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PROPERTY SEARCH

Date Published: 10/02/2025

The town in Murcia leading Spain in property price hikes

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This charming Mar Menor municipality has seen a 160% increase in the cost of homes

The town in Murcia leading Spain in property price hikes

The property market is still on fire in Spain and things are only getting tougher for potential homebuyers. While local economists are keen to push for more affordable housing by tapping into available land, finding a property that ticks all the boxes – one that’s in good condition, meets every need and falls within budget - has become a real challenge.

It’s no secret that property prices are steadily climbing, especially in big cities or popular tourist areas, and the Region of Murcia hasn’t been immune. While we’re not talking about the sky-high prices seen in the likes of Madrid or Ibiza, where a square metre is coming in at as much as 10,000 euros, the price hikes in Murcia are still pretty significant.

In fact, recent figures show that the Region of Murcia has seen the highest rise in property prices in the last year across all of Spain.

According to studies, Madrid, unsurprisingly, dominates the list of the most expensive neighbourhoods. Ibiza’s Santa Eulària des Riu follows closely behind and San Sebastián’s Área Romántica rounds out the top spots.

Incredibly, the price per square metre in these premium areas is nearly four times the national average, which closed 2024 at around 2,389 euros/m². This means that a home in one of these hotspots, and a fairly standard one at that, could set buyers back close to a million euros or more.

Coming back to the Region of Murcia, and there’s one neighbourhood that’s been making waves for its skyrocketing prices: Los Cuarteros, a charming district of San Pedro del Pinatar. This area has seen an eye-popping 160% increase in the cost of homes over the past year, making it the fastest-growing property market in all of Spain.

But why the sudden surge in prices? According to property experts, Los Cuarteros, along with neighbouring Lo Pagán and Villananitos, has become one of the main tourist hotspots of the Mar Menor. With all the new leisure and tourism options on offer, it’s no wonder that more and more people are choosing to settle down here, not just for the summer, but year-round.

Real estate moguls believe that the booming demand for properties in places like San Pedro del Pinatar is driven by the high quality of life on offer, the resale and rental potential of homes and a broad tourism appeal, all of which attract wealthy buyers both from Spain and abroad.

The result is a rising tide of very expensive properties with prices hitting new heights, sometimes quadrupling the national average.

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