According to euroweeklynews.com, Spain's property market demonstrates remarkable resilience as used home prices surged by 0.9% in the third quarter, reaching an average square meter price of €2,007, marking a substantial 7.5% annual increase. The growth is primarily attributed to a scarcity of available homes nationwide, fostering upward price pressure. High demand from financially strong individuals, coupled with over 50% of transactions occurring without financing, contributes to this phenomenon. Foreign buyers, particularly in coastal regions such as the Canary Islands, have also played a role in the market's consistent growth. While certain dynamic markets like Madrid, Palma, San Sebastián, and Málaga have reached historic price highs, stabilization trends are emerging. Nonetheless, a dozen Spanish capitals, including A Coruña and Vitoria, witnessed slight declines in housing prices. San Sebastian maintains its position as the most expensive capital, followed by Barcelona and Madrid, while Zamora remains the most affordable. In the third quarter, property prices increased in 11 autonomous communities, with the Canary Islands leading the way with a 4% surge. In contrast, Catalonia experienced the most significant decline in prices. When examining provincial trends, 15 provinces noted price reductions in the third quarter, with Ourense seeing the most substantial drop. On the other hand, Santa Cruz de Tenerife experienced an impressive 5.6% increase, establishing itself as the priciest province in terms of property prices. In summary, Spain's property market exhibits resilience, driven by home scarcity, strong demand from qualified buyers, and the influence of foreign buyers, particularly in coastal areas like the Canary Islands, which have experienced significant property price growth.

To view the original article, from euroweeklynews.com click here.

GoldAcre Estates wants to highlight the real estate market in Fuerteventura and how it continues to be a point of interest for investors and homeowners alike. With the picturesque landscapes and booming tourism industry, it's no wonder that the island's property market has shown some fascinating dynamics in the third quarter of 2023, this paradise has become more than just a tourist haven; it has evolved into a promising destination for real estate investment.

In this article, GoldAcre Estates will dissect the current state of the real estate market in Fuerteventura, specifically focusing on five prominent municipalities: Antigua, La Oliva, Pájara, Puerto del Rosario, and Tuineje. By analyzing the price per square meter, monthly, quarterly, and annual variations, we aim to provide potential buyers with compelling insights into the investment opportunities this island has to offer.

Let's dive into the data to understand the trends across the island's municipalities.

Antigua: An Unwavering Climb

Antigua, with its consistent and impressive year-over-year price growth of 15.3%, exemplifies the thriving real estate market in Fuerteventura. Despite a modest monthly variation, the municipality's potential for long-term value appreciation is unmistakable. Those looking for a stable and appreciating investment would do well to consider Antigua.

2.298 €

Price/m2 (Sep-23)

1,4 %

Monthly Variation (Sep-23)

1,9 %

Quarterly Variation
(Jul-23 to Sep-23)

15,3 %

Annual Variation
(Sep-22 to Sep-23)

La Oliva: A Steady Ascent

La Oliva, another hotspot in Fuerteventura, offers a remarkable annual price increase of 18.5%. With monthly and quarterly variations on the positive side, it demonstrates not only stability but also significant growth potential. This municipality's soaring property values suggest an attractive proposition for prospective investors.

2.941 €

Price/m2 (Sep-23)

1,3 % 

Monthly Variation (Sep-23)

2,9 % 

Quarterly Variation
(Jul-23 to Sep-23)

18,5 % 

Annual Variation
(Sep-22 to Sep-23)

Pájara: Reliability in Price Stability

Pájara might have seen a slight dip in the short term, but its long-term promise is evident with an annual price growth of 11.20%. This municipality's price stability is an excellent sign for those looking for a budget-friendly yet reliable entry into the Fuerteventura real estate market.

2.194 €

Price/m2 (Sep-23)

-0,50% 

Monthly Variation (Sep-23)

-3,10% 

Quarterly Variation
(Jul-23 to Sep-23)

11,20% 

Annual Variation
(Sep-22 to Sep-23)

Puerto del Rosario: The Emerging Investment Hub

Puerto del Rosario is emerging as a lucrative investment hub with a 13% annual price increase. Monthly and quarterly variations remain on an upward trajectory, highlighting its potential to provide healthy returns for real estate investors in the near term.

1.446 €

Price/m2 (Sep-23)

1,10 %

Monthly Variation (Sep-23)

4,70 %

Quarterly Variation
(Jul-23 to Sep-23)

13 %

Annual Variation
(Sep-22 to Sep-23)

Tuineje: An Island's Best Kept Secret

Tuineje presents a unique opportunity with its high annual variation of 16.70%. The recent short-term fluctuations are likely a temporary adjustment in a market that has shown significant potential for growth.

1.785 €

Price/m2 (Sep-23)

-3,80 

Monthly Variation (Sep-23)

-3,50 %

Quarterly Variation
(Jul-23 to Sep-23)

16,70 %

Annual Variation
(Sep-22 to Sep-23)

In summary, the real estate market in Fuerteventura is brimming with opportunities for investors. Each of the five municipalities offers distinct advantages, from the stability of Pájara to the steady ascent of La Oliva and the emerging investment hub in Puerto del Rosario. Even the temporary fluctuations in Tuineje are overshadowed by its impressive annual growth.

For those seeking a slice of paradise in the form of real estate, Fuerteventura is proving to be not only a delightful place to live but also a promising destination to grow your investment. With its consistently rising property values and the potential for substantial returns, the time is ripe to consider Fuerteventura as your next real estate venture. The golden sands of opportunity await in this Canary Island paradise.

GoldAcre Estates has been operating across the entire island of Fuerteventura for 20 years, committed to helping you find the property you desire. Whether you're looking to buy or sell, our team will support you throughout the process.


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