Closing 2024 with Gratitude: Spanish Real Estate Trends and Our Thanks to You

As 2024 comes to a close, we at Hansson & Hertzell would like to take a moment to reflect on the year that was—highlighting the Spanish real estate trends that shaped the market, looking at the growth in the areas we serve, and most importantly, extending our heartfelt gratitude to you, our clients and partners. 

Your trust and support have been the cornerstone of our success this year, and we look forward to continuing this journey with you in 2025.

Spanish Real Estate 2024: A Year in Review

The Spanish property market demonstrated resilience and dynamism in 2024, driven by global demand, strategic investments, and a continued focus on lifestyle appeal. However, there were also new changes in the market and its legislation. Here are some key highlights from last year's Spanish property market. Find out why Spain remained among buyers' most sought-after locations worldwide!

Costa Blanca: Sun, Sea, and Property Demand

The Costa Blanca, both North and South, continues to attract buyers with its affordability, stunning landscapes, and strong rental potential.

• Torrevieja and Orihuela Costa: These areas stood out as hotspots for budget-conscious buyers and investors. Affordable apartments and townhouses near the beach were in high demand, particularly among international buyers from Scandinavia, the UK, and Germany. 2024 was also a good year for investments in this area, as the potential rental returns keep growing. 
• The Northern Triangle: From Denia to Calpe, including Jewels Javea, Moraira, Altea, Benitachell, and Benissa: The northern Costa Blanca saw a surge in demand for luxury villas and eco-friendly homes. Buyers are increasingly drawn to properties that offer both modern amenities and sustainable living. The calmer, and cleaner environment also contributes to this region's popularity. 

Infrastructure improvements, such as the expansion of Alicante-Elche Airport, the Torrevieja harbor project, and road network upgrades, enhanced the region’s accessibility and appeal.

Costa del Sol: Marbella Leads the Way

Costa del Sol, with its glamorous appeal, saw exceptional growth in the luxury real estate segment:

• Marbella: The city cemented its reputation as a global hotspot for high-end real estate. Modern villas with private pools, beachfront penthouses, and gated communities remained popular among buyers from the Middle East, Northern Europe, and North America.
• Estepona, Mijas, and Casares: Coastal cities near Marbella and all necessary services, such as the airport and coveted golf courses. These areas are known for their luxury and newly developed real estate. 
• Rental Yields: Investors were attracted to the lucrative short-term rental market, driven by Costa del Sol's thriving tourism sector. Properties in Marbella and surrounding areas offered excellent returns.

Cultural events, such as Marbella’s International Film Festival and the Costa del Sol Art Week, added to the region's appeal, making it not just a place to live, but a vibrant cultural destination.

Ibiza: Luxury and Lifestyle

The allure of Ibiza remained strong in 2024, particularly among affluent buyers:

• High-End Villas and Fincas: Ibiza's real estate market catered to buyers seeking exclusivity and privacy. Modern architectural designs blended seamlessly with the island’s natural beauty were especially in demand.
• Lifestyle Appeal: Ibiza continues to attract those looking for a laid-back yet sophisticated lifestyle, with its renowned nightlife, Michelin-starred restaurants, and wellness retreats.

The island's limited land availability ensured stable property values, making it a reliable choice for long-term investors.

Key Trends That Defined 2024

1. Sustainability as a Priority

Buyers increasingly prioritized eco-friendly homes, with features such as solar panels, energy-efficient systems, and sustainable construction materials becoming top considerations.

2. Rise in International Buyers

The Golden Visa program continued to attract non-EU investors, while favorable currency exchange rates drew interest from British, Scandinavian, and American buyers.

3. Strong Tourism Recovery

Spain’s robust tourism growth directly boosted demand for short-term rental properties, especially in areas like Marbella, Torrevieja, and Ibiza.

4. Digital Nomads and Relocation

Remote work trends led to an influx of digital nomads and expatriates seeking a Mediterranean lifestyle. Costa Blanca, with its lower cost of living, emerged as a favorite for this demographic.

Our Gratitude and Goodbye to 2024

To our valued clients, partners, and collaborators: thank you for trusting Hansson & Hertzell to guide you through the Spanish real estate market in 2024. It has been a privilege to help you find your dream homes, secure lucrative investments, and navigate the dynamic property landscape in Spain’s most beautiful regions.

As we look ahead to 2025, we remain committed to providing exceptional service, market insights, and personalized support. Whether you’re looking for a coastal retreat, an investment opportunity, or a fresh start in the sun, we’re here to make your real estate journey seamless and rewarding.

Looking Forward to 2025

The coming year promises new opportunities and exciting developments in Spanish real estate. Stay tuned to our blog for the latest updates, market trends, and insights. Until then, we wish you a joyous holiday season and a prosperous New Year!

Thank you for choosing Hansson & Hertzell. See you in 2025!

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