Like a scene from a Tom Cruise film, buying a new-build home on the Spanish coast has become a near-impossible mission, thanks to the sharp rise in prices.
According to the appraisal firm Tinsa, the average price of a new-build property in Spain rose 7.6% last year compared with 2023, reaching €2,528/m². In some coastal hotspots, however, price growth has exceeded 20%, reflecting the high demand in the most sought-after locations.
Topping the ranking is Vigo, where the price of new-build homes rose 25% in 2024 compared with the previous year, reaching €2,676/m².
In second place is Castelldefels, near Barcelona, where new property values jumped 24.5% in 2024 to €4,427/m² – the highest in the ranking. By comparison, prices in Barcelona city centre are close to €5,000/m², but annual growth has been minimal at just 0.9%.
Completing the podium is Málaga, just behind Castelldefels, with a year-on-year increase of 24.4% in 2024, taking the average price to €3,428/m².
Next are Benidorm (Alicante) and Santander, where new-build prices rose 20.5% and 20.2% respectively, reaching €3,599/m² and €2,471/m².
Vélez-Málaga and Cartagena (Murcia) are next, both seeing year-on-year increases of 18.8%. However, prices differ: €2,320/m² in Vélez-Málaga and €1,879/m² in Cartagena.
Rounding out the top 10 are Palma de Mallorca, Valencia, and San Fernando (Cádiz), with price rises of 15.1%, 13.7%, and 11.3% respectively.
Finally, several towns still recorded increases above 10%, including Alicante and Marbella (Málaga) at €4,130/m², as well as Motril (Granada) and Almería, with growth ranging from 10.3% to 10.9%.
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