Rise in new build property prices
According to the Sociedad de Tasacion real estate appraisal company, new build homes in Spain experienced an average annual rise of 7.1% in 2022, reaching €2,732/m2 in December. To put this into perspective, it is the largest increase since 2007.
The most significant growth was experienced in the Balearic Islands with a rise of 9.1%. This was followed by Madrid with a rise of 8.5%, Navarra with a rise of 7.2% and Andalucia with a rise of 7.1%. It is also notable that Malaga was the provincial capital with the greatest rise in new build housing prices (9.3%). In fact, all Spanish regions experienced increases between 3.9% and 9.1%, with the exception of Ceuta and Melilla.
During the second half of the year, the price continued to rise, with a positive half-year variation of 3.4%. Although the price of new housing continues to rise, data recorded at the end of 2022 is still lower than in 2007, when new housing reached an average price of almost €3,000/m2.
The price rises are a result of factors such as lack of new housing stock and a high demand for this type of property, which exceeds supply.
Asset Folio promotes various exclusive new developments on the Costa del Sol. The first is Ayana Estepona. This development of luxury apartments and penthouses brings a unique concept in resort development to the Costa del Sol. Thoughtfully designed to seamlessly blend into the environment, Ayana aims to accentuate the quintessential lifestyle and casual vibe of Estepona.
Alya Mijas is a new development of contemporary semi-detached houses in Riviera del Sol, Mijas, with views over the mediterranean. The 3 and 4 bedroom homes are distributed over 2 floors, together with a garden and the option to add a private pool.
Contact us for more information on either of these new developments.