Alicante families need to allocate eight full years of salary to pay for a home

The price of housing in Alicante rose again in February and is at its peak in the capital. With 2,274 euros per square metre, it is 15.3% higher than the same month in 2024 and already 400 euros more than the cost per square metre in 2007, during the height of the housing bubble.

With housing prices soaring, Alicante families have increased the effort required to afford it. On average, in the capital, a home consumes 30% of a family's income, which is nearly a third of the entire salary.

With housing prices skyrocketing and wages rising much more moderately, the effort for Alicante residents has increased, and it would now take eight full years of a family's income to pay for a two-bedroom home in Alicante.

This is according to an analysis by the real estate portal Idealista, which references data from the National Institute of Statistics (INE) on housing prices for the last quarter of 2023. Data that places the price of a two-bedroom apartment in Alicante at 244,584 euros.

According to the INE, the average family income in Alicante is around 30,701 euros. With these figures, it would take eight full years of family income to pay for a two-bedroom home in Alicante.

These figures place the city of Alicante as the sixth capital in Spain with the highest number of years needed to afford housing, only behind Barcelona, San Sebastián, Madrid, Palma de Mallorca, and Málaga, and ahead of Valencia, Tenerife, or Bilbao.

It even surpasses the Spanish average, which stands at six full years of family income to pay for a two-bedroom apartment, priced, according to the INE, at 187,108 euros.

As for the province, the situation is very similar. Although the average housing price slightly drops to 217,048 euros, family incomes also fall by about 3,000 euros, to 27,380 euros, requiring Alicante families to allocate 7.9 times their entire earnings to reach the average housing prices. A price that varies greatly depending on the locality, with some like Benidorm, Moraira, or Benitatxell at historic highs and with exorbitant prices.