Spanish city of Alicante becomes “Algerian fiefdom” with 8.500 apartments purchased by Algerians

According to latest notary statistics, the real estate sector in Spain has witnessed a potent boost over the past few years with foreigners including many Algerians purchasing apartments in Alicante, Marbela and elsewhere in the country becoming the second-ranked property buyers there in the standings after the British.

The same sources added that the Algerians had purchased more than 8,500 flats and houses in the city of Alicante alone for the past 4 years taking advantage of significant discounts offered by the ailing Spanish housing business market.

But one of the most striking trends in the real estate market is taking place in Alicante, which has become a second home for Algerians. Geographical proximity (just 12 hours away by sea) and historical trade routes explain the cordial relations between Algeria and Alicante.

But in the last three years, encouraged by falling prices and their own property bubble at home, Algerians have been turning to Alicante as the place to buy their second homes.

A representative of the realtor Remax in Alicante. is enthusiastic about the new clients who are coming to the Spanish Mediterranean: a cosmopolitan crowd made up of Russians, Scandinavians, French, and, Belgians.

Alicante is also currently witnessing a new trend that is far from anecdotal; the arrival of numerous Algerian clients who purchase homes in the Coastal Spanish city.

Cash-carrying buyers are also showing up further south on Costa del Sol, “where 90 percent of sales are to foreigners including well-to-do Algerians”.

“Between 20 percent and 30 percent of the registered title deeds are apartment sales to Algerians, according a Spanish notary in the capital.

The realtor Tecnocasa says that since July, 66 percent of their sales in Alicante were to non-EU citizens, and of those, 90 percent were Algerians eager to acquire an apartment in Spain, their favourite foreign beach home location.

A good number of property agencies coincide in their profile of the average buyer from the Maghreb mostly Algerian nationals: male, mid-to-high purchasing power, often working in a liberal profession, and seeking cheap apartments between 40,000 and 80,000 euros.

Five years ago, such a search would have been fruitless. A large number of Algerians are buying properties in Alicante’s first suburban development and in the more economical neighborhoods north of the city; around Plaza Orán and Argel are the main enclaves.

Naturally, the accommodation-seeking Algerian customers don’t waver to pay in cash, according to local sources.

“Potential customers have a lot of information thanks to the Internet. They know everything that’s up for sale. If they find an area they like, they seek everything that’s on sale there at the cheapest price. Clients want to be in charge. They look for good pricing and they’re not in a hurry.”

There are particular cases like Benahavis, a municipality located next to Marbella, where home sales have increased 219 percent in just one year.