Torrevieja has become established as one of the main areas within the Valencia Region where money is being poured into the building and property sector.
Francisco Moreno, the councillor for Urban Planning in Torrevieja, has announced that statistics from the first quarter of 2014 show a considerable rise in the number of licences and real property registrations.
Year after year the volume of new building work is increasing and the councillor says that it has grown considerably from the same period in 2013.
He is certain that Torrevieja’s economy is in full recovery, which will help create numerous jobs in the area and reduce the number of jobless.
In fact, proof of this is displayed in the unemployment rate figure for the first seven months of 2014, showing that 2,000 new jobs have been created.
Figures show that the number of licences granted for major building work has shot up by an incredible 339% when compared to last year’s numbers. Additionally, the number of new licences that have been applied for has gone up from 133 to 451.
Not only this, but during the first quarter of 2014, the number of licences to build new homes reached 81% of the total for the whole of 2013. If this trend continues until the end of the year, this could be excellent news for the economy of Torrevieja.
Permits for minor building work has also gone up – by 11.58% to be precise. During the first six months of 2013 there were 449 applications, while in the same period of 2014, the figure had increased to 501.
This increase in licences and building work, which can be validated by the number of cranes suddenly appearing in the area, could get the city back on track in terms of investment, jobs and the economy in general. If people return to Torrevieja to buy new property, the effects will radiate out to other sectors such as tourism, hostelry and services. If growth continues as it is doing, economic stability and future investment are almost certainly guaranteed.
Source: Torrevieja town hall