Paseo de Recoletos has become the most expensive residential street in Spain, with an average price of €19,000 per square metre, according to the 2025 Maximum and Minimum Report prepared by Grupo Tecnitasa. This figure displaces Calle Serrano, traditionally considered the most valuable area in Madrid's prime market.
The study also highlights other enclaves where the highest prices in the country are concentrated. Nou Llevant and Portixol, in Palma de Mallorca, reach €16,000 per square metre; Puente Romano, on Marbella's Golden Mile, registers values of €15,000; and Paseo de Gracia, in Barcelona, now exceeds €10,000.
According to Tecnitasa, the shortage of supply, the attractiveness of international demand and the uniqueness of the properties are the factors that sustain these price levels in the luxury segment. The combination of strategic location, exclusivity and differentiated product generates behaviour that is different from that of the conventional residential market.
The report also reflects an increase in the price gap between the most affordable areas and those with the highest purchasing power. In Madrid, the range goes from €950 per square metre in certain southern neighbourhoods to €19,000 in Recoletos. In Andalusia, prices range from €525 per square metre in Jerez de la Frontera to €15,000 in Marbella. In both cases, the difference exceeds €7,500 per square metre.
This picture confirms that the prime residential market is not only maintaining its strength, but is also widening the gap with more affordable areas every year, consolidating these locations as investment havens with prices at historic highs.