Every one of Spain's 50 provinces has at least one property listed for over €1 million on idealista, but their distribution is uneven. Notably, the provinces of Malaga, the Balearic Islands, Madrid, Alicante, and Barcelona account for 79.6% of all such properties. In many provinces with fewer than 20 listings, their share is so small that it appears as 0.0%.
As of August 1, 2024, Spain has 40,076 luxury homes on the market priced over €1 million. The Balearic Islands leads with 24.1% of the total, followed by Malaga with 20.9%, Madrid at 12.5%, Alicante with 11.2%, and Barcelona at 10.9%.
Girona ranks sixth with 6.3%, while Santa Cruz de Tenerife holds 2.7%. The top provinces also include Valencia and Cádiz, each with 1.7%, Las Palmas at 1.1%, and both Granada and Vizcaya at 0.7%.
Conversely, as of August 1, Soria has the fewest luxury homes listed, with just one. It is followed by Teruel and Palencia, each with two, and Zamora with three. Badajoz has six listings, Leon seven, and both Ourense and Cuenca have eight each. Their contribution to the national total is minimal.
Where are Spain's ultra-luxury homes?
There is, within the world of luxury itself, an even more exclusive area – the ultra-luxury market, including properties over €3 million. The 7,889 properties at this price listed at the beginning of August are mainly on the Balearic Islands (2,903 listings; 36.8% of the total) and Malaga (2,566 listings; 32.5%). They are followed by Madrid (786; 10%), Barcelona (480; 6.1%), Alicante (394; 5%) and Girona (238; 3%). In a total of 11 provinces, there are no properties on the market for more than €3 million.
Data compiled and analysed by idealista/data, idealista's proptech, which provides information for a professional audience to facilitate strategic decision-making in Spain, Italy and Portugal. It uses all the idealista database parameters in each country and other public and private data sources to offer valuation, investment, recruitment and market analysis services.