Galicia is a promising real estate market, drawing the attention of both investors and wealthy buyers from throughout Spain and from abroad. The following is a short list of the most expensive districts, with the best real estate, in the autonomous community of Galicia.
A Coruña: Old City
Old Town of A Coruña is the unchanging leader of any rating of the most expensive areas in Galicia. The average price per square metre in this region is higher than 3,040 euros, which is far from affordable for everyone. At the same time, prices are spread rather equally, making it challenging to distinguish only one street or building as the undisputed leader in prices or as having the most exclusive offers.
But in general, the majority of high-cost offers are concentrated around the Plaza de María Pita and Riego de Agua.
A Coruña: Juan Flórez and Ensanche
Juan Flórez and Ensanche. According to Idealista, an online real estate platform, in September 2022, the average cost per square metre of dwelling in these areas exceeded the mark of 3,020 euros. The most expensive apartments for sale can be found close to the Riazor beach. The average apartment area is 185 square metres. Although there are bigger offers among the regions of Galicia.
A Coruña: Riazor
The rating includes both the Riazor district and the Riazor beach. According to information provided by Idealista, Recorrido de Ronda is the most expensive Riazor neighbourhood. It also has the longest list of new buildings for sale. In Recorrido de Ronda you can find apartments worth about 700,000 euros with an area of about 150 square metres. The extra elite and expensive offers feature open costal views. The most costly options among these apartments will cost the buyer 1.1 million euros.
Vigo: Alcabre District
In Alcabra, a district of coastal Vigo, Avenida da Atlantida and Camino da Garita are the most eye-catching offers for people interested in luxury real estate. In the first, the average price of real estate is 2,900 euros per square metre. The minimum price for a studio does not fall below 150,000 euros. Camino da Garita has the most expensive housing, such as a five-bedroom apartment of 450 square metres at a price of around 1.35 million euros.
Vigo: Casco Vello
Casco Vello is one of the most affordable housing options among the top cities in the ranking. Prices for local homes and apartments have not risen as rapidly as prices in Alcabra recently; the growth rate has hardly surpassed 5%. The area is still quite far from its historical highs set in March 2011. This favourably sets it apart from its opponents if we talk about people looking for luxury housing “for growth”. The Alameda area is the main place for real estate, starting at 650,000 euros.
Vigo: Centro Areal
The cost of housing in this area of Vigo is 2,655 euros per square metre. Both the buying price and the rental rates are extremely high as well. The cost of apartments on streets like Colón easily exceeds 1 million euros.
Nigran: Panxón
By the end of September 2022, real estate prices in the Panxón area (note the city of Nigran, the region (comarca) of Vigo) increased by 9% year-on-year. Since September 2020, the rise on housing prices has been constant, reaching 2,600 euros per square metre in January 2022.
Santiago de Compostela: Ensanche
According to Idealista, property prices in the Ensanche district have remained stable in recent months at about 2,300 euros per square metre. The most expensive and premium units are located on the streets of Xeneral Pardiñas and Montero Rïos.
Sanxenxo: Portonovo
The Portonovo region of Sanxenxo is the place where the most costly real estate is to be found. Housing costs rose by more than 155% between September 2021 and September 2022. The price per square metre reached 2,294 euros, but a month later it grew by an additional 200 euros. For those looking for luxurious apartments with a good price/area ratio, Urbanization Flujo de Agua Vallejos will be an excellent option. As a rule, such an apartment will cost the buyer 360,000 euros.