Luxury real estate in Spain: Malaga is home to more than a third of the luxury houses in Spain.

Spainprovincial dominatedMálagaespecially the region known as the “Golden Triangle” - Benahavis,EsteponaandMarbella. This area leads both in the number of transactions with thereal estateas well as the availability of luxurioushousesfor sale in Spain.

According to a report by Hiscox, a specialized company that provides advisory services to high-income clients, there are now a number of high-income clients in theMalaguetMore than 2,500 homes worth more than 3 million euros. This represents 34% of the total number of identified luxury homes in Spain, exceeding 7,000 units.

AfterMalagain terms of luxury housing is followed by the Balearic Islands, ranking second in the luxury housing market, and theMadridandBarcelonaoccupy 10% and 6% respectively. These four provinces together represent 80% of the supply of luxury housing in Spain, according to Hiscox.

According to the Hiscox report,Spainranks as the fourth most desirable luxury housing investment in the world, behind theU.S.UK and Australia. Investing in luxuryreal estatein Spain is an attractive option, especially for buyers from countries such as the UK, Germany,Franceand China.

Spain continues to be a popular destination for foreign investment, but there are regulations that can limit foreign investment in the country.

For example, in the Balearic Islands, there is now political pressure to impose restrictions on home purchases by foreign buyers.

Who buys luxury real estate in Spain? The foreign buyer remains the main client in the luxury real estate marketreal estate. Post-Brexit, the British continue to make up the majority of foreign buyers, not only in the province of Málaga, but throughout the country.

According to Hiscox, in the wake of the pandemic, buyers from theMadridhave become major purchasers of luxury homes, choosingMarbellaas a primary residence. In the current context of uncertainty and falling asset values, the luxury segment remains attractive to investors.

The most sought after areas for luxury real estate in Málaga are Marbella and Benahavis. However, there are other prestigious neighborhoods inMarbellaSuch as La Zagaleta, Puente Romano, Las Lomas, Puerto Banus and others.

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