A SURVEY by real estate portal Fotocasa shows that house prices in Spain’s coastal areas have doubled and even tripled over the last five years.
It says that prices are now at levels seen in exclusive areas of Madrid, Barcelona and San Sebastian.
Santa Eularia des Riu on Ibiza has seen the biggest price hike over five years.
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The study shows it reached a price of €8,491 per m2 in June compared to €4,416 recorded in June 2021- a 91% increase.
A property covering 80 m2 in Santa Eularia, comes in at an average of €679,302 compared to €353,298 five years ago.
Fotocasa’s Director of Studies, Maria Matos, says that coastal properties now have some of the biggest pressure on prices in Spain.
Matos says this is down an increasingly scarce supply of homes, the strong international appeal of coastal destinations and a growing demand driven by both those looking for a permanent home, a second home or investors.
Among the coastal municipalities with the highest average asking price in June are Sant Antoni de Portmany (€8,284/m2); Eivissa (€7,441); Calvia (€7,340); Donostia-San Sebastian (€7,158); Sitges (€6,528); Marbella (€5,767); Barcelona city centre (€5,368); Palma de Mallorca (€5,275); Estepona (€5,199) ; Fuengirola (€5,098); Tarifa (€5,094) ; Adeje (€4,944); Calpe (€4,877) and Getxo (€4,869) .
The Fotocasa survey also highlights El Verger in Alicante province for having some of the highest increases at this time of the year.
It points out an increase of 305% compared to 2021 values, with a cost of €4,118 per m2, compared to €1,016 in June 2021.
The 15 coastal municipalities with the cheapest average price per m2 are Lepe (€1,133); La Union (€1,208); Amposta (€1,251); Vicar (€1,263); Deltebre (€1,310); Almazora (€1,356); Nules (€1,368); Adra (€1,446); Burriana (€1,455); El Ejido (€1,456); Tavernes de la Valldigna (€1,514); Algeciras (€1,560); Ferrol (€1,632); Barreiros (€1,635) and Isla Cristina (€1,652).
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