Four provinces account for 70% of Spain's luxury homes

Four provinces account for 70% of Spain's luxury homes

Each of the 50 Spanish provinces has at least one property for more than one million euros advertised on idealista, but the distribution of these properties is not homogeneous. In fact, the provinces of Malaga, the Balearic Islands, Madrid and Barcelona account for 70% of all available properties above 1 million euros. In many provinces, with less than 20 dwellings advertised, their percentage weight is insignificant, so they appear as 0.0%.

Spain has, as of 1 August 2023, 40,375 luxury homes on the market with prices over one million euros. The Balearic Islands is the province with the highest concentration of this type of property, accounting for 23.8% of the total. It is closely followed by Malaga with 22.5% of the total, followed by the Community of Madrid (12.1% of the total) and Barcelona (11.2%).

Alicante is the fifth province with the highest accumulation of over one million products, with 10.7%, followed by Girona with 5.9%. The ranking of the main provinces with the most luxury homes is completed by Cadiz (2.2%), Santa Cruz de Tenerife (2.1%), Valencia (1.8%), Las Palmas (0.9%), Granada and Vizcaya (0.7% in both cases).

On the other hand, the provinces with the fewest luxury properties advertised, as of 1 August, were Palencia, Soria and Zamora, with only one in each. They are followed by Teruel (2), León (4), Guadalajara (5), Cuenca (5), Salamanca (6), Ourense (8), Badajoz (8), Valladolid and Burgos (9 in both cases), whose weight in the national total of this market is insignificant.

Ultra-luxury housing

Within the world of luxury itself, there is an even more exclusive area, that of ultra-luxury properties, those priced at over 3 million euros. The 8,328 properties of this price that were advertised at the beginning of August are mainly concentrated in Malaga (3,023 listings; 36.3% of the total) and the Balearic Islands (2,874 listings; 34.5%). They are followed by Madrid (761; 9.1%), Barcelona (461; 5.5%), Alicante (429; 5.2%) and Girona (252; 3%). In a total of 13 provinces there are no properties on the market for more than 3 million euros.

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