Costa Blanca South
Summer soars: Beachfront rentals in Spain reach unprecedented heights
By Anna Ellis •
Published: 09 Jul 2024 • 11:21
The summer of 2024 is poised to witness unprecedented rental prices for beachfront apartments, driven by a surge in foreign tourism across Spain.
This surge, expected to break records for the second consecutive year, is significantly impacting rental rates in popular coastal areas, particularly during the peak months of July and August.
Traditional Clientele
The increase is so substantial that it is displacing traditional national clientele who are unable to meet the inflated prices.
Along Torrevieja s Beach, weekly rates have surged by 25 per cent to an average of €975.
In Santa Pola, prices have risen by over 11 per cent to an average of €1,190, while Torre de la Horadada now quotes approximately €1,220 per week for frontline properties, a 7.5 per cent increase.
Alicante City
Along Alicante city s main beach, the average weekly cost for an apartment this summer is €1,530, reflecting nearly a 7 per cent increase.
Gonzalo García of Inmolux Alicante highlights that in this area, historically a summer retreat now becoming a residential neighbourhood, long-term leases command between €1,500 and €1,800 per month for 100-square-metre apartments.
Constrained Supply
As demand surges and supply remains constrained, the rental market along the Alicante coast is evolving dynamically.
It is responding to global tourism trends while also adjusting to shifts in local residential dynamics, emphasising the competitive and transformative nature of the region s summer rental market.
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Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.
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