2024 real estate trends on Costa Blanca and Costa Cálida
The Spanish real estate market has shown positive growth in the first three quarters of 2024 compared to the same period in 2023. With Spain recording a national increase of +9.55%, the Comunidad Valenciana followed with +7.29%, while the Murcia region outperformed with an impressive +10.75%.
New developments drive growth
Towns like Los Montesinos (+20.59%), San Miguel de Salinas (+20,37%), and Los Alcázares (+20.54%) experienced remarkable growth. This surge can largely be linked to the influx of new residential projects attracting buyers and investors seeking modern homes and attractive developments.
However, such rapid growth requires careful planning. Local town halls play a key role in ensuring sustainable development that benefits both new and existing residents. As these areas grow, we expect to see increased demand for commercial businesses like restaurants, shops, and essential services to support rising populations.
Strong resale market in Orihuela Costa
The coastal area of Orihuela remains extremely popular. The strong resale market highlights its continued appeal for both domestic and international buyers, driven by its established infrastructure, amenities, and reputation as a prime location on the Costa Blanca South.
Mixed results in other areas
While Guardamar del Segura (+6.97%), Rojales (+6.08%), and Pilar de la Horadada (+14.59%) continue to grow steadily, towns like Benijófar (-10.26%) and Algorfa (-7.69%) recorded notable declines.
Could this drop be linked to restrictions on rental licenses? Such regulations may have deterred investors relying on short-term rentals as a key revenue stream. It highlights the importance of understanding local policies and market conditions when choosing where to invest.
Murcia region on the rise
The Murcia region emerged as a standout performer, recording a +10.75% increase. Leading the way are San Pedro del Pinatar (+23.84%) and Los Alcázares (+20.54%), along with San Javier (+8.48%). These areas are increasingly popular for both new builds and resale properties, thanks to their affordability, coastal charm and well-developed amenities.
While the majority of transactions are still driven by resale properties, the impact of new build projects cannot be underestimated. When approached thoughtfully, these projects can drive growth, boost the local economy, and enhance the quality of life for residents.
