All 50 Spanish provinces have at least one property for more than €1 million listed on idealista, but their distribution is not even. The provinces of Malaga, the Balearic Islands, Madrid and Barcelona have 70% of all available properties above that amount. In many provinces, with less than 20 properties listed, their percentage weight is insignificant, so they appear as 0.0%.
As of 1 August 2023, Spain has 40,375 luxury homes on the market worth more than €1 million. According to idealista/data, the Balearic Islands is the province with the highest concentration of this type of property, accounting for 23.8% of the total, followed closely by Malaga with 22.5%, and then the Community of Madrid (12.1%) and Barcelona (11.2%).
Alicante is the fifth province with the most properties over €1 million, with 10.7%, followed by Girona with 5.9%. Next are Cadiz (2.2%), Santa Cruz de Tenerife (2.1%), Valencia (1.8%), Las Palmas (0.9%), Granada and Vizcaya (0.7% in both cases).
On the other hand, the provinces with the fewest luxury homes listed as of 1 August are Palencia, Soria and Zamora, with only one in each. They are followed by Teruel (2), Leon (4), Guadalajara (5), Cuenca (5), Salamanca (6), Ourense (8), Badajoz (8), Valladolid and Burgos (9 in both cases), whose weight in the national total of this market is insignificant.
Where are the ultra-luxury homes in Spain?
There is an even more exclusive area within the world of luxury residential real estate: ultra-luxury properties, i.e. those priced at more than €3 million. The 8,328 properties of this price listed at the beginning of August are mainly in Malaga (3,023 listings; 36.3% of the total) and the Balearic Islands (2,874 listings; 34.5%). They are followed by Madrid (761; 9.1%), Barcelona (461; 5.5%), Alicante (429; 5.2%) and Girona (252; 3%). Thirteen provinces have no properties on the market for more than €3 million.
| Province |
Listings | Properties over 1 million euros Percentage |
Listings | Properties over 3 million euros Percetntage |
|---|---|---|---|---|
| Balearics | 9,605 | 23.8% | 2,874 | 34.5% |
| Malaga | 9,102 | 22.5% | 3,023 | 36.3% |
| Madrid | 4,904 | 12.1% | 761 | 9.1% |
| Barcelona | 4,519 | 11.2% | 461 | 5.5% |
| Alicante | 4,339 | 10.7% | 429 | 5.2% |
| Girona | 2,398 | 5.9% | 252 | 3.0% |
| Cádiz | 878 | 2.2% | 201 | 2.4% |
| S/C de Tenerife | 859 | 2.1% | 125 | 1.5% |
| Valencia | 722 | 1.8% | 22 | 0.3% |
| Las Palmas | 366 | 0.9% | 21 | 0.3% |
| Granada | 271 | 0.7% | 8 | 0.1% |
| Biscay | 285 | 0.7% | 20 | 0.2% |
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