Costa Blanca South
Surging property prices: Alicante s housing market sees dramatic rise
By Anna Ellis •
Published: 05 Jul 2024 • 9:15
The cost of housing in Alicante province has seen a significant rise of 10.5 per cent over the past year, with the average price now at €1,401 per square metre.
These figures are according to the latest data from the Idealista price index.
This increase underscores a growing trend in the region s real estate market, with notable differences observed across various municipalities.
Top of the List
Relleu tops the list with a staggering price increase of 32.6 per cent from the previous year.
Following closely are Hondón de los Frailes with a 32.1 per cent rise and Los Montesinos with a 22.2 per cent increase.
These areas have experienced substantial appreciation in the used housing market, largely driven by increasing demand and limited availability.
Price Decline
Conversely, some municipalities have seen a decline in housing prices.
Salinas recorded a decrease of 5.1 per cent, and Benijófar saw a 4.8 per cent drop, indicating a slight cooling off compared to the overall provincial trend.
In Alicante city, the price of used housing surged by 16.9 per cent in the last year, reaching €2,092 per square metre.
This sharp increase highlights the city s high demand and limited supply, maintaining its status as one of the province s most active real estate markets.
Scarcity of Properties
Idealista spokesperson Francisco Iñareta remarks that the primary challenge in the current real estate market is the scarcity of available properties.
The shortage of new homes for sale exerts upward pressure on prices, particularly in the most desirable areas, he explains.
On a national scale, the price of used housing in Spain climbed by 7.5 per cent over the last year, reaching €2,138 per square metre.
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Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.
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