Coastal boom in Spanish property prices

Is your dream home waiting in Spain? The coastal regions and islands of Spain, renowned for their popularity, have witnessed a notable surge in property values in 2024.

A  recent report from the Ministry of Transport and Sustainable Mobility unveiled data showing provinces such as Alicante, Cadiz, Valencia, and the Balearic Islands at the forefront of this upward trend.

Luxury markets flourishing

Particularly in Alicante, municipalities like Calpe have seen property values soar by 22.3 per cent to €2,276.60 per square metre, making it the only town with more than 25,000 residents to record over a 20 per cent increase.

The luxury sector, notably, has experienced significant growth across the Costa Blanca, with Denia and Gandia also witnessing substantial hikes in their property values.

According to Eje Prime, a spokesperson from Barnes commented: ‘The increase in housing prices may be stimulating demand for exclusive properties, as luxury buyers look for destinations that provide them with a good quality of life, high-quality services and privileged locations.’

Diverse investments driving growth

Beyond the allure of the coast, San Roque in Cadiz stands out with a 19.8 per cent increase, thanks to its luxury amenities like golf courses and polo clubs.

San Roque, recognised as the most affluent urban centre in Cadiz, is making the most of the region’s surge in luxury developments.

At the start of this year, the property firm Acciona acquired a plot spanning 14 hectares within the area, with plans to construct an opulent hotel. This establishment is expected to feature 115 rooms alongside a collection of a hundred serviced residences.

Meanwhile, Valencia’s Quart de Poblet and Sagunto also join the list of municipalities with notable price hikes. These regions have become magnets for high-net-worth individuals from Northern Europe, attracted by the tranquility, exclusivity, and scenic ocean vistas.

The rising appeal of the Spanish coast

A report from Viva Sotheby’s highlights a shift in buyer preference towards locations like Menorca over Mallorca, and Estepona and Cadiz over Marbella, indicating a broader interest in the Costa Blanca and the Canary Islands.

As Spain’s coastal regions continue to draw in those seeking luxury and serenity, the property market’s vibrancy promises enduring appeal.