Snapshot of house prices in the richest areas of Spain

According to a report by the Spanish Statistical Institute (INE) entitled Urban Indicators 2023, the neighborhoods with the highest average annual net income per capita (2020 data) were El Viso (40,815 euros per year), Recoletos (37,067 euros) and Castellana (36,660 euros), all three located in Madrid.

Also according to INE, there are significant inequalities within cities, so the statistics also collect data for levels below the city level called Sub-City Districts (SCD). In many cases, these levels coincide with the existing division into administrative districts or neighborhoods. Currently, the list of "DMM-districts" includes 17 cities: Alicante, Barcelona, Bilbao, Córdoba, Gijón, Llospitalet de Llobregat, Madrid, Malaga, Murcia, Palma de Mallorca, Las Palmas de Gran Canaria, Seville, Valencia, Valladolid, Vigo, Vitoria and Zaragoza. In total, 523 "DMM neighborhoods" participate in the statistics.

Of the 10 neighborhoods with the highest incomes, seven are in Madrid and three in Barcelona. The ones already mentioned are joined by Piovera (36,045 euros per year), Nueva España (34,317 euros) and Almagro (33,101 euros) and the Aravaca-Plantio-Valdemarin neighborhood (30,073 euros). In between are the Catalan neighborhoods of Les Tres Torres (32,958 euros), Pedralbes (32,462 euros) and Sant Gervasi Galvani West (30,407 euros). Most of these areas have the highest house prices in their cities and in the whole of Spain, although not in the same order of income. Some of the most expensive areas to buy a home don't even make it into INE's top 10 by income. According to Idealista's used home sales data for April, the Recoletos area ranks first in value at €9,053 per square meter, reaching its highest price in the history of the southern European real estate market.

The neighborhood with the highest income appears only in sixth place between the two capitals. The neighborhood of El Viso (6.756 euros per square meter) lags behind Castellana (8.136 euros per square meter) or Almagro (7.143 euros per square meter), and even areas such as Heronimos or Diagonal Mar and Front Maritim del Poblenou, in Barcelona, which are not in the top 10 INE. This block of prices for the sale of second-hand properties is followed by the districts of Pedralbes (6,351 euros per square meter) and Les Tres Torres (6,127 euros per square meter) in Barcelona, ahead of the Madrid districts of Nueva España (6,068 euros per square meter) and Conde Orgaz-Piovera, different from the DMM district of INE with a price of 4,620 euros per square meter.

On the other hand, the lowest incomes were in Seville: in the neighborhood of Polygon Sur in the Sur district (5,816 euros) and the neighborhoods of Los Pajaritos and Amate in the Cerro Amate district with an income of 6,043 euros, and in the Juan XXIII neighborhood in Alicante (6,503 euros). The cities of San Sebastian, Bilbao and Madrid have the highest incomes.