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Costa Blanca town beats major cities for property completions

Source: INE - Tue 9th Aug 2011

Recent data released by the National Institute of Statistics (INE) has shown how the Coastal town of Torrevieja ranks equally for property sales with much larger cities such as Barcelona, Madrid, and Seville, with a total of 672 property completions being recorded for the first quarter of 2011.

The Costal resort brought more sales that any other place in the Valencian community, with the exception of the City of Valencia itself, and a surprising 600 of the 672 completions were for new-build properties.

Even though the town, popular with expats of many different nationalities, saw the same number of property sales as Bilbao, the number of sales still stands at just 25% of the total properties sold per quarter before the collapse of the property bubble in 2008.

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