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Alicante breaks its record in 2023 with the best quarter in its history in foreign sales and purchases

This last quarter has been a success for home sales to foreigners on the Costa Blanca. Since 2022 there was already an upward trend after the recovery after the pandemic and the war in Ukraine, but again the numbers have surprised and Alicante has managed to beat its own historical record, according to the latest report from Sonneil Research.

However, Alicante has not been the only surprise. In the whole of Spain this has been the best first quarter since data has been collected, reaching 23,380 home purchases by foreigners, 8% more than the same period but in 2022, and 6% more than the last three months of 2022. All this reinforces the idea that Spain is an excellent destination for foreign investment.

The Sonneil Homes report based on data from the Association of Registrars shows that the nationalities that frequently look for a second home decide to opt for Spain. The foreigners who buy most regularly (registering a total of 8,980 purchases) are British, French, Russian, German, Dutch, Nordic and Belgian. This figure corresponds to 38.41% of total foreign purchases made in the first quarter of 2023.

What stands out most from the data collected by the Association of Registrars is that the Costa Blanca alone accounts for 24% of all foreign purchases in Spain. This is the highest percentage ever seen in the historical series.

According to the CEO of Sonneil Homes, Alicante continues to lead in foreign transactions. This is highly positive, as most of them buy without mortgages as they are less sensitive to interest rate variations. The number of purchases by foreigners in Alicante has increased by 7.5% at the beginning of the year, a recovery after the slight drop experienced in the last quarter of 2022.

The most impressive is the increase in purchases of foreigners from Russia, which have grown by 42% and in the first months of the year have bought 61% more than last year. Generally speaking, since 2017 foreigners who choose the province of Alicante to buy homes have grown by 64.2%.