The luxury housing sector in Spain has experienced steady growth in recent years, with a significant increase in demand for exclusive properties and the revaluation of real estate in some of the country's most sought-after areas. This phenomenon has been particularly consolidated in places like Altea, Calpe, Benidorm, and Moraira, where Premium Villas Costa Blanca has witnessed this boom. In this article, we will explore the reasons behind this growth, emerging trends in the market, and the opportunities it offers for investors in 2024.
Since 2019, luxury home prices in Spain, especially those valued at over 3 million euros, have recorded a notable 37% increase, according to data from Tecnitasa. This growth has raised the average price of luxury properties from 3.8 million euros in 2019 to almost 5.4 million in 2024. In the last year alone, the increase has been 4.5%, highlighting the strength of this sector.
The increase in the value of luxury properties in Spain is due to several factors, including:
Traditionally, Madrid, Barcelona, and the Balearic Islands have been the benchmarks for the luxury market in Spain. However, new areas, such as Alicante and Girona, have emerged as key growth points in this segment. In particular, Alicante has recorded the highest price increase in the last year, with growth of 9.6%. This is partly due to Alicante starting with more accessible prices compared to other areas, facilitating its revaluation.
Altea, in the province of Alicante, has been one of the favorite destinations for international buyers seeking luxury properties on the Costa Blanca. With its mix of panoramic sea views, traditional architecture, and unbeatable Mediterranean climate, Altea has attracted high-level buyers interested in acquiring a second home or a property to enjoy year-round.
On the other hand, Madrid and Barcelona continue to be epicenters of luxury in Spain, with increases of 7.48% and 7.73%, respectively, in the last 12 months. In Madrid, neighborhoods such as Salamanca and Recoletos are the most coveted, while in Barcelona, the areas of Pedralbes and Eixample remain the most valued.
The Balearic Islands maintain their position as the region with the highest prices in the luxury real estate sector. In this area, properties with values exceeding 50 million euros have been recorded, with Pollença being one of the most exclusive destinations for the international elite. More than 15% of luxury properties in the Balearic Islands are valued at over 10 million euros, reflecting the exclusivity level of the region.
However, the Balearic Islands are not the only focus of attention. The areas of the Costa Blanca, such as Altea and Moraira, also offer a high level of exclusivity and luxury, with properties that not only stand out for their value but also for the quality of life they provide.
The luxury market in Spain is not only revaluing due to locations but also due to trends that are reshaping supply and demand. Some of the main trends include:
For investors seeking luxury properties in Spain, the Costa Blanca, particularly areas such as Altea, Calpe, and Moraira, offers excellent opportunities. Some reasons to consider investing in this region include:
The luxury housing market in Spain is booming, driven by international demand, the revaluation of new areas such as Alicante, and the adoption of trends such as sustainability and customization. For buyers and investors, 2025 presents a unique opportunity to acquire exclusive properties on the Costa Blanca, one of the country's most promising regions.
If you are interested in exploring opportunities in Altea, Calpe, Benidorm, or Moraira, at Premium Villas Costa Blanca, we will be happy to help you find the perfect luxury property that suits your needs.