record 6,000 licenses were requested, but Moreno said the situation was positive.

“There is a moderate increase in productive sectors in these very difficult times.

“Throughout 2013 it will continue to grow, which is a guarantee of stability to prospective investors in Torrevieja,” he said