While in some regions of Spain a budget of between 3 and 4 million euros no longer guarantees the possibility of buying a home that meets traditional luxury criteria, Alicante province occupies a different position.
Of the six markets analysed by Grupo Tecnitasa, including the Balearic Islands, Malaga, Madrid, Barcelona, Girona and Alicante, this province shows the strongest match between property price and quality.
Up to 92% of properties in this price range meet the characteristics that the consultancy associates with the luxury housing segment in Spain.
Price and real luxury characteristics do not always coincide
According to Tecnitasa, property value increasingly depends on factors such as location, condition, surface area, plot size, views, privacy and the scarcity of comparable assets.
For this reason, the company distinguishes between luxury by price and luxury by characteristics – two concepts that no longer always coincide in Spain’s main markets.
In this context, Alicante stands out as the main exception.
The report shows that 61.4% of all housing supply valued above 3 million euros is concentrated precisely in the 3 to 4 million euro price range.
In addition, 92% of these properties meet the criteria traditionally associated with established luxury, the highest figure among all the regions studied.
Girona ranks second with 87%, followed by Barcelona with 70%, Madrid with 57%, Malaga with 41% and the Balearic Islands with 37%.
Spacious villas dominate the Alicante market
According to the consultancy, the explanation lies in the structure of Alicante’s market itself.
Unlike other provinces, where this price range includes apartments, penthouses or residential properties in need of renovation, Alicante is dominated by spacious detached villas.
The study shows that practically all listings priced between 3 and 4 million euros are single-family homes, while apartments and townhouses are generally sold in lower price segments.
These properties are concentrated mainly in Dénia, Jávea, Moraira, Altea, Cabo de las Huertas, Playa de San Juan and El Campello.
According to Tecnitasa, the typical property in this segment is a detached villa of around 500 m², built on plots of approximately 2000 m².
In many cases, these are new-build homes or properties built only a few years ago, often self-developed, with spacious outdoor areas, swimming pools and modern designs focused on outdoor living.
Buyer profiles differ depending on the area
The report also distinguishes buyer profiles depending on the areas of the province.
In resale markets, clients from Northern and Eastern Europe predominate, while in the provincial capital of Alicante Spanish buyers play a more visible role.
Another distinctive factor is that a significant share of these homes are located less than 200 metres from the sea, and some are on the first or second line from the shore.
In Altea, properties with panoramic views stand out in particular.
Costa Blanca maintains a balance between price and product quality
As a result, Alicante maintains a relationship between investment and the product offered that is no longer typical of other benchmark markets.
While in the Balearic Islands or on the Costa del Sol a budget of 3 to 4 million euros can buy luxury housing in certain areas, though not always the most prestigious properties, on the Costa Blanca this price range still gives access to homes that combine plot size, interior space, privacy, views and proximity to the sea.
The study therefore places Alicante and Girona among the markets with the greatest purchasing power, in contrast to the Balearic Islands and Malaga, which are considered the most overstretched, while Madrid and Barcelona occupy intermediate positions.
According to the analysis, buyers increasingly need to assess the real characteristics of a home rather than focusing only on the transaction amount.
Alicante strengthens its position in the luxury property market
The report also comes at a time of growth for the luxury housing segment in the province.
Alicante has more than 5000 properties for sale priced above 1 million euros, representing 11% of the national market, as well as around 450 properties valued above 3 million euros.
The province ranks fifth in Spain by number of ultra-luxury homes.
The highest-priced properties for sale in the Valencian Community are located in Altea, where two villas are priced at 11 and 9.9 million euros, while the third most expensive property is another villa in Cabo de las Huertas, listed for 9.4 million euros.
The list also includes properties in Benidorm, Dénia, Jávea and Moraira, underlining the importance of these municipalities in the luxury housing market on the Costa Blanca.
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