Property prices in the Costa Blanca North municipality of Javea have risen by 11.2% in the past year which makes it the leading coastal municipality for property price increases in the last 12 months.
The data released by valuations company Tinsa showed that prices rose in 35 coastal municipalities over the last year which is in stark contrast to the stats for a year ago when only 4 municipalities had recorded price increases.
It also follows the news that prices on the Mediterranean coast increased for the first time since 2008 in March this year (0.2%) and prices were up again in May by 1.4% showing that the property sector on the Spanish coasts is finally returning to life after the crisis.
Javea was one five municipalities in Alicante which have seen property prices increase over the last twelve months being joined by Benidorm (+3.6%), Orihuela (1.6%), Torrevieja (1.4%) and Denia (0.2%).
The town is one of the Costa Blanca North’s most sought after locations and has long been connected with luxury and high-class lifestyle. It enjoys the incredible backdrop of the Marina Alta mountains and combines this with beautiful beaches and coves.
These qualities have made the municipality a favourite for foreign buyers with the foreign population having been put at 53.1% in the census conducted by the Spanish National Statistics Institute in 2012.