Alicante property boom: resale prices soar by 18% in July 2024

Resale prices in Alicante rose significantly year-on-year by 18% in July, one of the biggest increases in Spain

According to the latest property price index from Spain’s most popular property portal Idealista, this growth has taken the average price to €1,914 per square metre, reflecting strong demand and a dynamic property market in the region.

Across Spain, resale prices reached a record high of €2,153 per square metre, up 7.9% year-on-year.

This upward trend has been consistent across all of Spain’s autonomous communities, with notable regional differences.

The Valencian Community saw an increase of 11.5%, highlighting the growing appeal of the region.

This increase places the Valencian Community among the regions with the highest price increases, along with the Canary Islands (16.4%), the Balearic Islands (11.9%) and the Community of Madrid (11.5%).

Among the provinces, Alicante stands out with an increase of 11.3%, making it one of the provinces with the highest increase in house prices, just behind Santa Cruz de Tenerife (18.6%) and Las Palmas (13.5%).

In terms of affordability, the Alicante housing market remains competitive.

Despite the increase in prices, they are still more affordable compared to the most expensive regions such as the Balearic Islands (4,445 euros/m²) and Madrid (3,504 euros/m²).

The capital Alicante also reflected this growth trend with an increase of 18% year-on-year, making it one of the cities with the highest price increases in Spain.

In this indicator, the city is second only to Malaga (18.2%) and ahead of other large cities such as Valencia (16.1%) and Madrid (15.5%).