Alicante’s Surprising Surge in Property Sales

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.