Buying a house on the Spanish coast in 2019 is 5.7% more expensive than last year

Marbella is a popular expat area on the Costa del Sol, where average house prices exceed 2,000 euros/m2 / Wikipedia
Marbella is a popular expat area on the Costa del Sol, where average house prices exceed 2,000 euros/m2 / Wikipedia
4 September 2019, Redaction

The closing prices of homes that were sold on the Spanish coasts grew by 5.7% over the last year, up to 1,727 euros per metre squared, which is 160 euros per square foot, according to a study published by idealista.

Properties on the Costa del Sol were those that have risen the most in the last year, with an increase of 9.9%. These are followed by the coastal areas of the Balearic Islands, with a price change of 9.3%, and those on the coast of Santa Cruz de Tenerife, where prices rose by 6.3%.

Next up are the Costa del Maresme (Barcelona) with 4.6%, the Costa Cálida (Murcia) and the Costa de Valencia with 4.1% in both cases. With price rises of less than 4% were the Costa Blanca in Alicante (3.7%), the Costa de Las Palmas (3.6%), the Rías Baixas (3.2%) and the Costa de Almería (3.1%).

The Cantabrian coasts in the north of Spain, on the other hand, kept showing year-on-year drops in their prices. The greatest decrease in house prices occurred in the Mariña Lucense (-6.5%), followed by the Costa da Morte in A Coruña (-1.1%), the Costa of Biscay (-0.7%) and the Costa Verde in Asturias (-0.6%). In all other Spanish coastal areas, property prices increased.

The Balearic coast remains the area with the highest prices: 3,144 euros/m2, or 289 euros/sq ft. It is followed by the Costa Guipuzcoana (2,972 euros/m2 or 276 euros/sq ft), Maresme (2,368 euros/m2 or 220 euros/sq ft) and the Costa Brava (2,250 euros/m2 or 209 euros/sq ft). Also above two thousand euros are the Coast of Biscay (2,204 euros/m2 or 205 euros/sq ft) and the Costa del Sol (2,030 euros/m2 or 189 euros/sq ft).

The Mariña Lucense is the coastal area with the lowest prices, with sellers only asking for 949 euros/m2, or 88 euros/sq ft. Close behind it comes the Costa da Morte with 957 euros/m2, or 89 euros/sq ft, then the Costa del Azahar in Castellón (1,044 euros/m2 or 97 euros/sq ft), the Costa de Valencia (1,118 euros/m2 or 104 euros/sq ft) and the Costa Cálida (1,144 euros/m2 or 106 euros/sq ft).

Methodology

The data used to produce this report has come from the quarterly price report drawn up by idealista in the second quarter of 2019, analysing only the coastal and tourist municipalities in each of the provinces of Spain.

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