Luxury Housing Market Thriving in Spain

The luxury housing market in Spain is thriving with more than 45,000 listings of houses for sale worth over $1.05 million at the end of November, according to a property price index of Idealista, the Spanish estate agent.

Also, more than 20% of the 45,000 exceed a price tag of $3.45 million which equates to around 9,800 homes, the index said.

The most expensive houses in the country are concentrated in five provinces: Malaga, the Balearic Islands, Madrid, Alicante and Barcelona, which is ​​almost 80% of the national total. All Spanish provinces continue to have at least one home worth over $1.05 million advertised on Idealista.

Spain’s largest high-end housing markets, like the Balearic Islands or Malaga, have around 10,000 properties for sale in this price range.

The Balearic Islands account for almost a quarter of Spain’s entire luxury housing stock for sale, closely followed by Malaga, with 21.6%, and Madrid (12.4%), followed by Alicante (11.6%) and Barcelona (9.8%) in fourth and fifth places.

In sixth place, Girona has 6% of the total luxury housing stock, followed by Santa Cruz de Tenerife, in seventh place with 2.7%, Cádiz with 2% and Valencia with 1.6%.

Ultra-luxury Homes

Ultra-luxury homes with a price tag of more than $3.45 million account for 20% of all Spain’s luxury housing currently for sale and of these, 35% are offered in the Balearic Islands, mostly in Mallorca and Ibiza, while another 33% (over 3,000 homes for sale) can be found in Malaga and the Costa del Sol.

Madrid, in third place, concentrates 10% of all ultra-luxury homes currently for sale. Its projects La Moraleja, in Alcobendas, La Finca, and Pozuelo de Alarcón are where the capital’s most expensive homes are located.

The fourth and fifth place in the ultra-luxury market are Barcelona (5.5%) and Alicante (5.3%).

In Barcelona, one can find homes worth more than $4.15 million in the towns of Maresme, Bajo Llobregat and Sitges. In Alicante, towns such as Moraira, Jávea, Denia, Altea and Benidorm have the most ultra-luxury homes.

Girona has 3.1% of Spain’s ultra-luxury homes but these are spread out along the Costa Brava in towns such as Castell-Platja d’Aro, Sant Feliu de Guíxols and Begur.

Cádiz comes next with 2.6% of all ultra-luxury homes which are located in the Sotogrande residential development close to the Cadiz and Malaga province borders. Finally, Santa Cruz de Tenerife’s ultra-luxury homes (2.5% of Spain’s total) are almost all in Costa Adeje, the Idealista’s index showed.