In Spain, when discussing “luxury real estate”, it is always about properties with prices starting at or above $1 million. It is $3 million if we want to talk about the highest level of the premium segment. There are plenty of similar properties available for purchase across the country, but Navarre is one of the best locations. By August 2022, there were 3 luxury properties and 44 premium residential real estate units available on the local market.
According to Idealista, a real estate portal, the vast majority of them were situated in the vicinity of the little town of Gorráiz, as well as Pamplona and its outskirts. Nevertheless, some properties can also be found in Bashtan, Tudela, Milagro, Olite, Esteribar, and Anue.
The magnificent villa Adriana, which is in Beloso, deserves special mention among the magnificent real estate. It was designed by the renowned Spanish architect, Victor Euza. Felix Huarte, a businessman, requested the design of the building in 1934, but the unit went on sale only in 2021. In Anue and Aranguren, there are two more homes in the most expensive category. The one in Aranguren is more expensive, costing €15 million because it contains land reserved for an animal farm.
But besides Navarre real estate, the luxury segment is widely represented in other regions of the country. In total, sales of 7,775 objects were opened for August. Most of them are located in Malaga (2,895), the Balearic Islands (2,497), Madrid (746), Barcelona (439), Alicante (426), and Girona (221).
There is at least one residence in each of the 50 provinces of Spain that costs one million euros or more. However, Idealista and the data provided above state that these properties are unevenly distributed from the geographical viewpoint. As you can see, Malaga, the Balearic Islands, Madrid, and Barcelona have 69% of all available luxury residences.
Regarding the elite sector priced at one million euros, there were around 40,300 homes of this type in Spain at the beginning of August of this year. Once again, Malaga held the biggest share among the country’s regions. It made up 23.3% of all the available luxury housing for sale. It is followed by the Balearic Islands (22.1%), the Community of Madrid (11.8%), and Barcelona (11.6%).
The provinces of Santa Cruz de Tenerife (2.2%), Cadiz (2.1%), Valencia (1.7%), Las Palmas (0.8%), Granada and Vizcaya (0.7% in both cases) complete the top ten provinces with an increasing number of luxury residences for sale.
The list of provinces with the least number of elite properties for sale includes Palencia, with only one house, as well as Teruel (2), Soria (2), Leon (5), Zamora (6), Cuenca (6), Lugo (7), Guadalajara (8), Ourense (9), and Burgos (9).