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Used property boom
NEW housing is now 70 per cent more expensive than secondhand property in the Valencia Region. Before the explosion of the building bubble in 2008, the new and used property markets ran almost parallel with regards to both the number of operations performed and price, with new houses costing an average of 20 per cent more.
But since then, both markets have split and grown increasingly separate from each other, with secondhand housing currently accounting for nearly 90 per cent of the total number of purchase and sale operations performed throughout the region and new housing becoming nearly a luxury item.
Analysts suggest that the main reason for operations involving used property spiralling since 2008 is that the construction crisis left many developments unfinished or cancelled during the planning phase, which has led to a major shortage of new housing in the region.
Although building activity resumed in 2014, it is still a far cry from the more than 50,000 new houses built every year during the boom, with just over 7,500 homes built during the best year so far in 2019.
Anna Ellis easyJet’s managing director for Southern Europe, Javier Gandara, highlighted that this will allow the creation of around 100 jobs and said that he was “proud to announce a seasonal base in Spain, a market in which we continue to grow, boosting tourism and creating jobs.
IN fantastic news for Costa Blanca tourism, the opening of new air routes continues at Alicante Elche Miguel Hernandez airport.
The airline easyJet has announced that from the spring of next year, it will have a new base in Alicante. This new base will increase the number of seats offered in the province by 16 per cent compared to this summer, as three new A320 family aircraft will be incorporated.
“Alicante is a very attractive destination for our customers. Between
