Home sales register their best July in 15 years and the value of houses rises 6.1%

Home sales register their best July in 15 years and the value of houses rises 6.1%

Waiting to know the impact of the latest rate hikes and of the uncertainty hovering over the economy, the data that is becoming known reflects that the real-estate market Alicante is living a exceptional year, like he hadn’t remembered for a long time. Specific, for 15 years.

According to the latest statistics released this Wednesday by the INE, during the past month of July they were sold in the province 4,199 homeswhat it means a 34% uptick on the figures for the same period of the previous year and the highest volume of transactions for this month since 2007. Figures that place the total number of transactions at accumulated of the year in 28,649, 48% more than in 2021 and also the largest in a decade and a half.

Although the good real estate moment extends throughout the country, the increase experienced by transactions in the province is well above averagespurred on by the heavy weight of the residence tourismly, above all, for the foreign demand. In this way, the increase in the sale of homes in Alicante multiplies by three what is registered in the country as a whole, where in the first seven months of the year 383,000 operations were recorded, which represents a growth of 15% compared to 48 % from the province.

As has been the case in recent years, the second hand grab up to a 87% of the entire market, compared to 13% for the sale of new-build homes, whose supply is concentrated in the higher-priced segments and mainly in tourist areas.

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Two recently built buildings in Benidorm. Axel Alvarez

Naturally, this increase in demand has been strongly transferred to the price of real estate. Thus, according to statistics on the home appraised value of the Ministry of Transport, Mobility and Urban Agenda, the square meter finished the first semester in an average of €1,400.9 in the province, 6.1% more than on the same dates last year. And this despite the fact that, in reality, in the second quarter there was a slight contraction of 0.7% in this indicator.

It should be borne in mind that the ministry’s data reflects the valuations carried out by appraisers, compared to the figures offered by the studies of the real estate portals, which show higher increases –between 8% and 9%- since they are based on the prices put by the sellers, whose expectations are always higher.

By segments, the value of homes in new construction -that rise 8%, to 1,818 euros per meter-, than that of flats and houses of second handwhose value has increased 6% in the last year, until €1,389 by meters, according to the same sources.

A difference that promoters attribute to the cost increase that the sector has experienced since the end of the confinement, when transport problems and supply shortages triggered the price of many materials, as Provia’s general secretary recalls, Jesualdo Roswhich indicates that this upward trend will continue in the coming months.

Thus, with regard purely to new developments, Ros points out that the good start to the year has allowed most companies in the sector to have fulfilled at this point with his Sales goals for the entire exercise. Of course, the uncertainty about the economic evolution is leading companies to consider whether or not to start the commercialization of new projects, which could lead to a offer reduction for the next financial yearwhich would raise prices even more in this segment of the market, according to the general secretary of Provia.

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Refering to second handsome professionals have already begun to detect some slowdown in the number of consultations, but the truth is that uncertainty prevails. On the one hand, the rise in mortgage prices and the poor economic outlook point to a decline in operations in the coming months, but, on the other hand, precisely the forecast of new rate hikes is encouraging some buyers to bring forward their decision to purchase, which could serve as a counterweight.

Regarding the figures by municipalities, at the end of the first semester XΓ bia it was the population of more than 25,000 inhabitants of the province with the most expensive square meter, with 2,276 euros; followed by benidormwith 2,129; Calpewith 1,951; El Campello, with 1,849; Y Denia, with 1,767. In the case of the city of Alicante, the appraised value of the home stood at 1,348 euros, although the new build is listed at 2,138 and the second hand at 1,329 euros. In Elche an average of 1,006 euros is paid, with 1,551 for newly built apartments and 996 for used ones.

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