Summary of the report 'Housing in Costa 2023' in Spain.

Summary of the report 'Housing in Costa 2023' in Spain.

Exciting news from I-VEO Synergy! 🏡

We are pleased to share with you a summary of Tinsa's 'Housing in Costa 2023' report, which provides interesting data on the holiday home real estate market in Spain.

According to the report, in the first quarter of this year, the average price of holiday homes has experienced an increase of 6.3% compared to the previous year, reaching 2,550 euros per square meter. This puts the value of these properties 35% above the average for primary homes in coastal areas.

In general terms, considering both first and second residence, there has been a year-on-year variation of 4.1% in the first quarter of 2023 in the 250 coastal municipalities analyzed, reaching 1,591 euros per square meter. This increase exceeds the increase observed during the same period of the previous year, which was 3.5%.

As for the most common prices in the holiday home segment, they range between 1,800 and 3,600 euros per square meter. However, there are 'premium' locations in the single-family segment, where they exceed 6,000 euros per square meter and even exclusive properties of isolated homes on the coast of the island of Mallorca, whose unit value can reach 11,000 euros per square meter.

The islands of Mallorca, Ibiza, Formentera, Gran Canaria and Santa Cruz de Tenerife stand out for having the highest estimated prices of holiday homes, in line with the mostly international demand and high purchasing power. According to Tinsa experts, the average value of second homes in the Balearic Islands would reach 6,000 euros per square meter. It is followed by the province of Malaga (3,400 euros / m2), Guipúzcoa (3,300 euros / m2), Santa Cruz de Tenerife (2,900 euros / m2), Girona and Vizcaya, both around 2,800 euros / m2.

The report highlights that 91% of the 250 coastal municipalities analyzed have experienced an increase in the average price of housing in the last year. The largest increases, more than 10%, have been registered in the Balearic Islands, Valencian Community and Andalusia.

At I-VEO Synergy, we value continuous training and in-depth knowledge of the market as fundamental pillars to offer a real estate service of excellence. We are committed to providing expert advice and helping our clients find the perfect property on the beautiful coasts of Spain.

Join us on this real estate journey and discover the opportunities that the holiday home market has to offer! We are here to make your dreams of owning a property on the coast come true.

 #IVEOSynergy #ViviendaVacacional #MercadoInmobiliario #Tendencias #CostaEspañola

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