Costa Blanca
Construcion of only 489 flats started across Alicante province in four months
By h.b. - Jun 5, 2008 - 8:35 AM
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The extent of the real estate and construction slowdown in Alicante province is evident from the latest figures which show that only 489 homes were started across the province between January and April this year.
The provincial association of real estate promoters, PROVIA, says the number is 96% down on the average for the past seven years when on average 13,000 new homes were started every four months. The situation is exacerbated by the fact that there are some 50,000 unsold new homes which have already been completed or which are on the point of coming onto the market.
Last year’s numbers for builders in Alicante were already the worst for eight years, with 25,619 homes started and 32,125 homes completed, well down on the 45,000 started in the boom year of 2004.
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