Each of the 50 Spanish provinces has at least one property for more than one million euros advertised on idealista, the leading real estate marketplace in southern Europe, but the distribution of these properties is not at all consistent. In fact, the provinces of Málaga, the Balearic Islands, Madrid and Barcelona account for 69% of all available properties above that amount. In many provinces, with less than 20 dwellings advertised, their percentage weight is insignificant, and therefore are considered as 0%. Let's have a closer look at where you can find luxury real estate in Spain, from villas to houses and luxury condos in Spain.
Spain has, as of 1st August 2022, 40,295 luxury homes on the market with prices over one million euros. Málaga is the province with the highest concentration of this type of property, accounting for 23.3% of the total. It is closely followed by the Balearic Islands with 22.1% of the total, followed by Madrid (11.8% of the total) and Barcelona (11.6%).
Alicante is the fifth province with the highest accumulation of over one million products, with 10.6%, followed by Girona with a percentage of 5.5%. The ranking of the main provinces with the most luxury homes is completed by Santa Cruz de Tenerife (2.2%), Cádiz (2.1%), Valencia (1.7%), Las Palmas (0.8%), Granada and Biscay (0.7% in both cases).
On the other hand, the province with the fewest luxury homes advertised is Palencia, with only one. It is followed by Teruel (2), Soria (2), León (5), Zamora (6), Cuenca (6), Lugo (7), Guadalajara (8), Ourense (9) and Burgos (9), whose weight in the national total of this market is insignificant.
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 7,775 properties of this price that were advertised at the beginning of August on idealista are mainly concentrated in Málaga (2,895 listings; 37.2% of the total) and the Balearic Islands (2,497 listings; 32.1%). They are followed by Madrid (746; 9.6%), Barcelona (439; 5.6%), Alicante (426; 5.5%) and Girona (221; 2.8%).