Periodic reports on the Costa de Almería property market
This page offers data-driven reports on the Costa de Almería property market, consolidating key data from public sources to highlight the latest trends and developments. Illustrated with charts and infographics, these reports provide critical insights into the residential real estate markets of coastal municipalities such as Vera, Mojácar, and Roquetas de Mar. The reports are designed for foreign investors, property buyers, vendors, professionals, and journalists seeking reliable insights to support key financial decisions in this increasingly attractive coastal region of Andalusia.
Costa de Almería property market overview
Stretching along the southeast coast of Spain in Almería province, the Costa de Almería is gaining traction among international buyers in search of second homes, holiday properties, and investment opportunities. Known for its arid climate, expansive beaches, and more affordable prices than neighbouring coasts, the region offers an appealing combination of lifestyle and value. Regular reporting on this area delivers valuable insight for anyone engaging with this distinctive segment of the Spanish property market.
Centred on towns such as Vera, Mojácar, and Roquetas de Mar, the Costa de Almería offers a mix of established resort areas and quieter coastal communities. With growing international demand—particularly among Northern European buyers—the region is evolving while retaining much of its traditional character. These reports track emerging trends, supporting informed decision-making in a dynamic and relatively under-the-radar housing market.
The reports cover a wide range of topics to provide a comprehensive understanding of the market, including:
- Home sales in key municipalities including Vera, Mojácar, and Roquetas de Mar.
- Foreign buyers: market share, nationalities, and buyer trends.
- New-build properties: activity, price trends, and development patterns.
- House prices: by area, property type, and price evolution.
- Mortgage lending: rates, volumes, and affordability implications.
- Construction activity and its impact on local housing supply.
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2025 H1
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2024 Full Year
The Costa de Almería property market in 2024 demonstrated steady growth, underpinned by resilient demand, a strong sales base, and ongoing development activity. Overall home sales increased from the previous year, with domestic buyers playing a more prominent role as the share of international purchasers declined slightly. Property prices continued their long-term upward trend, although the new-build segment saw a temporary dip in average values. Mortgage activity remained robust despite higher borrowing costs, and construction starts, while lower year-on-year, continued to reflect a solid long-term recovery. This report offers a detailed analysis of the Costa de Almería housing market in 2024, highlighting key indicators such as sales performance, pricing dynamics, lending trends, and housing supply.
Sales performance
In 2024, the housing market in Costa de Almería recorded a total of 15,126 home sales (Fig. 1-1), representing a modest year-on-year increase of 6%. Compared to the ten-year average, this volume was 27% higher, and nearly double that recorded a decade ago.
Among these transactions, 3,704 involved foreign buyers, reflecting a 4% decline compared to the previous year. However, this figure remains 22% above the ten-year average and nearly 95% higher than ten years ago, underlining the long-term significance of international buyers (Fig. 1-2).
Breaking down international purchases:
- 2,370 homes were bought by foreigners living in Spain (expats), down by 1% year-on-year, but up 224% compared to a decade ago.
- 1,334 sales involved foreign non-residents (FNRs), such as second-home buyers and investors. This segment fell by 10% annually, though it still shows a long-run gain of 14%.
The share of foreign buyers in the Costa de Almería market fell to 25% in 2024 from 28% in the previous year (Fig. 1-3), indicating a relative slowdown in international interest, potentially due to higher financing costs and global uncertainties.
Sales of new builds totalled 1,271, a year-on-year rise of 8% (Fig. 1-4), suggesting growing demand despite a challenging year for supply chains and approvals. This figure is still only 3% higher over the past decade, indicating that new construction has not kept pace with broader sales growth.
Focusing specifically on key Costa de Almería municipalities, 11,418 homes were sold (Fig. 1-5), showing an annual increase of 7% and a decade-long rise of 97%, highlighting the region’s growing popularity.
House price trends
The average property price in Almería during 2024 stood at €113,304 (Fig. 2-1), reflecting a 6% year-on-year increase. In contrast, new-build homes averaged €140,063, representing a 14% decline compared to the previous year, pointing to possible market corrections, builder incentives, or product mix shifts.
Over the past decade, price indices show that all property types have grown, but at differing rates. The all-property index rose from 100 to 116.9 (Fig. 2-2), indicating a 17% rise over the ten-year period. However, new properties saw prices increase from 100 to 128.1 — a 28% growth — suggesting stronger appreciation in the new-build segment over the long haul. This trend may be linked to better energy efficiency, updated designs, and higher demand for turnkey homes, even as short-term prices softened.
Over the last five years, average prices for all property increased by 17%, while new-builds declined by 7%, again reinforcing the narrative of recent softness in the latter.
Mojácar Playa case study
In Mojácar Playa, a popular coastal destination within the area, average asking prices reached €2,319.75 per square metre, up 10% over the previous year (Fig. 2-3). Over five years, asking prices here climbed 20%, reflecting strong buyer interest and limited supply.
A ten-year index of asking prices rose from 100 to 132.8, meaning that advertised prices in the region have increased by nearly 33% over the decade. This underscores a significant shift in the perceived market value of property in the area and reflects increasing demand, especially in desirable seaside locations.
Mortgage market
In 2024, there were 6,279 new mortgages signed in the province of Almería (Fig. 3-1), 11% fewer than the previous year. Despite the short-term decline, this total is 4% above the ten-year average and 64% higher than a decade ago, showing a long-term rise in mortgage activity.
The average Euribor rate, which serves as the benchmark for most Spanish mortgages, was 3.27% during the period (Fig. 3-2), down from 3.87% in 2023. This decrease of 15% year-on-year suggests easing financing conditions. However, it still remains markedly above ultra-low levels observed in the early 2020s, such as the -0.49% level recorded in 2021.
Euribor trends have been heavily influenced by European Central Bank (ECB) policies. The ECB’s 2022–2023 cycle of interest rate hikes, aimed at curbing inflation, peaked by late 2023. Since then, inflationary pressures have eased, and the ECB has signalled a more dovish stance. Market participants now expect rate cuts through 2024–2025, which could support demand and boost affordability in the housing market.
Housing starts
There were 1,279 new housing starts in the Costa de Almería region during 2024 (Fig. 4-1), based on planning approvals. This figure is 27% lower than the previous year, reflecting a substantial slowdown in new development — possibly linked to higher construction costs, cautious builder sentiment, and supply chain challenges.
Despite the recent downturn, housing starts remain 5% above their ten-year average and nearly 180% higher than a decade ago, confirming a strong long-run trend in new residential development.
Summary
- Overall property sales in the Costa de Almería area rose 6% in 2024 and are nearly double those of a decade ago.
- Foreign buyer transactions declined 4% year-on-year, especially among non-resident buyers, yet remain significantly above long-term levels.
- Prices for all properties are up 6%, but new-build prices show a 14% decline, highlighting market divergence.
- Mortgage activity dropped 11% annually, although decade-long growth remains strong. A falling Euribor suggests improved future affordability.
- New housing starts fell 27%, potentially signalling constraints in future new-build supply.
Conclusion
The Costa de Almería housing market in 2024 displayed overall resilience despite shifting dynamics among segments. General sales continue to rise, pricing shows long-term appreciation, and demand from international buyers, while easing, remains a vital component of the market.
The fall in new-build prices and housing starts highlights a cautious construction sector, influenced by cost pressures and economic uncertainty. However, falling interest rates and renewed buyer interest — particularly if the ECB begins cutting rates — could spark renewed activity in both sales and new home development in 2025.
Investors and buyers should monitor mortgage costs, project launches, and international demand closely, as these will continue to shape the short-to-medium-term trajectory of this growing coastal housing market.
Disclaimer
These reports are prepared in good faith using publicly available data. While efforts are made to ensure accuracy, no guarantees are provided regarding the completeness, reliability, or suitability of the information for any purpose. Use of this information is at your own risk.
