Housing prices in Cartagena are still going up, mainly because there aren’t enough new homes being built.
Some builders are hesitant to start projects, worried that archaeological finds could stop construction. As a result, prices have risen by 12.4 per cent over the past year, now averaging €1,338 per square metre, according to Idealista.
Rising costs in Cartagena’s historic centre
The most expensive area in the city is the historic centre, where prices hit a record high in February after jumping 21.9 per cent to €2,107 per square metre. The charm of Cartagena’s old town, with its pretty streets and rich cultural history, continues to attract buyers, driving prices to unprecedented levels.
Expensive areas in Alameda and Cabo de Palos
Alameda is also costly, with prices increasing by 13.4 per cent to €1,679 per square metre. This area, known for its atmosphere and convenient access to local amenities, has become increasingly desirable among buyers.
Cabo de Palos is the priciest part of the municipality. Property prices there have risen by 39.6 per cent in a year, now reaching €4,480 per square metre. The fishing village has become even more desirable over time, and with so few homes for sale, prices remain high. The area’s stunning coastline and proximity to the Mediterranean Sea have turned it into a sought-after destination for both holidaymakers and investors.
Price increase in Playa Honda
Nearby Playa Honda has also seen an increase, now at €2,193 per square metre. This area is also becoming a hot spot for potential homeowners due to its scenery and relaxed pace of life. As demand continues to rise in these coastal areas, prices show no signs of dropping.
The struggles of homebuyers in Murcia and Spain
For many families, buying a home is getting harder. In Murcia, it takes an average of 16 years of savings to afford a deposit. Across Spain, this rises to 24 years. With rising costs and limited savings, many people are forced to rent, even though renting is often more expensive than paying a mortgage. The situation is growing more difficult as the price of property continues to climb, leaving many people wondering if homeownership will remain an achievable goal in the future.
As prices soar, many residents are calling for more affordable housing options to be built in the region. There is growing pressure on local authorities to find solutions that balance the region’s historical preservation with the need for more modern developments.
Read more Costa Calida news, articles and events here