Spanish Property Market Sees Remarkable Growth in 2024: What This Means for Buyers in 2025
Spain’s real estate market had a strong year in 2024, with 716,183 home sales, marking an 11% increase from 2023 and 23% above the ten-year average. The fourth quarter alone saw a 17% rise, reflecting growing confidence in the market and heightened demand from both domestic and international buyers.
Regional Highlights: Costa del Sol, Balearic Islands, and Canary Islands
Costa del Sol (Andalusia): Andalusia saw 16% Q4 growth and 12% annual growth, with the Costa del Sol leading the way. Marbella, Estepona, and Málaga remain hotspots for luxury property buyers and investors seeking rental income, benefiting from strong international interest.
Balearic Islands: Despite its exclusivity, the Balearics recorded 7% Q4 growth but only 1% annual growth, reflecting high property prices. Demand remains strong in Ibiza, Mallorca, and Menorca, particularly for high-end homes and investment properties.
Canary Islands: With 10% growth in Q4 sales, the region continues to attract buyers looking for year-round sunshine and strong rental returns. Tenerife and Gran Canaria remain top investment choices.
Steady Price Growth
Property prices in Spain continued their upward trend in 2024. The average price per square meter reached €1,753, reflecting a 7% increase year-on-year. Over five years, prices have risen 22%, and over the past decade, they have climbed 38%, emphasising the market’s long-term stability and investment potential.
Outlook for 2025: A Market Poised for Further Growth
Spain’s real estate sector is expected to maintain its strong performance in 2025, particularly in sought-after coastal and island locations. While factors such as interest rates, economic shifts and government changes may influence the market, demand for properties in the Costa del Sol, Balearic Islands, and Canary Islands remains high.
For those looking to invest in Spanish property, 2025 presents prime opportunities in some of Europe’s most desirable locations. Whether for personal use or rental income, these regions continue to offer solid returns and long-term value, making them an attractive option for buyers seeking stability and growth.
Find Your Ideal Spanish Property with Worldwide Property Co.
Navigating the Spanish property market can be complex, but we make it seamless. At Worldwide Property Co., we help international buyers find their perfect holiday home or investment property in Spain, providing expert guidance and tailored mortgage solutions.
Contact us today to explore exclusive opportunities in the Costa del Sol, Balearic Islands, and Canary Islands.
