New home construction booms along the Costa Blanca
New homes construction booming along the Costa Blanca
The fact that the Alicante region saw an increase of over 300% of new homes during last year proves that the housing market in the Costa Blanca region is beginning to grow.
In fact, almost triple the amount of new homes were built many of which are tourist homes and retreats. This proves that the Spanish housing market is finally starting to bounce back up which many market experts have been predicting to happen over the last year or two.
According to figures released by the College of Technical Architects and Surveyors of Alicante, there was a 362% increase in the amount of new homes that were constructed in Alicante. This adds up to actually be more than 2,000 new properties which is a figure that is very close to the amount of new homes built in 2008 before the international credit crisis crunch occurred.
It is reasonable to assume that at least investors are now able to see that the Spanish property market has bottomed out and so they are quickly racing to get in on the action as it starts to rise again.
Marketing Manager for Taylor Wimpey Espana the home builder in Spain, Marc Pritchard, stated that they have seen their own growth within the company with four new developments currently going up on the Costa Blanca and future developments being planned as they see their sales increase steadily. He added that it is clear that there is a demand for more buildings because more and more visitors are headed to the Costa Blanca every year.
Last year there was more than 51 billion euros spent by tourism based visitors to the Costa Blanca because of the great cuisine, breathtaking beaches, and the great Mediterranean climate and it is believed that the number will continue to increase as more and more budget airlines offer great easy flight routes.