Below you’ll find an overview of the growing property market and the current housing prices in Javea in 2022.
This report has been prepared by the international and experienced real estate agents at Blanca International. Whether you’re looking for a hilltop luxury villa with an infinity pool, a charming apartment or house in the old town, we’ll help you find your perfect home in Javea.
Since the days of the Romans, Javea has been an elite and prestigious place to reside.
Spanish royalty, government ministers, stars of stage, screen, sport, fashion and music have always flocked to Javea. Many of Spain’s rich and famous have a second home in Javea, while many more have made Javea their permanent home.
When looking at housing prices in Javea, you should know that Javea is split into six areas. Housing prices vary substantially from the most expensive road in the whole Valencian Community to more affordable flats and townhouses catering to the local population.
The Javea housing market has been booming in recent years. It’s hard to drive from the old town to the sandy Arenal beach without passing yet another apartment complex under construction.
But although the housing prices in Javea are expensive compared to other beachtowns and the inland Costa Blanca north, bargains and smart property investments are still available for those willing to put in the time and effort to search.
Which area has the highest housing prices in Javea?
The port of Javea with its white washed houses, art deco church and fishery currently stands as the most expensive district in which to buy property. Recent figures according to the leading real estate body in Spain, Idealista, shows that the prices of a property in the port of Javea in March of 2022 reached an average of 3,482€ per m2.
This clearly shows an increase of 18% in housing prices compared to pre-pandemic times. Housing prices in the port area of Javea in March 2019 were 2,638€ m2, which in March 2021 had risen to 3,114€ m2 and then rose a further 11.82% to March 2022.
Which area has the lowest housing prices in Javea?
There’s quite a difference between the luxurious, charming homes in the port of Javea compared to the region with the lowest housing prices.
The region with lowest housing prices is called the Montgo-Partida Tosal. Here, the trend of the booming property market is much slower, with an increase of 3% from March 2019 (2,071€ m2) to March 2021 (2,133€ m2), and a subsequent increase from March 2021 to March 2022 (2,247€ m2) of 5.34%.
The most expensive street in the Valencian Community has a Javea postcode – Carrer Pic Tort
With its privileged position overlooking the beautiful bay of Granadella, Carrer Pic Tort is known as the most expensive street in the Comunidad Valenciana.
The road winds up from Granadella cove, offering properties built at the top of the hill in prime position without fear of anything blocking views of the shimmering Mediterranean sea.
Due to the exclusivity of properties on Carrer Pic Tort, they stand in vast contrast to the housing prices of the surrounding region. Although Idealista will confirm that the most expensive houses (3,482€ per m2) are to be found in the port, the average price per m2 on Carrer Pic Tort is approximately 4,043€ m2.
According to a study from Idealista on the most expensive roads in Spain, the average price of a property on Carrer Pic Tort was €3,080,409 in 2021. That made it the most expensive street in Alicante province and the wider Valencian Community. Average prices here were only bettered by the most expensive streets in the Balearic Islands, Andalucia, Barcelona and Madrid.
Comparing housing prices in Javea to surrounding towns
Moraira is a small town only 13.8km South of Javea and shares many similarities in its cuisine, port area, sandy beaches and popularity with expats.
While smaller Moraira is seen as Javea’s sleepy cousin, with a much more tranquil way of life, in recent years a marked increase in its desirability with foreign investors has created a substantial increase in property values, surpassing it’s neighbour Javea.
Today, Moraira as a whole has the highest average property prices in the entire Valencian Community.
While at the highest housing price range, differences are negligible between Javea and Moraira (0.86%). However, at the lowest end of the housing market the difference is substantial with Moraira being 34.9% more expensive than its neighbour Javea.
This is because Javea has a larger permanent resident population and a larger old town area, where housing prices are typically much lower than the luxurious villas which dot its idyllic coves and hillsides.
Benitachell is a small town with a population of 4,447 inhabitants which neighbours Javea. Although only 7.6km away from Javea and 8.4km from Moraira, there is a dramatic difference in property prices with Javea being more expensive than Benitachell by 34.9%. This shows that while only a 10 minute drive from Javea, people will pay a substantial amount more for what Javea can offer.
Housing prices of villas vs apartments in Javea
When the time comes to choose between buying a villa or an apartment in Javea, ultimately you will be paying for the area which you live in rather than the property in which you live.
For example, a modern luxury 3 bedroom, 2 bathroom, 175m2 villa with pool and parking – built to the highest specification and constructed on a 1,100m2 plot – located on the prestigious Villes del Vent development is on the market for 449,500€.
In comparison a 200m2, 3 bedroom, 2 bedroom apartment with communal pool and parking – constructed on one of the best front line locations in Javea right between the Port and the Arenal – is on the market for 1,050,000€.
In Javea, housing prices are always higher the closer you are to the sea.
Another aspect to take into account is the proximity of the property in relation to services that you require. Where do we want to buy our future property in Javea? Close to areas to spend our spare time like the Paseo del Arenal? In the town itself near to the offices, healthcenters, shops and supermarkets? Maybe even a little further out like the residential areas on Balcon del Mar or built onto the side of the mountain?
In any case, buying a house anywhere in Javea is wonderful because everything is in such close proximity to each other. Even properties that are a little further away from the town centre are not too distant from restaurants and supermarkets.
Javea housing prices in post-pandemic 2022
At one time, it seemed impossible the Javea property market would recover after two years of lockdown and restrictions.
Before the outbreak of the coronavirus, the financial situation of Spanish households and companies in the sector was generally healthier than it was 12 years ago during the financial crash. However after the outbreak of the pandemic it was noted the number of property sales fell swiftly by 39.2%.
Sales from foreign buyers understandably dropped the most dramatically.
The good news is that after a gradual recovery, last year property purchases by non-Spanish nationals returned to pre-pandemic levels – 48,134 purchases were registered in 2021 in Alicante province.
According to figures from Spain’s National Institute of Statistics (INE) just 21,458 properties were sold in Alicante 2021. This was 4% less than properties sold pre-pandemic in 2019. The average property price in Javea in 2021 was 400,000€.
Further adding weight to the recovery of the property market, foreign buyers contributed 167€ million euros last year compared to 144€ million euros three years previously.
The property market in Spain
The Bank of Spain expects the domestic housing market to remain fragile for some time but for international investment to grow in momentum. This means more people will be investing in holiday homes as things return to normal. For the overseas buyer, life in Spain is attractive and an excellent investment due to its popularity with tourists. For Britons, if Sterling rallies in the coronavirus aftermath, the British demand for Spanish properties is expected to surge.
One thing that Covid-19 has changed about the Spanish property market is what buyers look for in their properties. Data shows that buyers in Spain are now looking for large and efficient properties with gardens and in quiet areas.
Overall, it seems that COVID-19 temporarily disrupted Spanish property market growth rather than derailing it. Recovery may be slow initially, but it is certain to pick up as normality returns and more people are looking to travel and invest in overseas property.
Thank you for reading our report on housing prices in Javea in 2022 from Blanca International.
For any further questions regarding buying a house in Javea, don’t hesitate to get in touch. Our experienced team of international real estate agents would love to help you find your dream home in Javea.