October 30, 2017 STRATA

The Costa del Sol Concentrates 40% of New Housing Stock on the Mediterranean Coast

In the five main coasts of the Mediterranean coast, there are approximately 5,600 new housing units, which are not distributed homogeneously through the analyzed Spanish coast, according to a study carried out by the Valuation Society.

The study shows that the coasts located in southern Spain offer more new housing units than their northern counterparts. Costa del Sol is proof, as this location boasts the newest homes and pending sales.

The coast of Malaga has around 2,500 new housing units, compared to 280 homes on the Costa Brava and 378 homes on the Costa Dorada. The Costa Blanca in Alicante offers the second largest number of homes with 2,110 new housing units. On the other hand, in the Costa Cálida (Murcia), only 345 homes are currently being offered.

The study shows how the housing supply is unevenly distributed between the coasts. The outstanding sales offers do not exceed 70% of the volume being promoted. On the other hand, on the Costa de Tarragona, there are three municipalities whose outstanding pending sales offers exceed 70% of the volume being promoted: Altafulla, Cambrils, and Cunit. On the coasts of Girona and Alicante, only two municipalities, Blanes and Finestrat respectively, have a similar supply volume to those localities.

There are four coasts that have an average price between 150,000 and 200,000 euros. Thus, the municipalities of Murcia that make up the Costa Calida offer a lower price at an average of 151,000 euros. This is followed by the Costa Dorada of Tarragona, which has an average value of 154,400 euros. These new homes are practically equal in price to those on the Costa Blanca (196,000 euros) and those on the Costa Brava (199,400 euros).

At the top of the price range is the Costa del Sol, which boasts an average housing price of 353,000 euros.

The average surface area of the houses with pending sales is on the smaller side at 112 square meters. Only the houses found on the Costa del Sol (145 meters) exceed this average. Out of the total number being offered, only 4% are less than 70 meters, compared to 16% on the Costa Cálida and the Costa Dorada, 12% on the Costa Blanca, and 23% on the Costa Brava. Precisely, the municipalities of the Costa Brava are those that, on average, offer a smaller area (100 meters). They are closely followed by those of the Costa Blanca at 102 square meters and those of the Costa Dorada at 103.

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