Welcome to our in-depth analysis of Spain’s real estate market in 2023, a year that saw an unprecedented influx of foreign buyers despite economic uncertainties and rising interest rates. The year marked a significant shift in the landscape of property purchases in Spain, with foreign investors playing a pivotal role. From the sunny coasts of Valencia to the bustling streets of Madrid, international homebuyers, led by the British, Germans, and Moroccans, have shown a growing appetite for Spanish properties.
This blog delves into the fascinating trends of 2023, highlighting key statistics, buyer preferences, and the evolving dynamics of Spain’s property market. Whether you’re an investor, a potential homebuyer, or simply curious about the latest market trends, join us as we explore what made 2023 a landmark year in Spain’s real estate history.
Record Foreign Investment: In the first half of 2023, foreigners accounted for 21.4% of home purchases in Spain, a record since data collection began.
Top Buyers by Nationality: Brits (9.6%), Germans (8.1%), and Moroccans (7.3%) led in home buying, with significant transactions despite interest rate hikes.
Sales Figures: 67,983 properties sold to foreigners, third-best historically. 56.8% of these sales were by resident foreigners, a slight year-on-year decline.
Preferred Locations: Coastal regions like Valencia, Andalusia, and Catalonia were top choices for foreign buyers.
Pricing Trends: Average transaction price for foreign buyers was €2,095/m2, surpassing the national average. Non-resident foreigners paid the most, at €2,598/m2.
Nationality-Specific Insights: Swedes and Danes paid the highest prices per square meter. Russians, French, Italians, and others also exceeded the national average.
Transaction Breakdown: Majority of foreign purchases were for first residences (68%), followed by second homes (21%) and rental investments (11%).
Mortgage Trends: Germans led in mortgage applications, with a rise in younger, digitally savvy buyers.
Rental Market Growth: Rental interest, especially in coastal areas, surged in 2023, with significant foreign inquiries on properties in less populated towns.
Welcome to Sunrise Views, your idyllic home nestled in the serene surroundings of Alenda Golf Course in Monforte. Just a stone’s throw away from the hustle and bustle of the airport, major cities, and some of Alicante’s finest beaches, you’re never more than a 15-minute drive from the vibrant towns of Elche and Alicante.
This private residential complex boasts spacious duplex homes, each featuring 3 cosy bedrooms, 2 modern bathrooms, and a convenient guest toilet. Every house comes with its own charming private garden, a sun-soaked solarium, and a designated parking space, ensuring both comfort and convenience.
At Sunrise Views, we’re proud to offer homes equipped with a state-of-the-art aerothermal energy system. This eco-friendly solution provides efficient heating, air conditioning, and domestic hot water, harnessing the power of the environment to create a sustainable and comfortable living space.
Step outside your door and into the sprawling expanse of the Alenda Golf housing development. Spanning over 1.3 million square metres, this low-density area is not just a place to live, but a community to be a part of. Here, you’ll find top-notch facilities including the prestigious San Alberto Magno School, a fully-equipped gym, a golf academy for the aspiring golfer, the delightful Alenda Restaurant, a cosy café, a handy supermarket, and a social and leisure centre designed for fun and relaxation.
The heart of our community, the Alenda Golf course, is a masterpiece crafted by Roland Favrat. Respectfully designed to harmonise with the natural terrain and vegetation, it was completed in October 1999. The course spans 49 hectares, featuring 18 holes, par 72, and stretches over 6,257 metres, accompanied by an excellent practice area. It’s not just a golf course; it’s an experience.
The builders continue to build and shape the future of Sunrise Views, we’re thrilled to report that construction is advancing swiftly. This rapid progress underscores the high demand for these exceptional properties. As a savvy investor or a discerning homebuyer, it’s crucial to seize the opportunity now. By acting promptly, you can select the prime property positions that perfectly align with your preferences and lifestyle needs. Whether it’s a home with a stunning golf course view, a property closer to the community amenities, or a quiet corner unit, now is the time to make your choice.
Don’t miss out on the chance to be a part of this thriving community. As units are selling fast, securing your spot early ensures that you get the best of what Sunrise Views has to offer. Remember, the early bird gets the worm, and in this case, the most exquisite living experience in Alicante. Make your move now and invest in a lifestyle that promises comfort, luxury, and a touch of exclusivity.
Welcome to Sunrise Views – where luxury meets sustainability and community spirit thrives. Your new home awaits!
Right at this very moment, the Alenda Golf community is undergoing a remarkable transformation. Alenda Golf is in the process of expanding, by introducing three expansive residential areas for luxurious villas, which are located at the lower portion of the golf course, adjacent to the 7th, 8th and 5th holes.
Whilst the exact count of plots remains undisclosed, it’s safe to assume that there are over 40 of them in this new development phase.
Additionally, an independent and well known local builder is hard at work crafting larger-than-average 3-bedroom townhouses towards the upper end of the golf course. These townhouses are currently available for purchase and will be ready for occupancy soon.
They are aptly named “Sunrise Views” due to the breathtaking vistas they offer overlooking the lush greens of the golf course towards the coast.
This is a truly exhilarating time for both our existing residents and those considering making Alenda Golf their new home.
The expansion of our community promises to bring even more charm and elegance to our already picturesque surroundings.
One of Alenda Golf’s greatest assets is its strategic location. Situated just 15 minutes away from the airport, it offers convenient accessibility for international visitors. The charming city of Elche is a mere 10-minute drive, while the vibrant attractions of Alicante are only a short 15-minute journey by car. Monforte del Cid, a local village with bars, shops and restauarants is just a 5 minute trip along the moroway.
If you’ve been contemplating a move to Alenda Golf or an investment, now is the perfect time to make that decision.
Take advantage of this opportunity before property prices begin to rise as they have done on the Coasta Del Sol by 7.5%
Join us in this exciting phase of growth and be part of our thriving community here at Alenda Golf.
The Costa del Sol’s property market is on a remarkable upswing, with a staggering 7.6% growth in 2023. Let’s delve into the latest trends and factors behind this flourishing real estate landscape.
Property prices in Costa del Sol rose by 7.6% in 2023, averaging €1,977 per square meter.
Marbella is the most expensive place to buy property in the region, with an average valuation of €3,343 per square metre.
Benalmadena, Estepona, Fuengirola, Mijas, and Torremolinos all have average property prices exceeding €2,000 per square metre.
Foreign buyers account for a significant 34% of the market, reflecting international interest in Costa del Sol real estate.
Over 35,500 property transactions occurred in the region in 2023, making it the fifth busiest market in Spain.
Luxury properties are prevalent, with 35% priced over €1 million and a notable concentration in the ‘Golden Triangle.’
The golf property market is booming, attracting enthusiasts and investors alike.
Property prices in Marbella and Estepona have seen substantial increases in the past two years.
Experts predict a further 7% rise in residential house prices in Spain for 2024.
Spain’s robust economy continues to drive demand for real estate in the region.
In conclusion, the remarkable growth in the Costa del Sol property market has garnered attention, and it is widely perceived that prices on the Costa Blanca will similarly rise, driven by the expanding golf market, making it an appealing prospect for both investors and homebuyers.
Spain: The Premier Choice for Remote-Working Brits
In today’s fast-paced world, remote work has gained immense popularity, and for UK professionals seeking a better quality of life, Spain has emerged as the ultimate dream destination. According to Nebeus’ 2023 study on remote work trends, Spain takes the top spot, and in this article, we’ll explore why Spain is the preferred choice for digital nomad Brits.
The Rise of Remote Work in the UK
Remote work has become a global phenomenon, and in 2023, 44 percent of British people embraced this trend. It not only slashes commuting expenses but also provides the opportunity to work from exciting new locations. Nebeus conducted a survey of 400 UK professionals, delving into their attitudes towards remote work abroad, with a particular focus on financial aspects.
Spain Leads the Way
When it comes to relocating for a better quality of life, one country stands out as the top choice for remote work among UK nationals – Spain. An impressive 22 percent of respondents chose Spain as their preferred destination. The United States received 19 percent of the votes, followed by France at 13 percent. Other countries, such as Portugal (6 percent), Southeast Asia (5 percent), and Latin America (3 percent), also made appearances in the rankings.
The Allure of Spain
Spain’s appeal lies in its unique blend of tradition and modernity, its warm ambiance, and a relaxed lifestyle. According to the survey, the most popular Spanish regions among UK remote workers are Barcelona (14 percent), Valencia (7 percent), and Madrid (5 percent).
Unveiling the Digital Nomad Visa
Surprisingly, 89 percent of respondents were unaware of Spain’s Digital Nomad Visa, a visa designed to enable remote work without requiring a job change. This lack of awareness underscores the need for better promotion of this visa, which offers flexibility while enjoying the benefits of Spain and retaining UK employment.
Concerns and Considerations
When contemplating a move to Spain, respondents expressed several concerns, including healthcare costs, language difficulties, and the cost of living. Fifty-three percent of participants cited language difficulties as their primary concern. This concern was particularly pronounced in Scotland and the East of England, both at 62 percent, and Yorkshire at 58 percent.
In terms of finances, 51 percent believed their spending power in Spain would match or exceed that in the UK. Interestingly, Londoners expected a higher spending power in Spain, keeping the cost of living in mind.
Higher-income individuals were found to be less inclined to move abroad, possibly due to tax considerations or job seniority. On the other hand, those with mid-range salaries were the most willing to relocate for remote work. Parents tended to be more hesitant, primarily concerned about their children’s wellbeing, schooling, and leaving friends behind, while non-parents were generally more open to the idea.
Nebeus’ Survey Highlights Growing Interest
Nebeus’ survey reflects a growing interest in remote work abroad among UK professionals, emphasizing the need for accurate information about digital work visas and addressing linguistic, financial, and cultural challenges. As the working landscape continues to evolve, remote work is becoming an increasingly viable option, reshaping careers and lifestyles.
Conclusion
In conclusion, Spain has emerged as the top choice for UK professionals seeking a better quality of life through remote work. Its unique combination of tradition and modernity, warm ambiance, and relaxed lifestyle make it an attractive destination. While challenges such as language difficulties and healthcare costs exist, Spain’s Digital Nomad Visa offers flexibility and opportunities for remote work without job changes. As the world of work continues to change, Spain stands as a beacon for those seeking new horizons.
Read the full Blog Here https://blog.nebeus.com/why-spain-tops-the-dream-list-for-remote-working-among-brits/
The Costa Blanca Tourist Board is honing its tourism strategy for the Nordic market, with a particular emphasis on hotel and golf offerings.
This campaign will be on full display at the ‘Matka Nordic Travel Fair’ in Helsinki, Finland, running from January 18 to 21.
The primary objective is to spotlight the region’s golf facilities and hotel accommodations.
The ‘Matka Nordic Travel Fair’ stands out as the most popular and successful event in the northern European tourism industry. It provides a substantial platform to showcase Alicante’s attractions and foster connections with Nordic countries, the Baltic countries, and Russia.
The fair anticipates drawing over 70,000 visitors over its four-day duration, including roughly 21,000 travel industry professionals, and receiving coverage from 1,200 media outlets.
The Nordic market encompasses Sweden, Norway, Finland, Denmark, and Iceland, with a collective population of over 26 million residents who embark on more than 38 million international trips annually.
During the 2022-2023 winter season, Alicante-Elche Miguel Hernández Airport offered 330 flights and nearly 60,000 seats connecting to Helsinki. This marked a remarkable 77% increase compared to the same period in the previous year.
Ryanair’s CEO, Michael O’Leary, met with Spain’s President, Pedro Sánchez, lasy week to discuss the company’s £5 billion investment plan in Spain over the next seven years.
The airline’s investment plan aims to increase passenger numbers from the current 55 million to 77 million and expand the number of routes from 730 to over a thousand by 2030. This plan includes the deployment of 33 new, more sustainable aircraft that emit 20% less CO2 and the opening of five new bases.
Ryanair will commence flights between Alicante Elche Miguel Hernandez and Barcelona El Prat airports on April 1, 2024. Initially, there will be three weekly flights on Mondays, Wednesdays (Thursdays from April to June), and Fridays. Starting in October, the route will expand to four weekly flights, including an additional flight on Thursdays.
This announcement marks Ryanair’s return to the Alicante-Elche to Barcelona route after an absence of 11 years. With the reopening of this route, Ryanair will achieve a historic milestone by operating 10 domestic destinations during the 2024 summer season.
Vueling currently offers flights between these two cities starting from £15 (excluding fees), with a flight duration of just over an hour (excluding check-in time).
The train journey from Alicante to Barcelona takes a little over 4 hours and is considered by train operator Renfe as “the fastest, most comfortable, and sustainable way to travel.” Prices for train tickets start from a little over £40.
In a historic move, an estimated 3.4 million British citizens living abroad can now vote in British General Elections and referendums, thanks to the Elections Act 2022.
This marks the most significant expansion of the British electoral franchise since women gained suffrage in 1928.
Key Points:
Removal of 15-year limit: Effective January 16, 2024, the 15-year voting limit for British citizens abroad has been abolished.
Simplified online registration: British citizens living abroad can easily register online, tied to their last UK address, whether for voting or residency.
Extended electoral participation: Registered expatriate voters will stay on the electoral roll for up to 3 years, with options for postal or proxy voting.
‘Votes for Life’ campaign: The victory of this campaign, championed by Conservatives Abroad, ensures expatriates’ voting rights despite opposition from Labour and Liberal Democrat parties.
Political reactions: Heather Harper MBE, Chairman of Conservatives Abroad, highlights the importance of recognizing the rights of British citizens worldwide.
This historic moment strengthens British democracy, allowing expatriates to actively shape their homeland’s future, regardless of their time spent overseas.
It represents a significant step in including the global community of British citizens in the democratic process.
In the pursuit of a serene and fulfilling lifestyle, expats around the globe have been captivated by the allure of Spain’s most charming cities. The recent survey by InterNations, an esteemed online community for international workers, has placed Malaga, Alicante, and Valencia at the pinnacle of expatriate living.
This revelation is not just a testament to the enchanting appeal of these cities but also a beckoning to the idyllic life at Alenda Golf – a haven where space to breathe, live, and play is abundantly realized.
In the heart of this expat paradise lies Malaga, crowned as the world’s top-rated city for expats in the 2023 InterNations survey. Hot on the heels of the leader and capturing second and third places respectively, Alicante and Valencia stand out, each with their own unique allure
Alicante is recognised for its affordability, particularly in housing, making it an attractive destination for those seeking a comfortable lifestyle without the hefty price tag. Valencia, on the other hand, shines in healthcare, ensuring residents peace of mind with excellent medical facilities and services. This trifecta of Spanish cities, completed by Madrid’s sixth-place ranking, underscores Spain’s unparalleled allure as a haven for expatriates.
But what does this mean for those considering Alenda Golf as their new home? Nestled within the embrace of these top-rated cities, Alenda Golf offers a lifestyle that resonates with the desires of modern expatriates. It’s a place where the spaciousness of the surroundings harmonises with the welcoming spirit of the local communities. Here, residents are not just finding a place to reside; they’re discovering a world where life is lived to its fullest – with ample space to breathe, live, and indulge in playful leisure. Alenda Golf is not just a property; it’s a gateway to a life style amidst the best cities in the world for expats.
Whether it’s the friendly faces in Malaga, the affordable elegance of Alicante, or the health-conscious environment of Valencia, these cities, in unison with the lifestyle at Alenda Golf, present a compelling narrative for anyone seeking a space that embodies the essence of living. It’s more than a change of scenery; it’s a transformation of life itself.
Recent rainfall in Spain provided a brief respite, but the catastrophic impact of the country’s prolonged drought continues to escalate. Spain is now confronting a ‘national disaster’ as it rapidly depletes its reserves of a cherished staple: olive oil, often referred to as their ‘liquid gold’.
For centuries, olive trees have flourished across the Mediterranean, with Spain alone accounting for over half of the global olive oil production. However, the relentless wildfires and extreme heat during the summer of 2023 have cast a shadow of uncertainty over the future of this venerable industry. Following a disappointing harvest in December, there’s an alarming warning that Spain might, for the first time in its history, exhaust its olive oil supply. Experts anticipate this could occur as soon as September this year. The olive harvest at the end of 2023 yielded a mere 321,000 tons, the lowest in 40 years and considered woefully insufficient.
According to Mintec, a commodities data group, Spanish manufacturers currently hold approximately 115,000 metric tonnes of olive oil in stock, while the country consumes an average of 60,000 tonnes monthly. Rafa Guzman, a Spanish olive grower from Jaen, reveals that many farmers are on the brink of financial collapse. “The harvest is down by 70-80 percent. Some growers haven’t harvested a single kilo of olives. Even with olive oil priced at €8 per bottle, it’s insufficient to sustain them,” he explains.
This crisis isn’t confined to Spain alone. Other olive-producing nations such as Greece, Italy, Portugal, Turkey, and Morocco are also grappling with similar shortages, forcing many European producers to import olive oil from South America to meet demand.
Experts warn that the situation is likely to worsen annually, as the climate emergency is expected to lead to hotter, drier conditions and more extreme weather events.
Jet2.com and Jet2holidays have significantly enhanced their summer 2024 offerings from Manchester Airport, with a special focus on flights to Alicante.
This expansion caters to the rising demand for travel to this popular Spanish destination.
The enhanced schedule includes additional flights to Alicante, operating on Wednesdays, Thursdays, and Sundays from May 26 to October 31.
This increase forms part of Jet2’s most extensive summer program from Manchester Airport, where they will operate over 340 weekly flights to 58 destinations during peak times.
Alongside Alicante, the expanded program also covers other destinations, but the additional 13 weekly flights to Alicante highlight the company’s commitment to providing more options for travelers seeking the sunny allure of Spain’s famous Costa Blanca.
In 2024, travellers will face a host of new travel and flight regulations.
These changes include the introduction of tourist taxes, fingerprint checks, amendments to the 100ml liquid rule for hand luggage, and a £6 fee for EU entry.
For those planning to travel in 2024, it’s crucial to be aware of the upcoming alterations encompassing EU border controls, visa requirements, hand luggage regulations, passport guidelines, and tourist taxes. Here is a detailed rundown of what to expect:
New Travel and Flight Rules for 2024 (UK English Summary):
Tourist Taxes: Possible implementation of ‘tourist taxes’ in destinations like Valencia, Spain. Charges vary between €0.50 and €2 per night in hotels, apartments, campsites, and hostels.
Fingerprint Checks and EU Entry/Exit System (EES): Starting autumn 2024, non-EU citizens must register fingerprints, facial images, and travel details upon entering or exiting EU countries.
ETIAS for UK Nationals: Mandatory European Travel Information and Authorisation System (ETIAS) for British citizens travelling to EU states. Valid for three years or until passport expiry, costing €7 for ages 18-70. Free for under-18s and over-70s. Expected to be operational in 2024.
100ml Liquid Rule Changes: From June 2024, UK travellers can carry up to two litres of liquids in hand luggage due to upgraded airport security scanners.
Passport Regulations: Passports must be less than 10 years old on travel day and have at least three months remaining post-return.
Children and e-Gates: Since July, children aged 10 and above can use e-Gates at 13 UK airports and Eurostar terminals in Brussels and Paris. Previously, the minimum age was 12.
For comprehensive details on obtaining your visa, visit the Spain Visa Application Centre website. This platform offers guidance on applying for a Schengen visa for Spain as your primary destination. The site’s instructions are designed to assist in preparing your documents correctly, minimizing the risk of delays or rejections due to incomplete or incorrect submissions. Here is a link https://uk.blsspainvisa.com/london/index.php
Reglamentos Actualizados de España para el Transporte de Perros en Coches
¿Están preparados tú y tu compañero canino para un viaje? Las recientes enmiendas a la Ley de Bienestar Animal han transformado la manera en que se transportan las mascotas, especialmente los perros, en vehículos. El incumplimiento de estas normas podría resultar en multas sustanciales, alcanzando hasta 10.000 euros.
Implementada hace unos meses, la Ley de Bienestar Animal ha introducido cambios notables en el cuidado de las mascotas, particularmente en lo que respecta al transporte de perros en coche.
La Dirección General de Tráfico (DGT), bajo la dirección de Pere Navarro, ha destacado la importancia del transporte adecuado de mascotas: ‘Los animales que no están asegurados adecuadamente en los vehículos representan un riesgo significativo de lesiones para todos los pasajeros.’ Sin embargo, la DGT no ha emitido directrices explícitas, dejando los detalles específicos a la ley misma.
Seguridad y Comodidad para los Pasajeros Caninos
Según el Artículo 18.1 de la Ley de Bienestar Animal, es responsabilidad del conductor asegurarse de que las mascotas estén situadas de manera segura y cómoda en el vehículo, para evitar distracciones al conductor.
Los perros deben tener espacio adecuado, y los propietarios deben considerar sus necesidades básicas, como acceso a agua, comida y paradas regulares. Durante los meses más cálidos, es crucial mantener una adecuada climatización y ventilación para su bienestar.
Descanso, Alimentación y Documentación
La legislación también exige que los perros tengan períodos de descanso suficientes y acceso a agua y comida para mantener su salud.
También es obligatorio llevar la documentación del perro. La DGT sugiere que ‘los perros idealmente deben colocarse en un transportín en la parte trasera, asegurados a los asientos, o restringidos con un dispositivo sujeto a los cinturones de seguridad, que debe ser un arnés, no un collar.’
El arnés recomendado de dos ganchos evita que el perro se mueva hacia adelante, asegurando que el conductor no se distraiga indebidamente. Se aconseja una correa corta para evitar que la mascota alcance los asientos delanteros.
Esta actualización legal tiene como objetivo mejorar la seguridad vial y el bienestar animal, asegurando que las mascotas sean tratadas con cuidado y respeto durante el viaje. Marca un paso significativo en el reconocimiento de las necesidades de nuestros amigos caninos e integrándolos de manera más segura y cómoda en nuestros viajes.
Spain’s Updated Regulations for Dog Transport in Cars
Are you and your canine companion prepared for a journey? The recent amendments to the Animal Welfare Law have transformed the way pets, especially dogs, are transported in vehicles. Non-adherence to these rules could result in substantial fines, reaching up to 10,000 euros.
Implemented a few months back, the Animal Welfare Law has brought about notable changes in pet care, particularly concerning the transportation of dogs by car.
The General Directorate of Traffic (DGT), under the leadership of Pere Navarro, has highlighted the importance of proper pet transport: ‘Improperly secured animals in vehicles pose a significant risk of injury to all passengers.’ However, the DGT has not issued explicit guidelines, leaving the specifics to be determined by the law itself.
Safety and Comfort for Canine Passengers
According to Article 18.1 of the Animal Welfare Law, it is the driver’s responsibility to ensure that pets are securely and comfortably situated in the vehicle, to prevent any distraction to the driver.
Dogs must be provided with adequate space, and owners should consider their basic needs, such as access to water, food, and regular stops. During warmer months, it is crucial to maintain proper air conditioning and ventilation for their well-being.
Rest, Nourishment, and Documentation
The legislation also requires that dogs are given sufficient rest periods, and have access to water and food to maintain their health.
It is also mandatory to carry the dog’s documentation. The DGT suggests that ‘dogs should ideally be placed in a carrier at the back, secured to the seats, or restrained with a device attached to the seat belts, which should be a harness, not a collar.’
The recommended two-hook harness prevents the dog from moving forward, ensuring the driver is not unduly distracted. A short tether is advised to stop the pet from reaching the front seats.
This legal update aims to improve road safety and animal welfare, ensuring that pets are treated with care and respect during travel. It marks a significant step in recognizing the needs of our canine friends and integrating them more safely and comfortably into our travels
The allure of moving to Spain continues to captivate many, especially those from Britain. Despite Brexit’s complexities, the trend of Britons relocating to Spain is on the rise. Recent figures from the National Statistics Institute of Spain (INE) highlight this growing phenomenon.
There’s been a significant uptick in the number of British citizens making Spain their home, with a notable increase of 11,047 individuals in the last year alone. As of January, Spain’s official census reports a remarkable total of 293,171 UK nationals residing in the country.
So, where in Spain are Brits settling down? The region with the highest concentration of British expats is Andalusia, home to 92,180 British residents. The Valencia region is not far behind, hosting 87,699 Britons. Ranking third is the Canary Islands, with a British population of 29,631. Other areas gaining popularity among British expats include Catalonia, the Balearic Islands, and Murcia, which is seeing a rapid rise in British residents.
Check out Alenda Golf its 15 minutes form Alicante , its airport and the beautiful Elche with its narrow streets full of restaraunts, bars and shops.
Pre-owned homes in Spain witnessed a notable escalation in value during 2023, with prices surging by an average of 8.1%, culminating in a cost of 2,042 euros for each square metre. This data, gathered from the latest Idealista price index.
The analysis focused on quarterly shifts, reveals a 1.7% increase in values post-summer. A series of factors has led to this upward trajectory, including a strong demand outpacing the supply, particularly in the areas of new constructions. Additionally, a heightened international appetite for properties has further fueled this trend.
Leading the charge in this inflationary trend is Soria, boasting a staggering 23.1% increase, closely trailed by Santa Cruz de Tenerife and Huesca, with 20.9% and 18.5% respectively. In the more populous markets, Alicante, Malaga, Valencia, and Palma have also seen significant upticks, ranging from 12% to 17.5%.
This trend of soaring prices isn’t limited to specific areas; it’s a pattern reflected throughout all Autonomous Communities in Spain, with each one witnessing an increase in the past year. The Balearic Islands, Comunitat Valenciana, Andalusia, and Murcia stand out with their substantial hikes, registering increases between 9.8% and 12.7%.
Basically, the Spanish property market, especially for second-hand homes, has seen strong growth. This is due to a mix of local and global reasons, which have changed the way the housing market works.
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