24 hour home rush Costa Blanca South • Issue No. 2039 • 1 - 7 August 2024
SEVENTEEN per cent of homes rented on the Costa Blanca during the second quarter of this year were snapped up within 24 hours of being listed. This figure mirrors the same percentage recorded in the corresponding period in 2023, according to a study published by idealista, the leading real estate marketplace in southern Europe. Among the cities contributing to this rapid turnover is Alicante, a notable player in the Spanish rental market. Alicante, alongside Barcelona, San Sebastian, and Ciudad Real, matches the national average with 17 per cent of its rental properties being rented within 24 hours. This statistic underscores Alicante’s robust rental demand and the competitiveness of its housing market. While Alicante’s express rental rate aligns with the national average, other cities such as Toledo (32 per cent) and Vitoria (30 per cent) exhibit even higher rates of rapid rentals. Melilla and Teruel follow closely with 29 per cent each, and several other cities like Palencia, Tarragona, Castellon de la Plana, Palma, and
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Image: Nicole Kwiatkowski / Shutterstock.com
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Unlike cities such as Lleida, which saw a dramatic increase from 4 per cent to 23 per cent in express rentals over the past year, Alicante maintained a steady pace. This steadiness is contrasted with the slight declines seen in major cities like Barcelona (from 18 per cent to 17 per cent) and Madrid (from 16 per cent to 14 per cent). Alicante’s rental market, characterised by its significant rate of express rentals, aligns well with the national trend. Its position reflects a balanced and dynamic housing market that appeals to renters looking for swift housing solutions.
Huelva all share a rate of 24 per cent. In the broader context, regions such as Albacete, Ceuta, Pontevedra, Soria, and Oviedo have slightly higher percentages, ranging from 20 to 21 per cent. Santander, Cadiz, Santa Cruz de Tenerife, and Ourense each hold a 19 per cent rate, still above Alicante’s but not by a significant margin. Alicante’s consistent express rental rate reflects a stable and attractive market for both renters and property owners.
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