Alicante 'holding up well'

Alicante is holding up better than most local property markets in Spain, it has been stated.

Housing ministry figures for Spain have revealed that in the first quarter of the year the Costa Blanca province only had 700 fewer transactions than Barcelona Province, which at five million has a much larger population, Costa Blanca News reports.

The paper also noted that there is considerable pent-up demand for Spanish property, pointing to a study by Barclays showing that 800,000 Britons want to buy in the country but are waiting for an upturn in the market first.

Such a situation could favour those who buy when the market is at the bottom, as there could be a significant rise in prices when these extra buyers return to the market and demand comes closer to matching supply.

One factor that may boost Spanish property is the perceived greater security of property in comparison with stocks and shares at present.

Russians are increasingly looking to Spanish real estate after a 46 per cent fall in Russian stocks since May, Property Wire reports.