Statistics
The luxury property market in the province of Alicante is growing thanks to the demand for holiday homes.
The province of Alicante has firmly established itself in the Spanish luxury property market in recent years. Thanks to a growing demand for second homes, the province has become an attractive region for investing in exclusive properties on the Costa Blanca.
According to a new report from real estate agent Lucas Fox, the number of luxury homes in Spain rose by 7% in the first half of 2024, while the overall property market saw a 12% decline. Alicante contributes 2% to the local property market and 6% to the national “prime” segment, with 948 luxury homes.
Sales figures in the city of Alicante (3,542 homes) increased by 9% in the first half of 2024 compared to the same period in 2023. However, in the Marina Baixa (2,825), there were 8% fewer sales, while the Marina Alta (2,450) saw an increase of 6%. Xàbia in particular stands out with the highest average prices of 3,184 euros per square meter, a growth of 9% year-on-year. Calpe and Dénia also saw similar increases, with prices around 2,916 euros per square meter.
The city of Alicante recorded an average price of 2,027 euros per square meter, a growth of 17% in one year. The typical buyer in this segment pays an average of 1,120,455 euros in Alicante, with an average discount of 5%. On the Costa Blanca, the average transaction price is around €629,944, with similar discounts.
The main reason for buying in the province is as a second home (47%), followed by a primary residence (34%), investments (13%) and to obtain a Golden Visa (5%). The vast majority of luxury properties in Alicante are villas (63%), while apartments make up 34%.
International buyers dominate the market, with 63% coming from other EU countries, while 29% come from elsewhere in Europe. Smaller percentages come from Asia, the Americas and the Caribbean. Alicante ranks fourth nationally for luxury properties over €1 million, with a market share of 11.2%.
The growth in the luxury segment emphasises the appeal of Alicante, which, along with other popular regions such as Malaga, Madrid and the Balearic Islands, serves the largest share of this market in Spain.