Even with a slowdown in the latter part of the year, second hand homes closed 2023 on a high note in Alicante. The province showed a stronger rebound than the national average, driven by steady foreign demand along the coast and a tightening supply that aligns with what most buyers are seeking.
Consequently, despite the rate increases, the average price per square meter rose to 2,024 euros for the year, marking a 13.2 percent year over year gain nationwide, according to Fotocasa data published on Wednesday. The rise in Alicante outpaces the country by a wide margin, and the region ranks as the eighth-fastest growing in Spain. Santa Cruz de Tenerife leads with a 27.7 percent increase, followed by Malaga at 18.8 percent, the Balearic Islands at 16.9 percent, while several provinces such as Badajoz, Jaén, Zamora and Ciudad Real posted declines.
Even with a sizable increase, year-end figures show moderation from last summer’s pace in Alicante. The annual rise in housing approached 19 percent according to Fotocasa data, yet it did not dip into single digits. With the latest figures, the cost per square meter in the province sits roughly 8.1 percent below the all-time high reached in the middle of the surge. The trend suggests a cooling but still strong demand against constrained supply.
Development in occupied housing by province is illustrated in the accompanying visuals. The accompanying captions note housing activity and the evolving market across different areas.
Fotocasa Research Director Maria Matos commented that despite higher borrowing costs, demand remains robust. She noted a persistent interest in bricks as a safe store of value for savings and an ongoing appetite for purchases among buyers. She also cautioned buyers to seek favorable deals should prices ease. A persistent lack of adequate supply continues to support elevated price levels.
Municipalities
Taking population growth into account, the strongest price gains in the province occurred in San Miguel de Salinas, where sellers are asking as much as 52.7 percent more than a year ago. Mutxamel follows with 32.7 percent higher asking prices, then La Vila Joiosa at 27.5 percent, Alfas del Pi at 24.5 percent, and Sant Joan dAlacant at 23.8 percent.
Among major towns, the average price per square meter for used flats in Alicante sits at 2,224 euros, reflecting a 13.2 percent year over year rise. Elche shows a 10.8 percent increase to 1,459 euros, while Torrevieja advances 22.3 percent to 2,247 euros. Orihuela rises 18.7 percent to 2,546 euros.
Within the metropolitan belt, Alcoy posts an 8.8 percent gain to 1,015 euros per meter, while Alcoy also records a 7.5 percent increase in another note. In Villena, apartment prices average 872 euros per meter.
On the other side of the spectrum, several municipalities saw prices soften. Pedreguer fell 5.5 percent to 1,583 euros per meter, while Denia declined 0.1 percent to 871 euros per meter and Pedreguer experienced a dip in value as well.
The most expensive
The province’s priciest town remains Calpe where the metro price is around 3,638 euros per square meter. Following close are Altea del Pi at 3,637 euros, Altea at 3,059 euros, Benidorm at 3,022 euros, Javea at 2,767 euros, and Denia at 2,761 euros per meter.
The article’s visual spread highlights the most expensive municipalities in the Valencian Community.
At the other end of the spectrum, the most affordable towns include Rafal at 671 euros per meter, followed by Bigastro at 722 euros and Callosa de Segura at 733 euros.