The Balearics, Malaga, and Alicante account for 60% of luxury homes for sale in Spain
Six out of ten luxury homes put up for sale in Spain, i.e. those costing more than one million euros, are concentrated in the main tourist areas of the country in the Balearic Islands, Malaga, and Alicante, according to a report by Idealista real estate portal, with the exception of the Canary Islands.
As of 1st August 2023, Spain had 40,375 luxury homes on the market with prices above one million euros. The Balearic Islands are the province in which the most properties of this type are concentrated since they account for 24% of the total. It is followed closely by Málaga, with 22.5%, and Alicante with 12%.
Madrid and Barcelona both have 11% of properties for sale over a million euros, followed by Girona, with 6%. The ranking of the main provinces with the most luxury homes is completed with Cádiz (2.2%), Santa Cruz de Tenerife (2%), Valencia (1.8%), and Las Palmas de Gran Canaria (1%).
ULTRA-LUXURY HOMES:
However, within the world of luxury itself, there is an even more exclusive field known as ultra-luxury homes, which are those with a price tag of more than three million euros.
The 8,328 properties at this price that were advertised at the beginning of August on Idealista are mainly concentrated in Malaga (36% of the total) and the Balearic Islands (34.5%). They are followed by Madrid (9%), Barcelona (5.5%), Alicante (5%) and Girona (3%). There are 13 provinces in Spain where there are no homes on the market for more than three million euros.
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