Alicante, a benchmark province in alternative real estate financing
This past summer, data has come to light that speaks of the excellent health of the residential market in the Mediterranean, in general, and in provinces such as Alicante in particular. Specifically, in this case, housing construction has reached its best figure since 2008. Thus, in the first half of the year, the province has seen the start of more than 5,000 houses, 77% more than the previous year.
The depletion of available stock, due to the sales boom of the last two years, and the continued strong demand from foreign buyers have led developers to accelerate the launch of new projects to very high levels. Residential tourism itself is seeing a strong pull from Eastern European buyers.
Of particular note are the figures for municipalities such as Orihuela, with 693 housing starts in the first half of the year, up 55%; and Torrevieja, where 525 new homes were started, up 247%. In Pilar de la Horadada, 296 projects were approved, an increase of 640%; and in Guardamar del Segura, 264, with a year-on-year increase of 125%. Benidorm, with 398 approvals in the first half of the year, multiplies by nine those of the start of 2022.
This dynamism, especially in coastal areas, has had an impact on the DEXTER as one of its protagonists, insofar as the company has made possible the financing with private capital, outside the banking system, of several residential developments already in the marketing phase.
Guillermo Díaz, from the company's Sales Department, assures us that "The situation is not surprising, as second homes are taking up a large part of the demand and this is causing the projects presented to DEXTER by both developers and builders to come with the wind very much in their sails: there is, in short, a very clear visibility of the amortisation of the loan with mortgage guarantee".concludes the company's executive.
Alicante, a benchmark province in alternative real estate financing
This past summer, data has come to light that speaks of the excellent health of the residential market in the Mediterranean, in general, and in provinces such as Alicante in particular. Specifically, in this case, housing construction has reached its best figure since 2008. Thus, in the first half of the year, the province has seen the start of more than 5,000 houses, 77% more than the previous year.
The depletion of available stock, due to the sales boom of the last two years, and the continued strong demand from foreign buyers have led developers to accelerate the launch of new projects to very high levels. Residential tourism itself is seeing a strong pull from Eastern European buyers.
The figures for municipalities such as Orihuela stand out, with 693 homes started in the first half of the year, 55% more; and those for Torrevieja, where 525 new residences were started, 247% more. In Pilar de la Horadada, 296 projects were approved, 640% more; and in Guardamar del Segura, 264, with a year-on-year increase of 125%. Benidorm, with 398 approvals in the first half of the year, multiplies by nine those of the start of 2022.
This dynamism, especially in the coastal areas, has had DEXTER as one of its protagonists, insofar as the company has made possible the financing with private capital, outside the bank, of several residential developments already in the marketing phase.
Guillermo Díaz, from the firm's Commercial Department, assures that "the situation is not surprising, as second homes are monopolising a large part of the demand and this is causing the projects presented to DEXTER by both developers and builders to come with the wind very much in their sails: there is, in short, a very clear visibility of the amortisation of the loan with mortgage guarantee", concludes the company's executive.
