Home seekers in harmony: Alicante’s surprising surge in property sales

Despite expectations of a slowdown, the sale of homes to Russian and Ukrainian citizens in the province of Alicante continued to surge in 2023.

Figures are driven by both new arrivals fleeing the conflict and those who settled permanently after seeking refuge during the initial stages of the war.

Many refugees, initially opting to rent, are now choosing to buy due to the prolonged and uncertain nature of the conflict.

In 2023, a total of 2,691 homes were acquired by Russian and Ukrainian citizens in the province, marking a 25 per cent increase compared to 2022, which itself saw a substantial 73 per cent rise in sales.

Ukrainians, being the most affected by the war, accounted for the majority of transactions, with 1,400 homes purchased, representing a 35 per cent increase from the previous year and a significant rise compared to pre-war levels.

Affordable prices in Alicante compared to other regions like the Costa Brava or Costa del Sol have attracted Ukrainians who initially settled elsewhere.

Similarly, Russian citizens purchased 1,291 properties in 2023, marking a 15.99 per cent increase from 2022, contrary to expectations of a collapse in sales due to war-related sanctions.