According to the Costa Blanca News,sales of properties in the Alicante Province fell over the last 17 months. No doubt this fall was fuelled by the financial crisis aided by the controversial land grab laws and the law relating to coastal properties.
Valencia promises that the new five-in-one land law will mean that home owners affected by development plans will be give adequate information to prevent them from being surprised by building companies intentions. That sounds like an improvement but doesn’t seem to remove the risk that part of your land may be taken away by developers.
However, on a more positive note, houses that lie inside the boundary set by the law of the coast have also been given a stay of execution following a recent amendment.
As those who intend to sell know, prices of houses have slumped but at least there now seems to be some movement; in August sales in he province increased by 10% compared to last year. The buyers are mainly foreigners looking for either a second home or to start a new life here. At rock bottom prices, is it any wonder that people are snapping up the opportunity to own a property in the sun.
Of the houses that sold, 13,922 were new properties – a rise of 6.3% over last year, the remaining 49.8% were resales.