Sun-soaked Spanish shores are seeing a surge in property values, with coastal dwellings jumping 5.7% to a hefty €1,740 per square meter in early 2024. According to the latest Tinsa report, this beach-bound boom is leaving the national average of 3.3% in its wake.

Malaga’s making waves with a 9.3% spike, while the Balearic beauties aren’t far behind at 8.8%. Alicante’s also riding high with a 7.2% climb. But it’s Ibiza stealing the show – Sant Josep de sa Talaia’s asking a cool €4,191 per square meter, with Santa Eulalia des Riu and Ibiza town hot on its heels.

Andrea de la Hoz, Tinsa’s eagle-eyed consultant, raises red flags about Ibiza’s market. “It’s not just hot; it’s sizzling,” she warns, noting a shift towards swanky digs pushing prices through the roof.
Holiday homes are feeling the heat, too, with a 3.9% jump to €2,650 per square meter. But here’s the kicker – despite the coastal craze, primary pads still command top dollar at €2,650 per square meter.

It’s not all sunshine and sandcastles, though. The number of seaside sales took a nosedive in 2023 (see chart below), dropping 11.2% from the previous year’s high-water mark. New builds felt the pinch, plummeting a whopping 22.9%.

Meanwhile, holiday rentals are on a roll, shooting up 8.9% in the first quarter 2024. That’s an actual increase of 5.8% when you factor in inflation. This trend is building steam—from a modest 3.1% rise in early 2022 to 5.1% the following year, and now it’s threatening to hit double digits.
Tinsa’s crystal ball suggests nearly three-quarters of the coastline is seeing rental hikes between 5% and a jaw-dropping 30%. It’s clear as day – Spain’s seaside property market is hotter than a midsummer siesta.