Alicante leads the sale of properties to foreigners in Spain with 2485 homes.

Alicante is the Spanish province which has registered the highest number of sales of homes to foreign residents in the first quarter of 2013, with 2485 homes, followed by Malaga, with 992.

This figure has been provided by the minister of Infrastructure, Territory and Environment, Isabel Bonig, who has presented the actions carried out by the commission for the sale of homes to foreigners to representatives of more than 50 councils in the province of Alicante and to associations of builders, real estate agents, consumers and professional associations. (…)

The minister has valued the recent trips to London and Helsinki, made to present to the main actors within the sector the legal security that guarantees all real estate transactions, as well as the guarantee and the quality of the homes in the region.

She has added that “they have intended to export” that the region has a “stable tax environment and services with European quality standards, as well as a great climate”.

In her opinion, “all these factors turn the region into an attraction point for those foreigners willing to acquire or rent a home”.

In 2012, the sale of properties to foreigners has meant a volume of business of 1632 million Euros.

This figure represents 40% of the volume of global business of this sector, estimated in 4059 million Euros.

This activity is one of the most active ones, only behind the export of cars and of mechanical machinery. Also, the impact on the economy is not limited to the year of acquisition, as it continues providing an economic flow during several years after the acquisition.

According to a study by the Valencian Institute of Economic Investigations, it is estimated that homes generate during the year of their sale an additional rent of between 20.000 and 28.000 Euros, and more than 9.000 Euros in the years following the acquisition. (…)

Source: El Mundo