The construction sector has maintained its steady recovery in the province of Alicante and is now growing at an even faster rate. Constructor’s applications to launch new projects have increased in recent months, especially in coastal municipalities, such as Guardamar, Torrevieja, Orihuela Costa and Pilar de la Horadada.
The towns of Torrevieja and Orihuela continue to lead the way with new housing construction, not only in 2017, but also during the last three years. What the data indicates is that the recovery has now been consolidated and is beginning to accelerate. According to experts, 2017 has so far been very productive in the real estate sector. Some of them say that they are likely to achieve the same figures that they did back in 2004.
The most recent study by the company TINSA, on the situation here on the coast, published on 14 June, shows that in our region, the sector is “in a clear recovery”, despite a slow-down with the rate of home purchases by Britons following Brexit which is being offset in part by the increase in purchases by Swedes, Norwegians, Belgians and Russians who are now buying houses in the area in increasing numbers.
The company also states in their report that in the Orihuela Costa “about 120 homes have been reactivated, with new product being built mainly for the holiday market
According to the TINSA report, based on data provided by the Ministry of Public Works, new construction applications in Orihuela Costa in 2015 were 448, while in 2016 they rose to 1,038, an increase of 132%, a Growth much higher than that of Guardamar, with 66%, Torrevieja, with 27%, and Pilar de la Horadada, with an 8% increase in the number of applications for new work.
Faced with this data on the Oriol coast, the there is little new construction activity in Orihuela city and the districts, not only during 2017 but also in recent years. In fact, the licenses granted by the Department of Urbanism are practically all for promotions on the Orihuela Costa, according to the councillor, with new licenses in the city only given and are for minor works, “generally reforms.”