The price of luxury housing rises 37% in five years in Spain

The luxury housing market in Spain has experienced remarkable growth in recent years, driven by the growing demand for exclusive properties and the revaluation of properties in some of the most sought after areas of the country. Since 2019, the average price of properties with a value of more than 3 million euros has increased 37% across the country, according to data from Grupo Tecnitasa. This increase has led the average value of these properties of more than 3.8 million euros in 2019 to almost 5.4 million in 2024, reflecting the consolidation of the luxury market in Spain. In the last year the increase has been 4.5%.

The most exclusive areas: Alicante, Madrid and Barcelona to the head

Although traditionally Balearics, Madrid and Barcelona have been the references of the luxury real estate market, new locations have begun to highlight, such as Alicante, Girona and some areas of the Canary Islands. Alicante, in particular, has seen the largest increase in prices in the last year, with a rise of 9.60%. This increase is due in part to the fact that prices were more accessible than other areas, which has facilitated their revaluation.

Luxury homes for sale in Spain

In contrast, cities such as Madrid and Barcelona, where the luxury market is already well established, have experienced rises of 7.48% and 7.73%, respectively. These areas continue to attract domestic and international buyers for their cultural offer, architecture and privileged locations. In Madrid, neighborhoods like Salamanca and Recoletos stand out as epicenters of luxury, while in Barcelona, areas such as Pedralbes and Eixample remain the most valued.

Balearic Islands: the epicenter of luxury in Spain

The Balearic Islands, however, maintain their position as the region with the highest prices in the luxury segment. According to the Tecnitasa report, the maximum value recorded in the last year was more than 50.6 million euros, located in Pollença. This region remains an attraction point for buyers of high purchasing power, with more than 15% of the luxury homes valued above 10 million euros.

Emerging trends: revaluation and sustainable luxury
The evolution of the price of luxury homes is not only driven by location, but also by new trends that are reshaping the sector. Current buyers value elements such as customization, sustainability and energy efficiency.

This approach to “silent light” reflects a preference for sensory quality and experience, rather than having great signs of wealth. In addition, the boom of sectoral mini-enclaves, communities that group individuals with professions or common interests, is contributing to greater revaluation in certain areas, such as Girona.

The Future of the Luxury Market in Spain

With a global increase of 4.53% in the price of luxury housing, the high-level real estate market in Spain is in a phase of expansion. Trends towards sustainability, customization and the creation of exclusive communities are driving this segment into a new paradigm. In an environment where luxury is constantly redefined, the price of these properties will remain a reflection not only of their material value, but of the quality of life and the experiences they offer to their buyers.