As Spain enters 2026, the country’s high-end property market remains firmly led by the Balearic Islands. According to data from idealista, Madrid’s Salamanca district still tops the national ranking, with average prices approaching €10,000 per square metre, reinforcing its status as Spain’s most exclusive urban address. At the same time, six locations across Mallorca and Ibiza dominate the top ten, joined by prime districts in Málaga and San Sebastián.
International demand continues to underpin price growth in the Balearics, driven by lifestyle buyers and long-term investors. Madrid’s most sought-after neighbourhoods are also seeing sustained momentum, supported by limited supply and strong domestic and overseas interest. Overall, the Balearics account for six of the ten most expensive districts in Spain, followed by Madrid with two, and Guipúzcoa and Málaga with one each.
Calvià leads by municipality
By municipality, Calvià stands out with three districts in the national top ten. Madrid city follows with two, while the remaining prime locations are spread across Andratx, Palma, Santa Eulalia del Río (Ibiza), San Sebastián and Benahavís (Málaga) — highlighting the geographic concentration of Spain’s luxury housing market in coastal and capital-city hotspots.
Salamanca remains Spain’s most expensive district
Salamanca continues to lead the ranking at close to €9,950/m², marking its highest level since before the financial crisis after double-digit annual growth through 2025. Close behind is Costa d’En Blanes in Calvià, now firmly established as one of Spain’s premier residential enclaves, with prices nearing €9,700/m² following strong yearly gains.
Port d’Andratx completes the podium at around €8,900/m², maintaining its position just below the €9,000 mark and confirming southwest Mallorca as one of Europe’s most resilient luxury markets.
Madrid and Málaga show strong momentum
In Madrid, Chamberí stands out for its exceptional performance, with annual growth above 20% pushing prices to approximately €8,700/m², the highest level ever recorded for the district. Demand from both local and international buyers continues to support premium values in the capital’s historic neighbourhoods.
Further south, La Zagaleta–El Madroñal in Benahavís (Málaga) also recorded notable growth, approaching €8,000/m² after a year of sustained price increases. The area’s ultra-luxury villas and gated communities keep it among Spain’s most exclusive residential markets.
San Sebastián and Ibiza at record levels
Northern Spain also features prominently. Centro and Miraconcha in San Sebastián hover around €8,570/m², reflecting the city’s limited stock and strong demand for seafront properties.
On Ibiza, the district of Jesús in Santa Eulalia del Río continues to attract international buyers, with prices exceeding €8,350/m², consolidating the island’s position in Spain’s luxury segment.
Mallorca dominates the luxury ranking
The Balearic presence is completed by Son Vida in Palma, with prices above €8,580/m², and two further areas in Calvià alongside Costa d’En Blanes: Portals Nous–Bendinat (€8,350/m²) and Cas Català–Illetes (€7,990/m²). Together, these districts underline Mallorca’s role as the epicentre of Spain’s high-end residential market as 2026 begins.
Outlook for 2026
With international demand holding firm, limited new supply, and Spain’s continued appeal to high-net-worth buyers, the country’s luxury property market enters 2026 with strong fundamentals. While price growth may moderate after the sharp rises of 2024 and 2025, Spain’s elite districts remain firmly positioned among Europe’s most desirable — and most expensive — places to buy property.
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