The climate, culture, lifestyle, safety and leisure offer are the advantages that attract foreign investors in Spain in particular. The market for exclusive properties in Spain is well known and is an attractive and competitive option compared to the likes of London and Monaco. It’s not just about luxury villas. Luxury apartments and penthouses can also be an interesting option.
Within Spain, the Balearic Islands have the greatest demand for exclusive homes. But the region of Madrid, Catalonia and the provinces of Málaga, Cádiz, Girona, Tarragona and Alicante are also popular.
Balearic Islands are popular
In Mallorca, the capital, Palma de Mallorca, and the municipalities of Calviá, Pollença, Bunyola Deyá and Andratx stand out. Ibiza is home to many expensive and luxurious properties in Sant Josep de sa Talaia, Ibiza Town and Santa Eulària des Riu. For investors, factors such as security, strategic geographical location, climate, and communication are important to invest in the Balearic Islands.
The Balearic Islands are the leader in terms of luxury (€3 to €10 million) and super luxury (more than €10 million) homes. The most exclusive areas are the municipalities of Andratx, Calviá, Ibiza, Sóller and Deyá. There are houses of more than €10 million there. Just like in the cities of Marratxi, Palma de Mallorca and Sant Josep de Sa Talaia. Santa Eulalia del Rio has the highest average price on the islands: €27,000/m2.
Luxury properties in the Madrid area
In the Community of Madrid, the luxury houses are mainly located in the capital, in the Salamanca district. Apartments, penthouses and duplexes can cost up to €11 million.
But the cities of Pozuelo de Alarcón, Alcobendas and San Sebastián de los Reyes, in the north of the region, are also famous. In the Madrid region, there are homes of more than €5 million mainly in areas such as Alcobendas, Pozuelo de Alarcón.
Catalonia: pearls in the city and on the coast
In Catalonia, the provinces of Barcelona and Girona have the largest number of luxury properties. In Catalonia, Sitges, Gavá, Sant Adreu de Llavaneres and Sant Cugat del Vallès in the province of Barcelona stand out. In addition, there are beautiful villas in municipalities on the Costa Brava such as Begur, Blanes, Cadaqués, Castell-Platja d’Aro and Sant Feliu de Guixols, in Girona. But of course there are also luxury detached houses, flats and penthouses to be found in the city of Barcelona. There are even homes that cost around €12.5 million. In Girona, you can find homes up to €9.5 million in cities such as Blanes and Castell-Platja D’aro.
Exclusive properties in Andalucia
In the Andalucia region, the province of Málaga stands out. Well-known places on the Costa del Sol are Marbella, Estepona and Benahavís (the golden triangle). In addition, San Roque, in the province of Cádiz, is an interesting and luxurious destination.
Luxury living in the Valencia region
In Alicante and Altea there are houses with a value of around €4.8 million. But, other municipalities such as Jávea and Teulada-Moraira also have homes of more than €4 million.
Investing in this place in the Basque Country is also interesting
It is also interesting to invest in exclusive homes in the Basque Country. Most of the luxury houses are located in San Sebastián, known for its beautiful centre, beach and gastronomy.
Profiles of Luxury Residential Investors
It is mainly foreigners who invest in the luxury segment. Generally, they come from Europe (Germany, the United Kingdom, Sweden or Switzerland). The share of buyers from North and Latin America is rising (including Mexicans, Venezuelans and Americans). North Americans are getting better at finding the Balearic Islands, also thanks to better connections. On the other hand, Latin American investors bet on Madrid, attracted mainly by its standard of living, security, cultural proximity and common language.
According to Luis Díaz, head of the luxury segment at valuation company Tecnitasa, there is a group of investors between 40 and 60 years old, often with a high position in their country of origin. They are looking for a holiday home to enjoy with their family. In addition, they also want to rent out the house. Furthermore, there are the developers who make large investments and rent or renovate and sell exclusive homes after purchase.
The buyers of luxury homes are often very demanding. They want exclusivity, maximum quality and sustainable homes with high-quality installations to serve the home anywhere and anytime.
Also read: Housing prices continue to rise
