Here are my insights on the recent market snapshot figures for April 2023.
In Spain, it can be quite challenging to obtain precise data regarding property prices and sales figures.
However, by consistently utilizing the same dataset, we can observe the fluctuations in property prices.
When comparing year-on-year data, we see an increase in property sale prices ranging from 13% to 28%, depending on the specific area under consideration.
Looking specifically at Los Cristianos, there was a marginal 1% increase between the figures for March and April, however, when considering the entire municipality of Arona, the increase was over 4%.
Similarly, the municipality of Adeje experienced a growth in sales price per metre squared slightly above 4%.
Regarding the region of Costa Adeje, there was a 2.4% difference in property prices between March 2023 and April 2023.
Furthermore, the number of properties available for sale remains remarkably low.
In Los Cristianos for example, there are only 369 properties on the market, and in Las Americas, there are 142. It is important to note that a portion of Las Americas is encompassed within Los Cristianos itself too.
Throughout Costa Adeje, there are just over a thousand properties available for sale and it’s worth mentioning that the asking price per square meter has increased, with an average of nearly €5,000 per square meter in the area. This indicates a continuing upward trend.
However, the one aspect that seems to be stabilizing is the inventory of available properties. There is a noticeably a smaller selection to choose from. It remains to be seen how this scarcity might impact prices in the upcoming month.
In summary, based on the market snapshot figures for April 2023, the property market in Spain continues to demonstrate positive growth. The prices have shown a notable increase compared to the previous year, and the limited availability of properties might contribute to further price adjustments in the future. We will eagerly await the data for the next month to gain a more comprehensive understanding of the evolving market dynamics.