Where are the most luxurious homes in Spain?
Three out of every four luxury homes are in Malaga, Mallorca, Ibiza, Madrid and Barcelona
Each of the 50 Spanish provinces has at least one home of more than one million euros advertised on idealista, the leading real estate marketplace in southern Europe, but their distribution is not homogeneous. In fact, the provinces of Malaga, the Balearic Islands, Madrid and Barcelona account for 73% of all available homes above that amount. In many provinces, with less than 20 homes listed, their percentage weight is negligible, so they appear as 0.0%.
Spain has, as of August 1, 2021, 37,128 luxury homes for sale on the market, with prices above one million euros. Malaga is the province where more homes of this type are concentrated, since they account for 23.1% of the total. It is followed very closely by the Balearic Islands (including Mallorca and Ibiza) with 22.9% of the total, followed by the Community of Madrid (15.1% of the total) and Barcelona (12%).
Alicante is the fifth province in which more product accumulates above a million, with 9.7%, followed by Girona with 4.8%. The ranking of the main provinces with the most luxury homes is completed with Cádiz (1.9%), Santa Cruz de Tenerife (1.8%), Valencia (1.7%), Las Palmas (0.8%) and Biscay (0.8%).
On the contrary, the province in which the least luxury homes are advertised, as of August 1, is León, with only one. They are followed by Zamora (2), Teruel (2), Soria (2), Palencia (3), Cuenca (3), Badajoz (4), Albacete (5) and Salamanca (5), whose weight over the national total of this market is negligible.
Super ultimate luxury properties
There is, within the world of luxury itself, an even more exclusive terrain such as ultra-luxury homes, those with a price of more than 3 million euros. The more than 6,000 properties of this price that had been announced at the beginning of August are mainly concentrated in Malaga (2,216 advertisements; 36.8% of the total) and the Balearic Islands (1,937 advertisements; 32.2%). They are followed by Madrid (693; 11.5%), Barcelona (382; 6.4%), Alicante (360; 6%) and Girona (136; 2.3%).
Most buyers are interested in buying luxury villas in Marbella or Mallorca
Property prices in Mallorca increase
Property prices in Mallorca during 2021 recorded a spectacular increase of +8.1% bringing the average square meter price of an apartment to €3,566/m2.
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