Buying a new-build home on Spain’s coast is becoming harder than ever, with prices in some areas climbing at record speed.
According to appraisal firm Tinsa, the average price of new-build property nationwide rose 7.6% in 2024 to reach €2,528 per square metre.
But in some of Spain’s most desirable coastal towns and cities, prices have surged by more than 20% in just one year.
Vigo tops the list
Leading the ranking is Vigo, in Galicia, where new-build prices jumped 25% year-on-year to €2,676/m².
Not far behind is Castelldefels, just outside Barcelona, with a 24.5% rise in 2024, pushing values up to €4,427/m².
That makes it the most expensive location in the ranking, even outpacing Málaga. For comparison, new-builds in Barcelona city average close to €5,000/m², but growth there was minimal at just 0.9%.
In third place is Málaga, where strong demand pushed prices up 24.4% to an average of €3,428/m².
Benidorm, Santander and beyond
Other fast-growing hotspots include Benidorm (Alicante) and Santander, which both recorded gains of just over 20%. Prices now average €3,599/m² and €2,471/m² respectively.
Further down the list, Vélez-Málaga and Cartagena (Murcia) both saw increases of 18.8%, although at different price points: €2,320/m² in Vélez-Málaga versus €1,879/m² in Cartagena.
The top 10 coastal risers in 2024
- Vigo: €2,676/m² (+25%)
- Castelldefels (Barcelona): €4,427/m² (+24.5%)
- Málaga: €3,428/m² (+24.4%)
- Benidorm (Alicante): €3,599/m² (+20.5%)
- Santander: €2,471/m² (+20.2%)
- Vélez-Málaga: €2,320/m² (+18.8%)
- Cartagena (Murcia): €1,879/m² (+18.8%)
- Palma de Mallorca: €3,562/m² (+15.1%)
- Valencia: €1,755/m² (+13.7%)
- San Fernando (Cádiz): €1,735/m² (+11.3%)
Other markets also recorded double-digit growth. Alicante, Marbella (Malaga), Motril (Granada) and Almeria all saw increases of between 10.3% and 10.9%, with Marbella standing out for its high average price of €4,130/m².
A seller’s market
The figures highlight just how fiercely competitive Spain’s coastal property market has become.
Demand from both domestic and international buyers is fuelling record growth in hotspots from Galicia to Andalucia, while limited supply of new-builds is keeping prices climbing.
For would-be buyers, the message is clear: securing a new home by the sea in Spain is now one of Europe’s most expensive dreams.
Read more Spanish property news at the Spanish Eye.
