House Price Index puts average at €1,188 per square metre
According to the latest report on all house prices in Torrevieja by the website precioviviendas.com, which uses the market data of all the homes in the municipality, the average price has risen in the second and third quarter of 2016 by a total of 5.93%.
The report has detailed information about the value of homes by districts and streets, which is available to anyone who may be thinking about buying, selling or simply finding out the price of a house.
According to this study, District 1 of Torrevieja has experienced the biggest variation, by 7.2%, while District 2 changed the least, by 5.06%.
This biggest price rise on the main streets of the municipality was on Calle Del Tomillo, where the 434 homes are valued at €27,476,540, according to the market price. In this way, the average price per square metre increased by 4.94% to €1,000, up to a maximum price of €1,463/m2.
The next street is Calle Juan Mateo García where the price increased 4.94% to €1,041/m2. With 975 homes, this street has a total value of €72,699,379, with a maximum of €1,419/m2.
Third was Calle Patricio Zammit where it increased 4.69% to €1,050. With 921 homes the street has a total value of €72,919,581 and a maximum price of €1,578/m2.
On the contrary the most pronounced price drop of the main streets of the municipality, according to the report, was on Calle Afrodita. The price per square metre on this street dropped by 3.54% to €1,738, with a maximum of €2,383/m2. With 620 homes this street has a total value (according to the market prices) of €100,180,276.