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British Property Investment Wavers

A study carried out by 40 British experts in the property and tourism sector has revealed that property investment on the Costa Blanca will stay high this year despite a predicted six percent fall.

The drop is blamed on the perceived lowering of quality in the areas of infrastructure, health, environment and the excessive rise in property prices. Put together by the jury of the prestigious UK based Homes Overseas Awards, the report was made public last week at this year’s awards ceremony, where the top award went to the Costa del Sol. Alicante Province failed to pick up a single award.

Although the report is forecasting a downward turn in the property market, the Costa Blanca is still the number one destination for most people looking for year round good weather without being too far away from the UK.

Homes Overseas says that places such as Florida, France and Cyprus have increased their positions as areas preferred by the British. The expat population in Spain has grown from 353,367 in 1991 to well over 1.5 million today, representing 3.85 percent of Spain’s population. British residents are by far the largest group of EU citizens living in Spain, followed by those from Germany and Romania.

The favoured Costa Blanca destinations for British property buyers are Calpe, Alfaz del Pi, Pilar de la Horadada, Javea, Torrevieja, Altea and Benidorm with 39 percent of people preferring to buy resale homes, 34 per cent new ones and the remainder buying off plan.

By Tom Cain Costa Blanca News