Luxury Real Estate in Spain Grows in Volume and Price, Málaga is leading

According to a recent report by Fotocasa and INFINITUM, the supply of properties priced above €800,000 in Spain increased by 150% between 2019 and 2024. The average price of such properties rose by 28%, from €1.56 million in 2019 to €1.99 million in 2024.

The market leaders by region are:

Málaga – 23.2% of luxury properties, with an average price of €2.6 million.

Alicante – 18.9%, with an average price of €1.6 million.

Balearic Islands – 12.7%, with an average price of €2.3 million.

Madrid and Barcelona, which previously dominated this segment, have been overtaken by coastal regions. Currently, Madrid accounts for 8.8% of luxury properties, while Barcelona holds 11.5%.

Among buyers of luxury real estate, Spaniards lead the way (45%), followed by Belgians (15%), Dutch (3%), Swiss (3%), Poles (3%), and Ukrainians (3%).

The report indicates that most buyers purchase luxury properties as secondary residences (53%), while 20% use them as primary homes and 27% view them as investments.

Interestingly, aside from the quality of the buildings and convenient locations, the opportunity to play golf attracts many buyers.