Before you know it, summer will be upon us again and the market for second homes and holiday homes in Spain continues to grow. In 2019, there was a notable increase in both local and foreign demand. According to a study by the real estate agents, donpiso, 70% of second homes in Spain are located in coastal areas, both on the coasts of the peninsula and in the Balearic and Canary Islands where Tenerife is always a favourite holiday home destination, along with Fuerteventura, Lanzarote and Gran Canaria.
The areas with the highest demand for the purchase or rental of second homes in summer are unsurprisingly those located on the Mediterranean coast, where the average price is around 200,000 euros. The average profile of holiday home buyers is that of couples aged between 35 and 49, with children and a stable income of over 3,500 euros per month.
"The market for buying and selling holiday homes experiences its most dynamic months from the beginning of the year and leading up to the summer season, while in the summer season itself more rental contracts are formalised. In recent years, the second home sector has been experiencing gradual growth due to the general recovery of the economy and the increased flow of credit," said Emiliano Bermudez, deputy general manager of donpiso.
By region, Murcia is the cheapest of the Spanish coasts with an average price of around 150,000 euros for a flat, followed by Tarragona (160,000 euros), Alicante (200,000 euros) and the Costa Brava (250,000 euros). The Costa del Sol, however, turns out to be a much more expensive option, with an average price of over 350,000 euros.
Find out more about last year's property prices on the Spanish coasts