Foreign buyers drive 60% of ultra-luxury home demand
Foreign buyers are driving demand in Spain's ultra-luxury housing market, accounting for 60% of purchases, according to Hiscox. The insurer notes that prices for properties in this segment have risen by 30% over the past five years. The Balearic Islands, Málaga, Madrid and Barcelona account for 83% of homes valued at more than €3 million, while international demand is particularly strong in prime locations such as Benahavís and Andratx.