Real estate prices in Spain continue to climb and the Valencian Community is once again one of the regions making the biggest leaps.
The latest figures from the Idealista property price index show that the national average reached €2,605 per square metre in November. That is a rise of 16.1% in a year and the highest resale level since Idealista began tracking the market.
Across the country, every Autonomous Community recorded an increase, but the Valencian Community stood out with growth of 17.3%, slightly above the national pace. Demand along the Costa Blanca, together with strong interest in both Alicante and Valencia city, continues to push prices upwards and shows little sign of easing.
Several other regions are also racing ahead. Murcia has seen the fastest rise at 22.5%, followed by Madrid at 21%, Andalusia at 19.8% and Cantabria at 18.8%. By contrast, communities such as Extremadura, Navarre, Galicia and Castilla y León are experiencing far more restrained growth, all below 6.5%.
Spain’s real estate: Strongest performers
The province of Valencia has been one of the strongest performers, with resale prices rising by 22.3% in the past year. Alicante has also had a very solid run, climbing by 13.4%. Much of this is fuelled by the long standing attraction of the Costa Blanca, where both Spanish buyers and international investors continue to favour the lifestyle on offer, along with the region’s stable resale market.
Valencia city has posted an annual rise of 15.3%, proof that the urban market remains lively. Alicante city and many of the surrounding coastal towns are also showing clear upward movement, helped by their combination of year round appeal and investment potential.
In terms of price levels, Madrid at €5,758 per square metre and Barcelona at €5,089 per square metre remain the most expensive major cities. Even so, the Costa Blanca continues to offer a more accessible option while still providing beaches, sunshine and the sort of day to day quality of life that buyers fall for rather quickly.
The future for Spain’s real estate market
Looking ahead, the outlook for the Valencian Community remains positive. Demand from both local and foreign buyers is steady and resale prices are expected to hold firm, especially in coastal areas where lifestyle and long term value continue to run side by side.
