The province's property market, in foreign hands

International buyers already account for more than 80% of purchases in some localities, with Torrevieja and Orihuela as the main investment hotspots. In Torrevieja, 82.7% of homes sold in the first half of 2024 were bought by foreigners, while in Orihuela the figure reaches 85.9%.

Poles have overtaken Swedes as the biggest buyers in Torrevieja, followed by Ukrainians and British. In Orihuela, the British lead the purchases, followed by Belgians and Poles.

In Alicante city, foreigners represent 40% of the market, with Algerians as the largest group. Other towns with high international demand include Benidorm, Santa Pola, Guardamar and Calp.

The Government's recent proposal to apply a surcharge on non-EU buyers could seriously affect this market, especially in the areas most dependent on residential tourism.

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