Since the 06th of April 2015, the British legislation on pension plans allows British citizens to have once, if they wish, all the money they have accumulated in this type of complementary products to the public provision.
Many have taken advantage of this reform to purchase a house abroad and this has had a direct effect on the sale of properties in the Costa Blanca.
The Alicante Promoters Association (Provia) points this policy change as one of the main responsible for the impressive sales performance in the first half of the year, together with the significant devaluation suffered by the euro against the pound.
Acording to official datas from the Chamber of Notaries, the pension reform in England is behind the sales increase in 2015. Between January and June, British citizens bought 2080 houses in the Costa Blanca, a figure that exceeds by 49.4% the same period last year.
In addition, property prices on the Costa Blanca are below those offered in other areas of Spain and the Mediterranean area, although they have also begun to rebound. Thus, compared to an average of 114,005 euros spent in 2014, this year the average value of the homes acquired by British citizens in the province until the second quarter stood at 125,351 euros.
The wide range of properties located in the Costa Calida and Costa Blanca, is one of the reasons why British opt for that location. They have the opportunity to find houses close to the sea, in an exclusive golf course or in front of a lush pine forest.