The luxury housing market in Spain is firmly established with over 45,000 properties listed for sale above €1 million at the end of November, according to an idealista study. Of these, more than 20% exceed prime prices, above €3 million, totalling nearly 9,800 homes. The most expensive properties are in five provinces: Málaga, the Balearic Islands, Madrid, Alicante and Barcelona, which account for almost 80% of Spain's total. The Costa del Sol and the Balearic archipelago are particularly notable for their ultra-luxury residential areas.
All Spanish provinces still have at least one property listed on idealista for over €1 million. The market ranges from a single seven-figure property in regions like Teruel, Soria or Palencia to the expansive high-end housing markets in the Balearic Islands and Málaga, where the number of luxury homes for sale is close to or exceeds 10,000 units, according to a luxury housing study by the real estate marketplace at the end of November.
The Balearic Islands account for 24.4% of all luxury properties for sale, closely followed by Málaga at 21.6%. Other regions with significant luxury housing markets include Madrid (12.4%), Alicante (11.6%), and Barcelona (9.8%). Together, these five provinces represent almost 80% of all luxury homes for sale in Spain.
Other provinces that stand out in the market for properties priced above €1 million include Girona, which accounts for 6% of the total luxury residential stock, followed by Santa Cruz de Tenerife with 2.7%, Cádiz with 2%, and Valencia with 1.6%. The province of Las Palmas completes the top 10 regions with the most six-figure homes for sale, representing 0.9% of the total.
The Costa del Sol and the Balearic Islands, the kings of the Spanish prime market
Within the luxury housing market, there is an even more exclusive segment focused on ultra-luxury homes, priced above €3 million. Over 20% of luxury properties for sale in Spain are listed at this level, amounting to around 9,800 units currently on the market.
Of these, 35% are located in the Balearic Islands, particularly in Mallorca and Ibiza, while another 33% are found in Málaga and along the Costa del Sol, both boasting more than 3,000 units for sale. Following these, Madrid is close to 1,000 'prime' units, accounting for nearly 10% of all ultra-luxury homes currently on the market, with notable luxury developments such as La Moraleja in Alcobendas and La Finca in Pozuelo de Alarcón.
Barcelona (5.5%) and Alicante (5.3%) each have more than 500 ultra-luxury properties priced over €3 million for sale as of the end of November, with more listings outside the provincial capitals than within their metropolitan areas. In Barcelona, areas such as Maresme, southern Baix Llobregat and Sitges are prime examples of locations with properties exceeding €3 million.
In Alicante, towns in the Marina Alta region, including Moraira, Jávea and Denia, stand out, as well as those in the Marina Baja, such as Altea and Benidorm.
Next in line is Girona, with over 300 properties, representing 3.1% of the ultra-luxury market. These homes are spread across Costa Brava towns such as Castell-Platja d'Aro, Sant Feliu de Guíxols and Begur. Cádiz (2.6%) with more than 250 prime homes for sale, focuses its ultra-luxury market in Sotogrande, while in Santa Cruz de Tenerife (2.5%), nearly 250 homes are valued at over €3 million are concentrated in Costa Adeje.
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