Housing Market Report Q2-2023: Home Sales Costa Blanca | How´s the market this year?

18th September 2023


How´s the property market in Spain doing?


Last week the official figures for the second quarter of 2023 have been released by the Spanish property registries (Colegio de Registradores de la Propiedad bienes Muebles y Mercantiles de España)..

As you probably know by now, me and the team here at nardia real estate agency like to inform you based on facts. Therefore we provide you with the latest statistics and market figures for the real estate market in our region. The complete report you find here below.



The results from this market report in a nutshell: 

Homes sold in Spain   -7,3%

Costa Blanca home sales   +9,7%

Mortgages: 62,56% of homes sold were financed with a mortgage.

Prices in Spain went up with +3,1%

Costa Blanca prices went up

Foreign demand: 14,94% of Spanish homes are bought by a foreigner

Top 4 nationalities: British, Germans, French and Moroccans (see all 13 nationalities below)

Costa Blanca foreign demand: 44,67%

Costa Cálida foreign demand: 23,56%

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In This Market Report:

Homes Sold in the Second Quarter of 2023     

Price Level          

Trend: price rises start to slow down   

Market Overview Second Quarter 2023              

Comunidad Valenciana, Andalucia & Balearic Islands      

Shortage of Quality Homes for sale         

Trend towards Custom Build Homes     

Foreign Demand              

Q2-2023 Foreign Demand by Region      

Nationalities that bought most homes in Q2-2023:


Trend: More Cash Buyers 

The Spanish Economy

Company Formations 

Insolvency proceedings Q2 


Market Outlook              


Homes Sold in the Second Quarter of 2023

In the whole of Spain 151.983 homes were sold. 7,3% less compared to the same period last year. The decrease amounts to 5,6% compared to the first quarter of 2023.

Once more the Comunidad Valenciana, where Costa Blanca is, shows that it is different with an increase of 9,7% in homes sold! 

The Comunidad Valenciana is with 25.114 home sales in Q2-2023 the second region of Spain with a market share of 16,12% of the total Spanish property market.

Alicante and Valencia are again among the provinces with the most homes sold with 12.622 and 9.829 homes sold respectively.


Price Level

Compared to the first three months of 2023 In Alicante prices rose with 6,1% for new build homes and 0,5% for existing homes. In Valencia new homes were 5,3% more expensive and existing homes 2,4%. 

Murcia noted a rise of 7,5% for new homes and 1,4% for existing homes.

In Spain the average price of the homes sold however has gone up with 4,1% for new build homes and 2.7% for existing homes.  Overall home prices in Spain rose with 3,1% compared to the first three months of 2023.

Trend: price rises start to slow down

A trend of slower rising property prices becomes slowly visible for the whole of Spain. The quarterly price levels are still on the rise although the annual trend seems to slow down.

Compared to a year before this quarter prices rose with 3,1% whereas the increase was 4,9% in the first quarter compared to a year before.


Market Overview Second Quarter 2023:

   - In our team we notice a stable demand from our clients who wish to invest in a property in Spain. The Costa Blanca region offers a very attractive – and affordable –life style that our clients highly appreciate. In the second quarter the amount of home sales closed by our team was just above the sales closed a year before and slightly below the first quarter.

The Comunidad Valenciana, where Costa Blanca is, is with 25.114 home sales in Q2-2023 the second region of Spain with a market share of 16,12% of the total Spanish property market.

As we mentioned in our May 2023 market report, property sales went fast and strong in the first part of 2023, right from the start of the year. At the time we were not sure if the season just started sooner or maybe there was a seasonal shift in the buyers’ market. The unusually high amount of sales closed in the first months of the year now seems to have been somewhat compensated in the second quarter when 3,1 % less homes were sold in the Comunidad Valenciana compared to the first 3 months of the year.


Below you find an overview of the most sought after regions, the number of homes sold in the second quarter of 2023, the market share in the Spanish property market and the variation compared to the first quarter of 2023:


#1 Andalusia, 30.698 homes sold, market share 20,46% (-/- 5,0 % compared to Q1-2023)

#2 Comunidad Valenciana, 25.114 homes sold sold, market share 16,12 (-/- 3,1% compared to Q1-2023)

#3 Cataluña, 24.210 homes sold, market share 15,95% (-/- 4,8 % compared to Q1-2023)

#4 Comunidad de Madrid, 18.995 homes sold, market share 12,35%  (-/- 4,6% compared to Q1-2023)

#5 Canary Islands, 6.570 homes sold, market share 4,53%  (-/- 17,8% compared to Q1-2023)

#9 Murcia, 5.195 homes sold, market share 3,52%  (-/- 14,4% compared to Q1-2023)

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Comunidad Valenciana, Andalucia & Balearic Islands

In the Comunidad Valenciana region, where Alicante and Costa Blanca are part of, house sales rose with 9,7% compared to the same period last year. A total of 101.702 homes were sold in the last 12 months.  Murcia, where Costa Calida is shows a rise of 2,5% compared to last year with 22.239 homes sold.

Shortage of Quality Homes for sale

By comparison, in Andalusia a slight decrease of 1,6% was noted whereas the Balearic Islands sold in total 12,4% less homes compared to last year.  For the Balearic Islands it is worth mentioning that the decline seems to be completely due to a lack of homes available for sale. The number of new build homes on the Balearic Island rose with 8,7% and the sale of existing property declined with 16,3%. 

In our region we notice that the demand for quality homes is high and when you scroll the internet you will see there are a lot of houses and apartments for sale. However, when we take a closer look at location, building quality and perceived value, the demand is much higher than the actually available quality homes.


Trend towards Custom Build Homes

In our team we also notice that clients more and more consider a custom build home or brand new apartment over an existing property.

At this moment there are 5 villas under construction for our clients on Costa Blanca.

Our team specialises in completely new build homes and off-plan investments in apartments and villas.

If you want to talk about the possibilities, let us know!


Foreign Demand

The demand from foreign investors rose with 0,42% compared to the first 3 months of 2023. Of all homes sold in Spain, 14,94% was bought by a foreigner.

However, on Costa Blanca 44,67% of homes were sold to a foreigner and on Costa Cálida 23,56%. Both regions show an increase in foreign demand compared to the year 2022.


Q2-2023 Foreign Demand by Region

Comunidad Valenciana 29,91% foreign demand

Alicante 44,67% foreign demand (41,75% in 2022)

Murcia 23,56% foreign demand   (19,08% in 2022)

Canary Islands 30,64% foreign demand

Balearic Islands 30,38% foreign demand

Andalusia 14,19% foreign demand


We firmly believe that the strong demand on the Costa Blanca is based on a combination of excellent location in terms of climate and transportation with the rest of Europe, affordable living standard and also specialist medical facilities that are available in your own language.

Based on our sales closed so far this year and the conversations with clients we expect demand to be stable on the Costa Blanca as clients plan to maintain their investments.


Nationalities that bought most homes in Q2-2023:

British 8,8% |   1.966 homes

Germans 7,25% |  1.619 homes

French 6,65%  | 1.465 homes

Moroccans 5,37% |  1.200 homes

Italians 5,22% | 1.166 homes

Romanians 5,15%  |  1.151 homes

Belgian 5,09% |  1.138 homes

Dutch 4,61%  |  1.030 homes

Polish 3.92%  |  869 homes

Russians 3,43%  | 760 homes

Chines 3,09%   | 685 homes

Swedish  2,94%   |  652 homes

Ukrainians 2,72%   |  603 homes



In Spain a total of 151.983 properties were sold in the second quarter of 2023 and 93.557 were financed with a mortgage, that is 61,56%.  The amount of mortgages granted dropped with 14,5% compared to the first 3 months of the year.

In Spain the average mortgage granted is 141.059,- euros. Of all new mortgages granted 62,55% opted for a fixed interest rate and the average repayment term is 24,58 years with a monthly instalment of 703,90 euros.

By comparison: in our market report for the year 2022 we noted that 71,72% of all properties sold in 2022 were financed with a mortgage in Spain.

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Trend: More Cash Buyers

It seems more home buyers in Spain decide to pay cash for their home. The decrease of 14,5% in mortgages granted (15.849 mortgages less) is a much higher than the drop of 7,3% in homes sold (9.041 less homes sold).

In Comunidad Valenciana 10.984 homes were financed with a mortgage in the second quarter of 2023. That is 43% of the 25.114 homes sold.

In Murcia 2.662 mortgages were granted for the purchase of a home. That is 51% of the 5.195 homes sold.

Both Costa Blanca and Costa Calida show that more homes are paid cash than the national average of 61,56%.


The Spanish Economy:

   - The Spanish economy is performing well, even in the face of rising interest rates the  inflation in Spain was in August with 2.6% well below the European average of 5.3%.

   - According to the Spanish National Statistics Institute (INE), new job creation has increased in the second quarter of 2023 by 2.88% compared to the year before.


Company Formations:

   - Entrepreneurship is thriving in Spain!

In July, there was a significant increase in new company formations in the Comunidad Valenciana and in Murcia too.

In the Comunidad Valenciana, where Costa Blanca is,  1.077 new companies were created in July 2023, 15.2% more than in July 2023 (in May a rise of 1,7% was noted compared to May 2022).

On Costa Cálida 258 new companies were created in July, 36,%% (in May a rise of 2,3% was noted compared to May than in 2022).

By comparison, in the whole of Spain 8.292 new companies were created in July. 15,4% more than in July 2022.   


Insolvency proceedings Q2

The number of limited liability companies in serious financial difficulties that filed for insolvency proceedings in Spain in the second quarter of 2023 1.132, a rise of 38.2% compared to the same quarter of 2022 while compared to the past 12 months a decrease of 12.6% is be noted.


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Market Outlook

Our agency has been in the business since 2013 and we have a strong connection with the real estate market. Through our clients who trust our market knowledge to invest and on the other side through our extensive network where we deal directly with the best property developers, top quality construction companies, international investment funds, Spanish banks and real estate portfolio managers.

Our vision on the property market for the medium long term is that investors and entrepreneurs alike remain positive about Costa Blanca and Costa Cálida. The number of properties sold is considerable and the creation of new businesses is on the rise. The fact that many more properties than the national average are paid for in cash, without mortgage financing, is a strong sign of a solid property market that investors are confident to invest in.

All of these indicators confirm a solid sentiment with a strong indicator of the regions´ attractiveness and economic strength.

At nardia real estate agency we are confident for the medium long term future


Kind regards,

Tom Bruijnzeel & the friendly team at nardia real estate agency




When buying a property - wherever that my be - it is good to know that you can travel to your home from within the European Union whenever you want, no matter how adverse the circumstances. The Free Movement of persons in the European Union is one of the corner stones of the E.U. European Citizens and their family members have the right to move and reside freely within the European Union.

You can read more about the possibilities to travel to Spain during the COVID-19 health crisis and restrictions that were applicable here on our website

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Once you have made your calculations and you are sure that you can live comfortably, we can search together for the one property that suits your wishes, criteria and budget. More information about the cost of living in Spain can be found 

On our website, you can use our search tool to help find the perfect Spanish property. You can select your desired property type, number of bedrooms and budget required to narrow your search. It is also possible to search by region Costa Blanca NorthCosta Blanca South & Costa CalidaCosta de Almeria or sea front property Spain.

Do you want to walk to the beach from your home? 
Click here for our selection of ´walk to the beach homes´ on the Costa Blanca!


Villas with private pool for sale in Costa Blanca can be found here

You can also scroll our selection of beautiful homes on a golf resort or very close to a golf course! Golf Properties in Spain

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Read here what others say about our services and services!

On our website you can find property for sale in Spain:

Villa with private pool Spain for sale
Penthouse with large terrace for sale 
New build villa for sale
Costa Blanca North villa for sale
Luxury villas Spain more than 1 million for sale 

The information in this report is freely available on the website of the Spanish Property Registry, National Institute for Statistics (INE) and the Spanish Company Registry. 

This Housing Market Report for the Spanish Property Market for the Second Quarter of 2023 has been written by Tom Bruijnzeel. He is the author of this informative Market Report about the Spanish Real Estate Market and other articles and reports on our website.
Tom has a master degree in Law from the University of Rotterdam (the Netherlands), holds a bachelor degree in Business and Economics and is fluent in Spanish, French, English and Dutch with full business proficiency in German. In 2013 he started nardia real estate agency in Spain. The website www.nardia.es is available to all who are thinking of investing in a property in Spain or already own a property and have questions about property tax in Spain, the correct registration of a property in Spain or the taxes due when selling a house in Spain.

If you want to connect via Linkedin:  linkedin.com/in/tombruijnzeel


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