Pozuelo de Alarcón (Madrid) ranks first in the list of the wealthiest municipalities in Spain with an average disposable income of 53,185 euros. The small town of Avinyonet del Penedés (Barcelona) ranks second (45,631 euros) before its neighbouring town Matadepera (41,881 euros), according to data from the Spanish the Tax Agency. Let’s analyse the property market in the 5 most expensive municipalities in Spain by examining data provided by the real estate website idealista.
The top 10 of the highest average disposable incomes in Spain are shared by the provinces of Madrid and Barcelona. Pozuelo de Alarcón (Madrid) is once again the wealthiest municipality in the country with 53,185 euros per year, although this number is somewhat lower than in previous years, according to the latest data published by the Spanish Tax Agency based on the incomes of 2017.
Despite being the richest municipality in Spain, the average price of pre-owned properties for sale reached 3,092 euros/m2 on average in September, according to the latest property price index for pre-owned homes published by idealista. This average price is far from the highest values currently registered in Spain. In the Community of Madrid, the municipalities of Madrid (3,770 euros/m2) and Majadahonda (3,131 euros/m2), surpass that of Pozuelo.
Right now, in Pozuelo there are more than 1,450 houses and flats for sale. The highest prices reach 17 million euros for mansions of almost 3,000m2, with exclusive areas such as Avenida de Europa (3,828 euros/m2) or the areas that make up the Prado de Somosaguas and the famous urbanization of La Finca, home to artists and footballers, with 3,349 euros/m2.
In second position ranks the small town of Avinyonet del Penedès in Barcelona, with a population of just 1,669 inhabitants and an average disposable income of 45,631 euros. According to the newspaper El País, the region is home to one of Spain's great fortunes, the heirs of Isaac Carasso, founder of Danone.
However, the average property prices in this area barely reach 1,269 euros/m2, the most affordable of the country's 10 richest municipalities. At the moment, there are 124 advertisements of properties for sale on idealista, with “masías” (typical farmhouses) and fincas for more than two million euros.
Boadilla del Monte ranks third in the ranking of the wealthiest municipalities in Spain, with an average disposable income of 41,881 euros. The average price of pre-owned property for sale in this municipality in Madrid is 2,383 euros/m2. The most expensive areas of the town are in Sector B (2,928 euros/m2) and the old town (2,832 euros/m2). In this municipality there are more than 1,000 advertisements, with housing prices reaching up to six million euros.
Matadepera in Barcelona lands on the fourth spot of the rankings, with an average disposable income of 41,779 euros. The average property prices in Matadepera exceed two thousand euros (2,042 euros/m2), with a rise of 21.2% year-on-year, although far from the maximum price reached in 2013 (2,380 euros/m2). This exclusive area just one hour from Barcelona at the foot of Sant Llorenç del Munt offers exclusive homes with prices that reach 8.5 million euros.
Alcobendas, the largest of the first 10 municipalities, with more than 116,000 inhabitants, appears in fifth position. The average disposable income reaches 39,376 euros, which includes the exclusive urbanization of La Moraleja, one of the most expensive in Spain.
However, regarding housing prices, idealista has made a distinction between the homes for sale in the area of La Moraleja and the municipality of Alcobendas. Just to point out the difference, the prices of the exclusive urbanization reach 4,386 euros/m2, while the rest of the town reaches 2,755 euros.
Majadahonda and Torrelodones (Madrid), Sant Cugat del Vallés, Sant Just Desvern and Cabrils (Barcelona) complete the top 10 of the wealthiest cities in Spain, all with very similar average disposable incomes ranging from 39,336 euros to 38,146 euros.
The highest property prices in Spain can be found on the Balearic Islands: Formentera (7,201 euros/m2), Eivissa (5,168 euros/m2), Sant Josep de Sa Talaia (5,107 euros/m2), Sant Joan de Labritja (5,048 euros/m2) and Santa Eulalia del Río (4,817 euros/m2).
However, these municipalities rank rather low on the ranking of the average disposable incomes. In fact, Formentera ranks 220th, with 23,617 euros. Ibiza's capital reaches the 161st place, with 24,515 euros. The rest of the municipalities of the islands of Ibiza and Formentera rank 193rd (23,926 euros), 322nd (22,628 euros), and 259th (23,215 euros), respectively.