Spanish Coastal Property Update. Increase in Demand and Prices

By Salma Hwedi August 17th, 2018 · 3m. reading time

The prices of homes on most Spanish coasts grew by 6.1% year-on-year in June,
with the current average price at 1,757 euros per m².

Property prices increase in coastal areas of Spain

During the second quarter, prices increased on average by 2.3%.
The price of properties on the coast is 5.6% higher than the national average,
which stood at 1,664 euros per m².
The Balearic Islands, Canary Islands and Costa Maresme, north of Barcelona,
led the increases last year.

Coastal property prices in the Balearics increased the most (18.3%),
followed by Las Palmas de Gran Canaria (14.3%) and Costa Maresme (9.8%).
Costa del Sol grew by 9.5% and Santa Cruz de Tenerife by 9.1%.
Costa Blanca (Alicante), Costa Dorada (Tarragona) and Costa de la Luz (Cádiz)
showed increases of less than 5%.

However, regions by the Cantabrian Sea still recorded year-on-year price declines.
The greatest decrease occurred in the Biscay Coast (-5%),
followed by Costa da Morte (-1.2%), Costa Verde (-1.1%)
and the Guipuzcoan coast (-0.9%).
Costa Cálida (Murcia) was the only Mediterranean tourist area
where prices were reduced (-0.8%).

Despite the fall, the Guipuzcoan coastline remains the most expensive,
at 3,111 euros per m².
It is followed by the Balearics (2,868 euros per m²),
Maresme (2,491 euros per m²) and the Biscayan coast (2,379 euros per m²).
Costa Brava (2,164 euros per m²) and Costa del Sol (2,146 euros per m²)
are also above 2,000 euros per m².

Costa Cálida has the lowest prices, with an average of 1,060 euros per m².
Costa da Morte, Costa de Almería and La Mariña Lucense in Galicia
are close to this figure, while Costa de Valencia averages
1,215 euros per m².

This report is based on quarterly price data from Spanish property experts
in the second quarter of 2018, analysing coastal and tourist municipalities
in each province.
According to the report, Costa del Sol ranks fourth,
with rising demand and a price increase of 9.5%.

No wonder. This region offers magnificent Blue Flag beaches,
elegant boulevards, seaside promenades, orange, olive and almond plantations,
Mediterranean forests and protected natural dunes,
as well as historic towns influenced by Phoenicians, Celts,
Iberians, Romans and Moors.
It is an exceptional environment to live and work.

Buying property here is highly attractive due to strong capital appreciation,
especially in Marbella, undoubtedly one of the most famous
and exclusive destinations.

Once a small fishing village, Marbella has grown into a refined modern resort
with some of the most appealing residential areas in the world.
It benefits from scenic beauty, a unique location and one of the best climates
in Europe.

The city offers a cosmopolitan atmosphere, economic growth,
political stability, excellent infrastructure, medical care,
international education, family-friendly activities,
extensive sports facilities, renowned golf courses,
rich cuisine and vibrant nightlife.
All of this contributes to Marbella’s distinctive lifestyle.

Despite this, Costa del Sol and Marbella still offer competitive prices
compared to other regions, making them a solid and reliable investment.

Drumelia


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