Four provinces luxury stock

Spain has more than 36,000 residential properties priced over one million euros each and more than 6,000 priced over three million. The majority of luxury homes are concentrated in just four provinces, three of which are coastal, while one is the center of ultra-luxury.

According to a report published by the Idealista portal on August 1, 2021, Spain’s market has 36,368 luxury residential properties priced over one million euros, and each of the 50 Spanish provinces has at least one such home.

The provinces of Málaga, Balearic Islands, Madrid and Barcelona account for 73% of all properties in this price category. In many provinces with fewer than 20 listings, their percentage share is negligible — 0.0%.

Málaga is the province with the highest concentration of luxury real estate: 23.1% of the total. It is closely followed by the Balearic Islands with 22.9%, then Madrid (15.1%) and Barcelona (12%).

Alicante ranks fifth in the number of properties priced over one million euros — 9.7%, followed by Girona (4.8%).

The ranking of major provinces with the highest number of luxury housing is completed by Cádiz (1.9%), Santa Cruz de Tenerife, Valencia, Las Palmas and Biscay. Santa Cruz de Tenerife has 654 luxury real estate properties (1.8% of the total), Valencia has 620 homes priced over one million euros (1.7%). With a notable gap follow Las Palmas with 303 properties priced over one million euros (0.8%), Biscay (28), Seville (240), Gipuzkoa (221) and Pontevedra (201).

Luxury that barely exists

On the other hand, the province with the fewest luxury real estate listings as of August 1 is León — just one property. It is followed by Zamora with two homes, Teruel (2), Soria (2), Palencia (3), Cuenca (3), Badajoz (4), Albacete (5) and Salamanca (5).

In the luxury market, there is an even more exclusive segment — ultra-luxury housing priced over three million euros, according to Idealista.

Málaga — the ultra-luxury capital

More than 6,000 properties in this price category, listed for sale in early August, are concentrated mainly in Málaga (2,216 listings; 36.8% of the total) and the Balearic Islands (1,937 listings; 32.2%). They are followed by Madrid (693; 11.5%), Barcelona (382; 6.4%), Alicante (360; 6%) and Girona (136; 2.3%).