Alex Trelinski
HOLIDAY home rental costs during the summer on the Costa del Sol have more than doubled in a decade.
A week in one of Spain’s most popular tourist areas during the peak tourist season will come in at an average of €1,183- up 128% on the €519 charged in 2014.
The figures have been compiled by online rental portal pisos.com
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Though an eye-watering increase, the Balearic Islands come up top when a week’s average rent for the summer is €2,325- a rise of over 166% in the last decade.
Weekly payments are also higher on the Costa Brava(€1,480) and the Costa del Gerraf(€1,450).
The cheapest coastal holiday lets are in Andalucia but further north in Almeria with an average weekly charge of just €500- up 64% in a decade.
At a national level and average, renting a property on the coast during the summer costs costs nearly twice as much as a decade ago.
Prices have increased on average by 76% in 10 years, which means that the Costa del Sol rise is 52.11% above the national average.
The report also looks at average sale prices of properties in coastal areas.
Malaga is the area with the highest increase in the last decade at 124.32% which just beats the 124.16% of the Balearic Islands and the 103.11% of the Canary Islands.
The average sale price of a property on the Costa del Sol, which in 2014 stood at €164,164 is currently €369,296.
In the Balearic Islands, it has gone from €193,933 to €441,438, and in the Canary Islands, from €130,491 to €265,042.
The highest prices- in addition to the Balearic Islands- are on the Costa Brava (€405,397); the Garraf Coast (€535,596), and the Basque Coast (€424,984).
The cheapest area to buy a coastal property is in Almeria on an average €129,795, which is 21.78% more than 10 years ago.
The national average increase in the price of real estate in coastal areas is 65.46% but that is exceeded by 58.84% in the Malaga area.
