Costa del Sol and Costa Blanca (Q1 2024)

The real estate markets in Costa del Sol and Costa Blanca are showing strong growth in the first quarter of 2024. This growth is attributed to foreign investment, increasing property values, and a steady demand for new developments.

In Costa del Sol, property prices increased by 4.16% compared to the previous quarter, which is higher than the national average. Marbella experienced the most significant quarterly increase, reaching 5.6%, with average prices around €5,501 per square meter. The region's appeal continues to attract many buyers, especially foreign investors, due to its favorable climate, lifestyle options, and excellent amenities. Areas like Mijas and Fuengirola have also reported positive trends, with prices rising by 4.11% and 3.18%, respectively.

Moving to Costa Blanca, the real estate market remains active, with a substantial number of home sales recorded in Q3 2023, accounting for 16.41% of the total Spanish market. A noteworthy portion of these purchases, about 44.43%, were made by international buyers. New builds in this region saw a 4.8% price increase, while existing homes experienced more modest gains. The Alicante province, in particular, is a hotspot for luxury properties, reflecting high demand in areas renowned for quality living.

Looking ahead, both markets are expected to continue their upward trend throughout 2024. The high levels of foreign investment, coupled with a preference for new and luxury homes, suggest a promising real estate landscape. The ongoing economic stability in Spain further enhances the investment appeal of these regions. For potential buyers, Costa del Sol and Costa Blanca offer diverse opportunities, ranging from luxury villas to urban apartments, making it an excellent time to explore property investments in Spain.

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