Four Spanish provinces account for 73% of the luxury housing stock

Where do the wealthy live in Spain? Four provinces of Spain have 73% of all the most expensive property in the country. Which are Spain's richest areas and how much luxury real estate are there for sale?
Spain offers more than 36,000 homes each of which is over one million euros, and more than 6,000 for over three million. The majority of luxury homes are concentrated in just four provinces, three of which are coastal capitals, and one is home to ultra-luxury homes.
Spain has 36,368 luxury homes on the market, with prices over one million euros, and each of the 50 Spanish provinces has at least one home worth over one million euros, according to a report published by Idealista on 1 August 2021.

The provinces of Malaga, the Balearic Islands, Madrid and Barcelona account for 73% of all available homes above that amount. In many provinces, with less than 20 homes advertised, their percentage weight is insignificant – 0.0%.
percentage of luxury homes in regions of spain
Percentage of luxury homes in regions of Spain
Malaga is the province with the highest concentration of this type of property, with 23.1% of the total. It is closely followed by the Balearic Islands, with 22.9%, and then the Community of Madrid (15.1%) and Barcelona (12%).

Alicante is the fifth province with the highest accumulation of properties over one million, with 9.7%, followed by Girona (4.8%).

The ranking of the main provinces with the most luxury homes is completed by Cadiz (1.9%), Santa Cruz de Tenerife, Valencia, Las Palmas and Vizcaya. Santa Cruz de Tenerife has 654 luxury homes, 1.8% of the total, and Valencia has 620 homes worth more than one million euros (1.7%). They are followed at a greater distance by Las Palmas, with 303 homes over one million euros (0.8%), Bizkaia (28, Seville (240), Guipúzcoa (221) and Pontevedra (201).

Luxury, hardly non-existent

On the other hand, the province with the fewest luxury properties advertised, as of 1 August, is León, with just one. It is followed by Zamora, with a couple of houses, Teruel (2), Soria (2), Palencia (3), Cuenca (3), Badajoz (4), Albacete (5) and Salamanca (5).

In the luxury market there is also an even more exclusive area, such as the ultra-luxury homes, with a price of more than three million euros, according to Idealista.

Malaga, capital of ultra-luxury

More than 6,000 properties of this price that were advertised at the beginning of August are mainly concentrated in Malaga (2,216 ads; 36.8% of the total) and the Balearic Islands (1,937 ads; 32.2%). They are followed by Madrid (693; 11.5%), Barcelona (382; 6.4%), Alicante (360; 6%) and Girona (136; 2.3%).

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