Owning a house by the sea is a luxury available to only a few, which can become even more inaccessible depending on the area where the property is located.
Spain's 8,000 kilometers of coastline makes it one of the countries with the highest tourist interest, therefore, apart from the price, domestic demand is becoming more complex in the face of foreign interest.
The differences in the average net annual income per person in the autonomous communities with the coastline are noticeable, as are the prices recorded in their real estate markets.
According to the National Statistics Institute, the following list can be determined:
- The Basque Country is the coastal autonomous region with the highest average net income per person - 15,813 euros per year.
- It is followed by Catalonia (€ 14,170).
- Asturias (€ 12,786).
- Cantabria (€12,748) and the Balearic Islands (€12,658).
- Galicia (€11,469).
- Valencian Community (€ 11,332).
- Andalusia (€ 9,990).
- Murcia (€ 9 850).
- The Canary Islands (€ 9,935) round out the list.
Who is the most difficult to access the coastal market in their region? According to Pisos.com, Catalans need the most years of net income to buy real estate on their coast, in particular to buy real estate on the Costa del Garraf, a total of 34 years. It takes 26 years of net income to own a house on the Costa Brava, and if they decide to buy property in more affordable areas such as Maresme or Costa Dorada, these figures drop to 14.9 and 15.4 years, respectively.
For residents of the Balearic Islands it is 27.7 years and the for the Basque Country it is 27.4 years, financial efforts are similar to those made by Catalans on the Costa Brava or Andalusians to buy real estate on the Costa del Sol (28 years). Depending on the analyzed Andalusian coast, the indicators differ significantly downward: 20.7 years on the Costa de la Luz (Cadiz and Huelva), 18.5 years on the Costa Tropical (Granada) and 11.6 years for buying real estate on the coast of Almeria.