Strong Growth for Costa del Sol and Costa Blanca in 2024
Real Estate Market in Costa del Sol & Costa Blanca: Strong Growth in 2024
The real estate markets in Costa del Sol and Costa Blanca are experiencing significant growth in the first quarter of 2024, fueled by increasing foreign investment, rising property values, and consistent demand for new developments.
Costa del Sol: A Hotspot for International Buyers
In Costa del Sol, property prices saw a 4.16% increase compared to the previous quarter, outpacing the national average. Marbella led the way with the highest quarterly price increase, reaching 5.6%. The average price of properties in Marbella is around €5,501 per square meter. This region continues to attract many buyers, especially from abroad, due to its favorable climate, luxurious lifestyle, and outstanding amenities.
Other areas along Costa del Sol, such as Mijas and Fuengirola, have also reported positive trends, with prices rising by 4.11% and 3.18% respectively. The overall appeal of this area is driven by its vibrant culture, world-class golf courses, and proximity to beautiful beaches.
Costa Blanca: A Thriving Market for Luxury Properties
Moving to Costa Blanca, the real estate market remains dynamic. In Q3 2023, Costa Blanca accounted for 16.41% of the total Spanish real estate market. A substantial portion of these purchases—about 44.43%—came from international buyers, reflecting the region’s appeal to foreigners.
New developments in Costa Blanca have seen an increase of 4.8% in prices, while existing homes experienced more modest gains. The Alicante province, in particular, is attracting attention as a hotspot for luxury properties, with high demand in areas known for their exceptional quality of life.
Looking Ahead: Strong Forecast for 2024
Both the Costa del Sol and Costa Blanca markets are expected to continue their upward trajectory throughout 2024. High foreign investment, coupled with an increasing preference for new and luxury homes, presents a promising outlook for the real estate industry in these regions.
The ongoing economic stability in Spain further enhances the investment appeal of these areas. Costa del Sol and Costa Blanca are offering a wide range of properties, from luxury villas to modern urban apartments. Whether you are looking to buy a holiday home or invest in a prime property, 2024 is an excellent time to explore the real estate opportunities in Spain.
