Formentera, with 9,380 euros per square meter, leads the ranking
MADRID, 19 Jul. (EUROPA PRESS) –
The Balearic Islands and Madrid are the autonomous communities where the most expensive homes in all of Spain are concentrated and, in fact, they monopolize the top 30 positions on the list, with the exception of three specific areas in Barcelona and Malaga, according to the first report on the housing market. luxury in Spain by Hiscox.
Specifically, Formentera is the town with the most expensive square meter in all of Spain, with 9,383 euros per square meter, followed by the Recoletos area in Madrid, with 9,000 euros per square meter; Portals Nous in Calvià in Mallorca, with 8,319 euros; Castellana in the capital of Spain, with 7,956 euros; and the Mallorcan area of Costa d’en Blanes in Calviá, with 7,389 euros per square meter.
Beyond the Balearic Islands and Madrid, in the top positions with the most expensive luxury homes are in Barcelona Diagonal Mar, with 7,523 euros per square meter; Pedralbes, with 6,406 euros; and La Dreta de l’Eixample, with 6,406; and Los Monteros in Malaga, with 6,842 euros per square meter.
The Balearic Islands concentrate 33% of all luxury homes, mainly the islands of Mallorca, Ibiza and Formentera. In Mallorca, in addition to the aforementioned Formentera, there are the municipalities of Calvià, Andratx and Palma, which are the ones that register the most expensive price per meter.
Portals Nous, in Calvià, is positioned as the leading area, with an average price of 8,319 per square meter and a maximum price per home of 12 million euros.
In Calviá is Costa d’en Blanes, an exclusive urbanization, where the houses have more than 500 square meters and are valued between 3 and 15 million euros.
The Port of Andratx, in the municipality of the same name in Mallorca, “represents the luxury of the Mediterranean” and is one of the most exclusive developments on the island, according to the report. The price of homes is between 3 and 15 million euros, with an average size of 550 square meters and an average price of 7,262 euros per square meter.
Within Palma de Mallorca, Hiscox also highlights Son Vida, an exclusive urbanization of the Mallorcan capital, which is located at the foot of the Sierra Tramontana, a few minutes from the city center, and whose homes have an average of 750 square meters and an average price of 6.5 million euros, although in some cases they can reach 60 million. The average price per square meter is 7,852 euros.
Finally, in Ibiza, the firm highlights in its report the area of Es Cubells, in Sant Josep de Sa Talaia, which has an average price per square meter of 7,454 euros and a maximum price of 12 million euros for a luxury home.
The Hiscox report highlights that 10% of the luxury housing stock is concentrated, for its part, in Madrid. The capital has areas such as Recoletos, where the average price per square meter of housing stands at 9,000 euros, with which a property can cost 21 million euros.
Other areas of the capital with luxury homes are Castellana, where the price per square meter is 7,956 euros and the maximum price is 13 million; Jerónimos, where the square meter is 7,575 and the maximum price is 20 million; and El Viso, with 6,992 and 13 million for a home.
Outside the capital, the study highlights the luxurious urbanizations of La Moraleja and La Finca, which stand out for their proximity to the city center. Specifically, La Moraleja, in Alcobendas, northeast of Madrid, is made up of 1,050 single-family homes and 400 semi-detached houses, with an average built size of 700 square meters and valued between 1 and 14 million euros. Its average price per square meter is currently around 5,500 euros.
For its part, La Finca, located in Pozuelo de Alarcón –the municipality with the highest per capita income in Spain–, has homes that have an average surface area of 1,050 euros per square meter and are valued at between 1.5 and 12 million euros, with an average price per square meter of approximately 6,500 euros.
The province of Barcelona concentrates around 6% of the total luxury homes of more than 3 million euros in Spain. Within Barcelona, Hiscox highlights the municipalities of Castelldefels and Sitges as the main luxury areas. By areas, Diagonal Mar (in Barcelona) has an average price of 7,523 euros per square meter and a maximum price of 4 million per home.
It is followed in the same municipality of Barcelona, Pedralbes, with an average price of 6,406 euros per square meter and a maximum price of 25 million; LaDreta de l’Eixample, with a price per square meter of 6,267 and a maximum of 14 million; and Sarrià, with 5,924 and a maximum of 8 million.
In the following positions in the ranking is Sitges and its Vinyiet Terramar area, which has an average price of 5,216 euros per square meter and a maximum price of 11 million euros per home.
And Castelldefels, where its areas of La Pineda and Gavá Mar stand out, with prices per square meter of 5,045 euros and 5,010 euros, respectively, and maximum prices of 5 and 7 million per home.
On its side, the province of Malaga has approximately 2,500 exclusive homes of more than 3 million euros, which represents 34% of the total Spanish market and places the province as its leader, since it is home to the so-called ‘Golden Triangle’, formed by Benahavís, Estepona and Marbella, indicates the report.
Los Monteros (Marbella) is the most expensive area in the province, with an average price per square meter of 6,842 euros and a maximum price for its luxurious villas of 17 million. It is followed by Lomas de Marbella/Puente Romano, with 6,173 euros per square meter and 35 million maximum price.
In Benahavís there is also the urbanization of La Zagaleta, which is considered one of the exclusive ones in Europe. It has a heliport, an equestrian center, cooks or drivers and is located near the sea. Here the average price of luxury homes is 5,804 euros per square meter and a maximum price that goes from 3 to 30 million for a home.
Finally, they are among the last two luxury areas in Marbella, Puerto Banús, where the average price per square meter of housing is 5,240 euros and the maximum price is 15 million; and Las Brisas, with an average price of 5,140 euros per square meter and a maximum price of 14 million.
“The luxury real estate market in Spain is experiencing considerable growth, and more and more high net worth individuals are deciding to invest in it,” says the director of the Art and Private Clients division at Hiscox Spain, Eva Peribáñez.
