PROVINCE OF MÁLAGA – In an era when luxury real estate is increasingly attracting the attention of the global elite, there is a small town in the province of Málaga where the average house price is reaching new heights in the Spanish real estate market.
With an average house price exceeding €2 million, this city is establishing itself as the most expensive residential resort in all of Spain. Nestled in the shadows of rolling hills and lush golf courses, this place is home to some of Europe’s most luxurious urbanisations, such as La Zagaleta, Los Arqueros and Los Monteros.
With beautiful villas coming to the market for prices of up to €34 million, it is no surprise that this town, Benahavís in Málaga, is known as a symbol of exclusivity and wealth. After Benahavís, Calvià follows with an average house price of €1.6 million and Marbella with €1.54 million.
Málaga’s role in the luxury housing market
The province of Málaga, with Benahavís at its heart, plays a key role in the Spanish luxury real estate market. Cities such as Marbella, Estepona, Mijas, Benalmádena and Fuengirola contribute to the Costa del Sol’s reputation as a haven for the wealthy, with prices for properties ranging from €385,000 to €610,000.
A third of Spain’s luxury homes are in Málaga
According to recent reports, Málaga is the leader in the market for properties above €3 million in 2022. With 2,500 of these luxury homes, the province is home to 34% of the national total. This highlights the appeal of Málaga, and Benahavís in particular, as a magnet for those seeking opulence and exclusivity.
The rising popularity of luxury real estate
With an impressive number of almost 2,900 real estate transactions above €3 million in 2022, Málaga, with Benahavís at the forefront, is a hotspot for real estate investors with deep pockets. This increase reflects a growing interest in luxury real estate in Spain.
Concept of a lifestyle
According to experts quoted by Malaga Hoy newspaper, the growth of the luxury real estate market is not just about accumulating wealth, but also about understanding the lifestyle and priorities of buyers. Benahavís and other coastal towns in the province of Málaga offer what the wealthy are looking for: exclusivity, luxury, a wide range of facilities, such as golf and high-end catering, and thus a reflection of their status.