The most expensive house in the Canary Islands is located in the city of Adeje and costs €2.8 million. However, experts in this sector claim that it is in the south of Gran Canaria that the majority of elite houses are located.
Idealista has compiled a list of the most expensive properties in Spain in Benahavis in Malaga and Calvia in the Balearic Islands. Their cost exceeds €7 million. However, there is no real estate on the islands that would be included in the top 10 most expensive.
Aitami Rivero, Secretary General of the Canarian Association of Real Estate Management Companies (Acegi), says that the classification is based on the cost of real estate and assures that traditionally it is in the south of Gran Canaria – in San Bartolomé de Tirajana and Mogán – that the largest number of elite property is concentrated.
Aitami Rivero admits that the arrival of Russian high-income citizens in Tenerife caused an increase in demand for premium-class villas and an increase in prices per square meter. In Adeje and neighboring cities, mansions are mainly built for immigrants from Eastern Europe, Maspalomas and Puerto Rico have the largest number of sales and purchases.
The top 10 most expensive properties included five Andalusian properties – all from Malaga, three from Madrid and two from the Balearic Islands. The property completing this top 10 is estimated at €4.6 million, which is more than twice the amount belonging to the most expensive house in the archipelago.