Leading home sales

FRONTLINE: Foreign buyers are returning and are looking for properties close to the sea.

THE market for second homes on the coast of Alicante is continuing the positive trend that began in 2014, especially in the case of Torrevieja and Orihuela, due to high foreign demand.
The latest report on the housing market in the Valencia Region by Tinsa showed a rise in sales to foreigners in Alicante Province, going from 8,557 in 2010 to 16,443 in 2014, according to data in the report.
Orihuela, Torrevieja and Pilar de la Horadada are among the five municipalities, excluding the capital, with more building permits, and Orihuela and Torrevieja are amongst the five with the highest number of purchases.
Promoter activity has also begun to pick up in the region, especially aimed at foreign buyers who want housing close to the beach. The British market grew 41 per cent in 2014 over the previous year.
This was followed by a rise in Belgian buyers (22 per cent), French buyers (15 per cent) and Swedish (7 per cent) whilst the previous boom of Russian buyers registered a slight decline in 2014.

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