Euro Weekly News - Costa Blanca North 7 - 13 August 2014 Issue 1518

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ISSUE NO. 1518

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Sunken treasure THE Bou-Ferrer wrecked Roman galley off the Villajoyosa coast is to be declared a Cultural Asset (BIC), the regional government has confirmed. The first century galley was discovered in 1999.

Doggy paradise CAMPELLO’S Riu Seco ‘dogs allowed’ beach has brought more business to the town. Bars, restaurants and hotels which accept dogs have all noticed an increase in their takings, they said.

Fiestas injury AN 18-YEAR-OLD youth was badly wounded during the bull-baiting event at the Benitachell fiestas. He was taken to Denia Hospital after a bull with fireworks attached to its horns gored his thigh.

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7 - 13 AUGUST 2014

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Costa Blanca top for foreign house sales THE Costa Blanca is leading the way in foreign housing investment in Spain. Alicante has established itself in the first half of the year as the Spanish province with the highest appeal for Europeans who want to buy a property outside of their home countries, absorbing almost 40 per cent of sales with a total of 4,267 purchases made, almost twice that of Malaga on the Costa del Sol. However, according to figures from the National Institute of Statistics (INE), these new home-buyers do not reside in the area, with many using their second home for just 60 days a year. This generates revenues of €8,380, almost three times less than the average of what European permanent residents spend during the course of the year. The report said: “The limited use of housing by foreigners for holidays shows that potential revenue is being lost.” There is some concern that this under-utilisation of housing by foreigners is causing deterioration of urban areas.

The data showed that with regards to time-frames, it took between 10 months and twoand-a-half years to sell a property.

However, experts have said the situation has now started to change due to the demand generated by foreign investment.


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