Alex Trelinski
LUXURY house prices soared by 9.6% in Alicante province during the last year- the largest rise in Spain.
Valuers and consultants Grupo Tecnitasa said luxury properties in the region had an average value of €4.36 million.
It said the above average price hikes are down to the area having lower values compared to other parts of the country, and has now been catching up.
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The Barcelona and Madrid areas also had big increases of 7.73% and 7.48%, respectively.
The Balearic Islands and Malaga province had relatively small rises of 3.62% and 3.17%.
The lowest increase was in Girona on the Costa Brava with 3.03%, while the national average percentage stood at 4.5%.
The Grupo Tecnitasa study said the highest price in Alicante province was in Javea with €6.6 million.
“The market is concentrated in very specific areas where the mountainous geography creates striking cliffs including places such as Altea, Teulada-Moraira, Benissa and Calpe,” the report stated.
The study shows that the highest prices are in the Balearic Islands, with the highest average m2 recorded in Ibiza, at €14,500 and the most expensive home located in Pollenca at €50.6 million.
Interest in luxury homes in Spain has continued to grow ‘significantly’ in recent years,
The Balearic Islands, Madrid, Barcelona and Malaga continue to be ‘clear benchmarks in the luxury real estate sector’ and other locations in Girona, the Canary Islands, Cadiz and, especially, Alicante are being incorporated ‘in a very relevant way’.
Grupo Tecnitasa CEO, Jose Antonio Muro, said: “The report reflects that luxury homes are no longer only defined by their location, quality of materials or size, but also by how they adapt to a new lifestyle in which they are increasingly valued.”
“These include factors such as personalisation, silent luxury or energy efficiency, which provide well-being and a more sustainable way of living with high ecological responsibility.”
