The price of luxury housing in the main real estate markets in Spain

The average price of real estate for sale in Spain closed in 2022 at €1,921 per square meter, with an annual increase of 5%, according to the annual report by Idealista, a real estate marketplace in Southern Europe. During the same period, the price of luxury homes, defined as those sold for over €1 million, ended the year with an average price of €7,135 per square meter for luxury apartments and €4,436 per square meter for private homes with high purchasing power.

Taking into account the data from the last quarter of 2022

Let's review the price dynamics of these luxury homes in the most prominent market segments of leading residential markets by provinces (villas) and metropolitan cities (apartments).

Balearic Islands, Malaga and Santa Cruz de Tenerife

Three provinces with the highest villa prices. Three major markets stand out for private homes - the Balearic Islands, Malaga, and Alicante - thanks to their connections with sunshine and beach tourism, as well as properties in primary or secondary housing by the coast.

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The Balearic Islands archipelago has the highest average price among the provinces analyzed for luxury villas, at €5,993 per square meter. Following it is the province of Malaga, with €4,892 per square meter, after experiencing an annual growth of 11.3% in the fourth quarter. Alicante is the third largest market for private housing over €1 million; however, with its €3,962 per square meter, it has been surpassed in price by Santa Cruz de Tenerife (€4,436 per square meter), Girona (€4,152 per square meter), and Gipuzkoa (€4,008 per square meter).