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8 out of 10 houses sold before they are built. |
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8 out of every 10 houses that are built as second homes on the Costa Blanca are sold before they are built. The other two are sold almost as soon as the building is complete.
Moreover the number of homes on the Costa Blanca has risen by 74% over the last seven years. The number of houses that are destined to be specifically second homes is now 21% of all houses in the province of Alicante. This is double that of say Malaga at 11%, three times that of Cadiz (7%) and almost four times that of Mallorca.
There are concerns from some quarters that this is disproportionate and that more houses should be built for the people living on the Costa. In particular with the recent immigration from South America the government wants to increase the amount of council housing (Vivienda Protegida).
Certainly the market is still buoyant although perhaps slowing slightly. Anecdotally estate agents say that it is very slow at the moment and that there are bargains to be had – especially for cash buyers. They also say that a couple of years ago no new housing complex was finished before all the apartments had been sold.
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