Alicante's College of Technical Architecture (COATA) has reported that 2,689 new builds were commenced in Q2 this year, the second-highest number in the past 15 years, only surpassed by Q2 2023, which saw 3,001 new builds.
Carlos Casas, president of COATA, stated "We are facing an exceptional quarter, as it shows a very high volume of activity; however, it still reflects a decrease in activity compared to the previous year".
These new build figures are 51% higher than in Q1 2024 when 1,779 homes were constructed, and 56% higher than the average number of construction starts in Q2 over the past seven years.
Despite these "exceptional" figures, 8,233 homes were started in the province of Alicante in the last 12 months. However, at the end of the previous quarter, 8,545 homes were commenced in the previous 12 months.
This, combined with the 4,563 homes started in the province up to 30 June – a 9% decline compared to the 5,018 homes constructed in the first half of last year – leads the director to conclude that "in a scenario of reduced activity, this is much lower than anticipated." Consequently, "the likelihood that activity will remain at current levels is significantly higher than we had expected based on the data from the first quarter."
Municipalities of Alicante
Most new housing construction started in Alicante province in Q2 of the year (345 properties), followed by Denia (327 properties), and Torrevieja in third place (248 new builds).
La Vega Baja is the only town in Alicante province where construction has declined. It has suffered a 50% drop compared to the same period in 2023, so the difference between the two periods is due to this reduction in La Vega Baja.
House price in Alicante
In the latest idealista/data report, updated on 30 June 2024, property prices in Alicante province stood at €2,202 per square metre, 1.2% higher than in May and a 10.5% year-on-year increase.
If we look at the rental market, the square metre was €10.6, 1% more than the previous month and an increase of 13% compared to June 2023.
The three most expensive towns to buy a property in the province are Moraira (€3,846/m2), Javea (€3,295/m2) and Benitachell (€3,236/m2). However, in the rental market leaders are Finestrat (€14.8/m2), Benidorm (€14.5/m2) and Alfaz del Pi (€13.6/m2).
On idealista, there are 56,840 properties to buy in Alicante, of which 336 are new builds and 1,027 are for rent.
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