Contrary to expectations of a market slowdown, Alicante witnessed a significant surge in property sales to Russian and Ukrainian citizens in 2023.
Driving Factors Behind the Surge:
New Arrivals: Individuals fleeing the ongoing conflict have contributed to the rise in property sales.
Permanent Settlements: Those who sought refuge during the early stages of the war are now choosing to settle permanently.
Shift from Renting to Buying: Many refugees initially opted for renting; however, the prolonged and uncertain nature of the conflict has led them to purchase homes instead.
Key Statistics:
- In 2023, Russian and Ukrainian citizens acquired a total of 2,691 homes in Alicante, marking a 25% increase from 2022.
- This follows a substantial 73% rise in sales in 2022, indicating a continuing upward trend.
Breakdown of Purchases:
Ukrainian Buyers:
- Accounted for the majority, with 1,400 homes purchased.
- This represents a 35% increase from the previous year.
- A significant rise in purchases compared to pre-war levels.
Russian Buyers:
- Purchased 1,291 properties in 2023.
- Sales increased by nearly 16% from 2022, despite anticipated impacts of war-related sanctions.
Reasons for Alicante’s Popularity:
Affordable prices in Alicante, compared to other regions like Costa Brava or Costa del Sol, have made it an attractive option for Ukrainians who initially settled elsewhere.
