House Prices Rise in Cartagena due to a lack of supply

Housing Prices Surge in Cartagena Amid Construction Slowdown

Cartagena is seeing a sharp rise in housing prices — up 12.4% in the past year — with homes now averaging €1,338 per square metre. The main reason? Not enough new homes are being built.

Many developers are hesitant to begin construction projects, fearing delays due to archaeological discoveries. While the region’s rich history is part of its charm, it’s also a factor slowing new housing supply — and pushing prices higher.

Historic Centre Hits Record Highs

The city’s most expensive area is the historic centre, where prices soared 21.9% in just one year, reaching €2,107 per square metre. With its picturesque streets and deep cultural roots, the old town continues to attract buyers looking for character — and willing to pay a premium for it.

Demand Grows in Alameda and Cabo de Palos

The Alameda neighbourhood saw prices rise by 13.4%, now averaging €1,679 per square metre. Known for its vibrant atmosphere and great access to amenities, it’s becoming one of Cartagena’s most sought-after areas.

Meanwhile, Cabo de Palos, a scenic fishing village on the Mediterranean coast, is now the most expensive area in the municipality. Property prices have jumped a staggering 39.6% over the past year, reaching €4,480 per square metre. Limited availability and coastal appeal continue to drive intense demand.

Coastal Appeal Fuels Playa Honda’s Rise

Nearby Playa Honda is also gaining attention, with prices rising to €2,193 per square metre. Its laid-back lifestyle and seaside charm are drawing both locals and second-home buyers looking for tranquillity by the water.

A Tough Road for Homebuyers in Murcia and Across Spain

While demand grows, affordability shrinks. In Murcia, it now takes an average of 16 years of savings to afford a deposit. Nationwide, that figure jumps to 24 years.

With limited savings and high costs, many families are turning to rentals — even though renting often costs more than a mortgage. As homeownership slips further out of reach, locals are calling for urgent action.

Calls for Change: More Affordable Housing Needed

Residents and advocates are urging local authorities to address the housing shortage by balancing heritage preservation with the need for modern, affordable developments. Without new homes, many fear that Cartagena’s housing crisis will only get worse.