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The property sector has recovered

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The property sector has recovered to the extent that house sales are now equalling those of 2007, the last property boom year before the housing market crashed. The Costa Blanca as a whole shows a 25 percent increase in sales in comparison to 2021 which is four times more than the national average. The local cities of Torrevieja and Orihuela are leading the way in property sales across the costa with 7,806 being sold in Torrevieja and 5,238 in the Vega Baja capital in the last year.

According to Ministry of Housing statistics on sales in the year 2022, 54 percent more houses were sold last year in Torrevieja than in 2007. In second position is the city of Alicante, with 7,750 home sales in 2022. This leaves Alicante 0.6 percent below the 2007 figure. Orihuela came in third with 5,238 home sales in 2022, which represents an increase of 6.25 percent compared to the figure for the last year of the property boom.

Looking wider across the Costa Blanca, in Benidorm there were 2,324 sales, higher than the previous year at 1,749 and which, as in the case of other tourist locations, is already more than the last pre-crisis year. In 2007, 1,792 homes were sold in the Brit-friendly resort a growth of 29 percent.

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