Price has picked up 2% in Benidorm in the first quarter, although still slightly downward in Alicante, Orihuela and Torrevieja, while Crevillent, Elda and Novelda are cheaper places
The price of housing in the Costa Blanca not only has bottomed, as already anticipated last April the President of the Banco Sabadell, Josep Oliu, when it presented the results of the first quarter of the entity, but it began again to rise. At least, in the city of Benidorm, the tourist capital of the region of Valencia. The table official price of square meter built, both new flats and those who have more than two years, was reported yesterday by the Ministry of public works and collects a rise 2% in Benidorm and mild fall, what was common in the inter annual since 2008 comparative quarter-to-quarter basis, in the case of Alicante Torrevieja and Orihuela.
Between 35% and 45%, it has fallen half price of new flats and second-hand of the province, in areas of interior or coastal, first secure residence, since the beginning of the crisis, after pop the housing bubble, in early 2008, after the U.S. sub-prime scandal. in the summer of 2007. At the rate of 7% per year on average in almost all of the municipalities of the Property Costa Blanca, although not so much in the central areas of the large municipalities or first line littoral.
Now, after more than 80 months, rates begin to recover after hitting bottom clearly. In Benidorm, at the end of March was built square meter 1.823 euros, compared with 1,787 March 2013. In Alicante, the decline in the value of housing is clearly slows, adding one 5.1% less in the last twelve months, half that crash that registers Torrevieja, with 11%, where square meter goes from 1,170 euros metro in 2013 to 1.045 in Q1 2014. Lanzarote, including its coastal area, also adds another YOY decline of 9.7%. Xàbia is still, after Benidorm, Alicante most expensive city to buy housing, with 1.369,4 euros subway, opposite 1,517 of twelve months ago.You record one of the biggest falls in value (- 10.8%).
In the interior it falls more
The area of the province records even higher percentage fall, even though the value is much lower. Thus, Alcoy records a 19 percent slump in the value of housing new and used a year official pricing, price remaining 662 euro metro. In Crevillent price is 605 euros, compared to 707 from a year ago. In Elche was worth 887euros the underground a year ago and now 744 (15% less in only twelve months). San Vicente costs 952 euros compared with 1.060 of the start of the year 2013.
The most economic to invest in housing from Alicante municipalities remain Crevillent, Elda and Novelda, with 564, 605 and 619 euros square meter, respectively. They are part of the Group of towns with more than 25,000 cheaper inhabitants in Spain, Jumilla, Ontinyent and Tomelloso.Neighboring Jumilla, with 527 euros meter, is the most attractive area to invest right now in brick. They also record falls even more moderate than the average Calpe, Denia, Santa Pola and Villajoyosa. For communities, the Valencia falls 2.3%, below the average, which is located at 3.5%.