Alicante’s housing boom: Defying Spain’s market downturn

In the evolving landscape of Spain’s real estate market, Alicante emerges as a beacon of positive change amidst a generally contracting trend.

Recent data from idealista, highlights a significant decline in the number of homes available for sale across Spain.

In the second quarter of 2024, the overall housing stock decreased by 6 per cent compared to the same period last year, matching the reduction observed in the first quarter.

Decline in Availability

This decline in housing availability has been particularly pronounced in several provincial capitals.

Ávila and Burgos have seen the most dramatic reductions, with housing supply dropping by 30 per cent.

Other notable decreases include Zamora and León, both down by 25 per cent, and Oviedo, A Coruña, and Santa Cruz de Tenerife, each experiencing declines of around 24 per cent.

Larger Markets

Larger markets like Valencia, Barcelona, and Madrid have also faced significant drops, with reductions of 21 per cent, 17 per cent, and 15 per cent respectively.

Seville and Bilbao have seen decreases of 14 per cent and 11 per cent, while Palma, Alicante, and Málaga have experienced more modest declines of 9 per cent, 6 per cent, and 4 per cent.

In contrast to this overall trend, Alicante stands out with a notable 7 per cent increase in its housing stock.

Symbol of Growth

This positive shift sets Alicante apart as a symbol of resilience and growth in the real estate sector.

Its ability to expand its housing availability while other cities experience reductions highlights its distinctive appeal and burgeoning opportunities in the market.

Girona and Cuenca also reported increases in housing availability, with gains of 6 per cent and 2 per cent respectively.

Broader Trend

Meanwhile, Tarragona, Guipúzcoa, and Lleida have maintained their current levels of housing availability, showing stability amidst a broader trend of contraction.

Alicante’s performance amid the generally declining market underscores its growing significance in Spain’s real estate landscape.