Prices have increased significantly from September 2023 to September 2024, but how much?
Below, we have prepared very valuable information for you, whether you are interested in investing or have already done so, so that according to the data we have been able to collect on the Evolution of Housing Prices in Alicante 2023-2024: Demand, Supply and Registrations, in the analysed neighbourhoods of Campoamor, Carolinas (highs and lows) and Altozano.
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According to the most recent data, collected by Idealista, the prices per square meter in different neighborhoods of Alicante have experienced significant variations from 2023 to September 2024:
- Campoamor: In September 2024, the average price per square metre stands at €1.622/m2, with an annual increase of 21,20%This neighbourhood stands out for its strong revaluation due to its proximity to the centre of Alicante and its growing popularity among middle-high profile buyers.
- High Carolinas: The average price in this neighborhood is €1.483/m2, with an annual increase of 20,80%Carolinas Altas is characterized by its affordable housing offer compared to other areas of the city of Alicante, which has attracted new residents, especially young families.
- lower carolinas: With a price of €1.627/m2 in September 2024, it has had an increase of 15,20% compared to the previous year. This neighbourhood has experienced significant development in infrastructure and services, which has increased its attractiveness for buyers, together with its proximity to the centre of Alicante.
- Hillock: The price in Altozano has reached €1.466/m2, with an annual increase of 19,80%It is a growing neighborhood with high demand due to its proximity to commercial areas and medical centers.
The evolution of housing prices in Alicante In these neighborhoods, the growth has been driven by increased demand to buy from residents and foreigners alike, due to their excellent location, accessibility and affordable prices.
HOUSING SUPPLY AND DEMAND
Supply and demand in neighborhoods such as Carolinas and Campoamor have increased significantly in recent years.On platforms such as Idealista and Fotocasa, an increasing number of properties have been published, but demand continues to exceed supply, particularly in the case of second-hand properties at affordable prices.
- Carolinas: It is a neighbourhood with a considerable supply of medium and small-sized homes. However, demand exceeds supply, especially among local and foreign buyers looking for a cheaper home near the centre.
- Campoamor: This neighbourhood is characterised by the availability of larger and more modern homes. Demand in Campoamor has increased mainly among investors and families looking for quality homes with good connections to public transport.
INCREASE IN REGISTRATIONS
The number of registered residents in the city of Alicante has increased significantly in neighbourhoods such as Carolinas and Altozano, which has contributed to The evolution of housing prices in AlicanteAccording to data from Alicante City Council, the overall increase in registrations in the city has been 3,2% annually in 2023. This is mainly due to the increase in immigration and the return of people who previously resided abroad. The most popular neighborhoods for registration were Carolinas and Altozano, with increases of 5,1% and 4,7% respectively..
As for nationality of origin, the new registered residents come mostly from European countries such as the United Kingdom and Germany, as well as from Latin American countries such as Argentina and Colombia, which have represented 30% of the new registrations.
INCREASE IN TOURISM IN ALICANTE
Tourism in Alicante has experienced a considerable increase during 2023, with an increase of 12% compared to the previous year, this has undoubtedly propelled aThe evolution of housing prices in Alicante.
A total of 2,1 million tourists visited the city in 2023, with the main visitors coming from the United Kingdom, Germany and France. This figure reflects the importance of tourism in the growth of the real estate market, as many foreign tourists decide to purchase homes in the city after several visits, thus influencing real estate demand.
COMPARISON WITH OTHER CITIES SUCH AS MADRID, VALENCIA, BARCELONA AND MALAGA
Compared to other major cities in Spain, Alicante has a similar price evolution and demand, but with some particularities:
- Madrid: Prices per square metre in Madrid have increased by 7% in 2023, reaching €4.000/m2 in central areas such as Chamberí. Demand in the capital remains very high due to its economic and cultural relevance, with a strong market of foreign and local buyers.
- Valencia: In Valencia, the price per square metre has grown by 9,5%, reaching €2.200/m2 in popular neighbourhoods such as Ruzafa. Valencia has experienced a high demand for housing in recent years, especially from foreign buyers.
- Barcelona: With a price increase of 6,8% and an average price of €4.100/m2, Barcelona remains one of the most expensive cities in Spain to buy a home. However, the supply remains more limited compared to other cities.
- Malaga: Prices in Malaga have increased by 8,3%, reaching €3.000/m2. The city, like Alicante, has seen a boom in home purchases by foreigners, especially on the Costa del Sol.
In terms of registration, Madrid and Barcelona are also experiencing significant increases, with rises of 3,5% and 2,8% respectively in 2023. However, cities such as Malaga have seen more moderate growth, with an increase of 1,9%, due in part to the lack of new construction.
CONCLUSION
Alicante has proven to be a growing city both in terms of housing prices and real estate demand.The positive evolution of prices in neighbourhoods such as Carolinas, Campoamor and Altozano, together with the increase in tourism and registration, position the city as a key point for real estate investment in the coming years, with a dynamic that rivals large cities such as Madrid, Valencia and Malaga.
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