The stagnation in the local housing market continues. The latest initiative by promotors to boost sales is to use telephone selling techniques. Potential clients in a data base are contacted directly by telephone to provide them with details of current promotions.
According to the data from the provincial association of promoters (Provia), 40,000 houses will be built this year which is a 20% less than in 2006. The number built in 2006, represented a growth of 3% on 2005 but a reduction of 9% on 2004 when 52.737 houses were built and was the best year this decade.
Promoters are using mortgage offers, free cars, pamphlet distribution and now direct "door to door" selling to try and boost sales. They are also introducing improvements like sport zones, swimming pools or other complements to make their developments more attractive.
It is not just first time buyers homes that are not selling. Provia point out that the slow down in re-sales is also preventing buyers from moving up the property ladder from their first home.
It is interesting to note that the average mortgage in Alicante province is currently 132,443 euros over a 28 year term, nineteen thousand euros less than the average loan in Spain of 151,505 euros.
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