Property prices in Marbella have rocketed in the last 12 months with a 20% increase in the last year. It is continuing to be a prime hotspot in Spain according to the latest report by IDEALISTA.
Marbella is a unique place and it tops the list of places where prices of property have been spiralling in the last year. The Costa del Sol town has registered the highest increase of all the large Spanish municipalities in the last year.
Price increases seen –
- 19.9% increase
- average cost of 4,121 euros per square metre
- an all-time high
according to data compiled by the Idealista property portal.
Marbella property prices may have spiralled but what about the rest of the country by comparison?
16 provincial capitals have been included in the Idealista report that have registered year-on-year increases in house prices higher than inflation. In double digit growth these areas showed the biggest increase :
- Santa Cruz de Tenerife (18.7%)
- Alicante (13.2%)
- Valencia (11.4%)
- Guadalajara (11.3%)
- Cuenca (10.8%)
Amongst the provincial capitals Malaga prices increased 8% also reaching an all-time high of 2,365 euros per square metre.
With a national increase of 5.4%, according to Spain’s INE, the national institute of statistics body, these are well above the average year-on-year increase.
LARGE METROPOLITAN AREAS
What other price increases were recorded in property?
Madrid saw a price increase of 4.9% in the metropolitan area and increases above inflation in nine different locations. Alcorcón (10.8%) and Rivas-Vaciamadrid (10.6%), Leganés (9.5%), Las Rozas de Madrid (8.3%), Coslada (7.5%) %), Alcobendas (7.4%), Alcalá de Henares (7.2%), Torrejón de Ardoz (6.9%) and Móstoles (6.8%)
In Barcelona, the increases in the metropolitan area were not as steep as that of Madrid. Sant Cugat del Vallès (6.6%) and Mataró (6.5%) districts, however, stand out still above inflation.
Three other areas had notable increases. Alicante (13.2%) and the most prominent towns in its surroundings, such as Elche (8.1%), Torrevieja (16.1%) and Orihuela (18.5%).
Cádiz also stands out (4.7%) and key performers were Jerez de la Frontera (14.4%) and Puerto de Santa María (14%), growing at twice the rate of inflation.
STAYING IN MARBELLA WHILST PROPERTY HUNTING
Check out the different areas of Marbella with one of our brilliant holiday rental apartments or villas we have across all areas of Marbella.
