Very visually, the president of the Spanish Federation of Tourist Housing, Miguel Ángel Sotillos, says that to get an apartment located on the beachfront “this summer there are cakes”. He adds that the battle to get it occurs almost every summer season, although this year both demand and prices have increased. “From 2019 to 2021, prices dropped a lot due to the pandemic, some even up to 30%, and now between recovery and inflation it is normal for them to rise,” reflects Sotillos.
The increase in prices is also reported by the president of the Association of Tourist Housing in the Valencian Community (ApturCV), who insists that those who go to a tourist home seek lower spending than in campsites or hotel complexes. But the consultancy Tecnitasa has set a figure for this increase that clients and owners have already verified: the increase in prices is 3.75% on a national average and in the Valencian Community it registers increases of between 3 and 6%.
Where they rise the most is in the Balearic Islands and the Canary Islands, together with Galicia and the Basque Country, since the national average for rentals on the coast grows by 3.75% this year. The consultant warns that since the pandemic it has risen more than 27%, going from 826 euros in 2020 to the current 1,055 euros in August 2023. But the president of ApturCV recalls that, with the exception of Benidorm, most towns They only work in the months of July, August and September, “so if the market pays for it, it is normal for them to be placed at that price.”
And it is that if in the summer of 2022 a week of stay in a vacation rental cost 1,016 euros on average, this year the average increase is less than 40 euros a week, going up to 1,055 euros this 2023. With respect to the first summer of the pandemic, the Tecnitasa report maintains that the increase is greater than 27% and translates into 230 euros more per week than three summers ago.
Since the pandemic, prices have risen more than 27%
With all Report 2023 Rental Coast in Spain confirms that the Valencian Community is one of the regions with the most affordable rentals, since in the three provinces it finds prices of around 500 euros per week. According to the data, in the province of Castellón, both in Moncofa and Vinaròs, you can find 70-square-meter apartments for 500 euros on the promenade.
In Valencia, in El Saler, there is an offer for 520 euros and, in Alicante, in the municipality of Calpe, a 70-meter apartment on the beachfront for 525 euros/week. The most expensive offer included in the report is located in Benidorm, the tourist capital par excellence, where a holiday property located between the first and third lines on Poniente beach can cost up to 1,465 euros to rent for a week. They are not the only ones that go up to 1,000 euros, both vacation rentals on the beach of San Juan in Alicante and in Pilar de la Horadada are close to that price.
According to Fernando García Marcos, technical director of Tecnitasa, “summer rental is a much more volatile market than the conventional real estate market, since both the volume and the quality of the offer, as well as the prices vary as the summer draws about”. For Miguel Ángel Sotillos, it is difficult to generalize since he warns that each apartment has its own characteristics that can greatly determine its price.
“In the same urbanization of Benidorm, with a pool included, one can be rented for 300 euros a day and another, two floors below, for 100. There are many cases,” adds Sotillos. A review in Booking leaves some ideas of where prices are going this year and reveals that it is almost impossible to find one-week tourist rentals, on the beachfront and for a family of four, for less than 1,000 euros. The same search but with hotel accommodation increases the cost between 300 and 400 euros.