The market share of the Swedes in Costa Blanca’s real estate market has grown remarkably while the Russian’s has decreased
According to the latest information of Colegio de Notarios, the role of the Swedes in Costa Blanca’s real estate market has grown as the second most important foreign country. On the other hand, Russian’s role has decreased remarkably. As usual, UK carries on as the leading foreign country. Last year, foreigners bought 17 468 properties in total in the province of Alicante, being the fifth year in a row with increase of the foreign Real Estate market. From 2010, the business has nearly doubled.
Even as UK has led as the foreign country, it has also increased the amount of purchases. In 2015 the British bought 4826 properties in Alicante, which is about 50% more than the previous year. One of the biggest factors for this is probably the change which allows the British to access all their private pension fund at once when it’s directed to a property. In addition, the properties of Costa Blanca seem quite cheap now due to the devaluation of the euro in front of the pound.
Another big change in the Alicante’s real estate market is the collapse of the Russians’ purchases. The amount of the properties bought by Russians decreased by half from 2014 to 2015. The Swedish in turn increased their purchases with 19% during the same timespan, becoming the second leading foreing country in this market. Along with being a significant part in the tourism of Benidorm, now they have found the rest of the Costa Blanca. One of the factors for this change is the economic growth oh Sweden and good connections between The Airport of Alicante and Sweden.
Read the original Spanish text: http://www.diarioinformacion.com/alicante/2016/02/14/suecia-segundo-mayor-mercado-extranjero/1727608.html