Mercados inmobiliarios clave y previsiones para el cierre de 2024

As we approach the end of 2024, the real estate market in Spain continues to offer great opportunities, especially in strategic destinations such as Costa Brava, Barcelona, Mallorca, Costa Dorada, Costa del Sol, Madrid, and Galicia. These areas have always been key for Coldwell Banker Spain, attracting both national and international buyers. Here’s what is happening in each of them and what we expect for the near future.

Costa Brava
Costa Brava remains one of the favorite destinations for those looking for a vacation home or investment in the Mediterranean. Charming coastal towns like Cadaqués and Begur have seen sustained demand, especially from international buyers seeking tranquility and unique landscapes. With a stable market and slightly rising prices, we expect 2024 to close with moderate growth, driven by the scarcity of properties in the most exclusive areas.

Barcelona
Barcelona, vibrant and cosmopolitan, continues to be a magnet for investors and international buyers. Housing prices in the city have grown by about 5% this year, with neighborhoods like Sarriá-Sant Gervasi and Eixample leading the demand. The blend of culture, beach, and vibrant urban life makes Barcelona an attractive place to live and invest. By the end of 2024, we expect the city to see stable growth, with prices potentially rising up to 5%, driven by the real estate market’s recovery and economic stabilization.

Mallorca
The luxury market in Mallorca remains stronger than ever. The island, known for its paradisiacal beaches and exclusivity, has seen growth of over 8% in some of its most coveted areas, such as Palma and Puerto Andratx. Demand from international buyers, particularly Germans and Britons, remains very high. This momentum suggests that 2024 will close with rising prices, supported by high demand and limited supply in prestigious areas.

Costa Dorada
With its long golden beaches and relaxed lifestyle, Costa Dorada has maintained a stable market this year. Destinations like Salou and Cambrils have been very popular with national buyers looking for a second home near the sea. While price growth has been moderate, tourist demand is expected to drive a slight increase toward the end of 2024, keeping the area on investors' radar.

Costa del Sol

Costa del Sol is undoubtedly one of the stars of the Spanish real estate market. With growth close to 11% in cities like Málaga, the region remains extremely attractive to international buyers, especially from the UK, Germany, and Scandinavian countries. Marbella and Estepona, with their exclusive and luxurious lifestyle, are the most sought-after destinations. Forecasts suggest that this growth will continue through the end of the year, with an increase of between 5% and 7%, driven by continued interest in high-end properties.

Madrid
Madrid, the vibrant capital of Spain, continues to attract national and international investors, especially in neighborhoods like Salamanca and Chamberí, where prices have grown around 4.5% this year. Madrid combines history, modernity, and an unparalleled cultural offering, making it a key destination for those seeking a safe investment. By the end of 2024, we expect prices to continue rising, although more moderately, around 2.5%, due to strong demand and the city’s ongoing appeal.

Galicia
In Galicia, the real estate market has grown at a slower but steady pace, particularly in cities like A Coruña and Vigo. With stunning landscapes and a more relaxed lifestyle, the region is gaining popularity among those looking to escape the hustle and bustle of big cities. The trend of remote work has boosted demand for rural homes, and we expect this trend to continue through the end of 2024, with price increases between 3% and 5%.

Costa Blanca
Costa Blanca, known for its warm climate and beautiful beaches, remains a highly attractive destination for both national and international buyers. In locations like Alicante and Benidorm, prices have experienced sustained growth, driven by high demand for vacation properties. This momentum is expected to continue through the end of 2024, with growth between 6% and 9%, supported by increased tourism and a shortage of supply in strategic areas.

Cerdanya
Cerdanya, located in the Catalan Pyrenees, is becoming a refuge for those seeking a more tranquil lifestyle, in close contact with nature. With its scenic beauty and proximity to Barcelona, demand for rural and mountain homes has increased significantly. By the end of 2024, the market in Cerdanya is expected to continue booming, with growth between 4% and 6%, driven by the rise of remote work and interest in luxury properties in natural settings.

Conclusion: What to expect by the end of 2024
For Coldwell Banker España, the key markets in which we operate will continue to show signs of growth and stability. As we move toward the end of the year, Spain’s appeal as a destination for property purchases remains solid, especially in coastal areas and major cities. With a constantly evolving market, 2024 appears to be a year of opportunities for those looking to invest in high-value properties in prime locations.

In summary, with sustained demand, limited supply in some areas, and continued interest from international buyers, we expect the Spanish real estate market to close the year on a positive note.