The best areas for the luxury real estate market
Investing in the luxury real estate market goes beyond acquiring new homes, it is about seeking a personalized and unique lifestyle and quality of life. Therefore, choosing the perfect location becomes an essential factor.
Spain, where the sun shines most of the year and has a great geographical and cultural diversity, stands as an unparalleled destination for those seeking to experience luxury in all its splendor. Here the search for exclusivity becomes an authentic experience and proof of this is the great growth the luxury real estate sector has experienced in recent years.
At Prime Invest we know that investing in high-end properties requires a lot of pampering and insight. That's why in this article we explore the hidden gems and the best areas to buy luxury homes in Spain, highlighting our commitment to excellence in this thriving sector. Let's get started!
Luxury real estate market in Spain: Evolution and current trends
Despite recent interest rate increases and the challenges presented by the pandemic, the luxury real estate market in Spain remains strong and is in an estate of constant evolution and growth, offering investors solid and attractive opportunities.
In fact, the luxury sector represents approximately 5% of the residential market in the country. According to Hiscox’s Luxury Housing Market Report in Spain 2023, during 2022, property transactions worth more than three million euros increased by 55% compared to the previous year.
Furthermore, in the report, we see that in a global context, Spain is positioned as the fourth most important country in the luxury housing market, surpassed only by the United States, the United Kingdom, and Australia. The main reason for being in this ranking is given by the security and great attractiveness that bring foreign investors, mostly from the United Kingdom, Germany, France, LatAm, Russia, and China, to choose our country as a destination for a second home.
Luxury homes in Spain are characterized by their privileged location, the use of high-quality materials, and a focus on people's privacy. These residences offer high-end amenities and feature smart technology systems. In addition, current trends in luxury real estate include kitchens integrated into the living room with high-end appliances and furnishings. Large windows that allow natural light to enter and optimal thermal and acoustic insulation have become essential. Outside, large gardens and infinity swimming pools prevail.
In short, the main characteristic of this type of luxury properties is oriented toward the construction of not only elegant and sophisticated homes but also sustainable and energy-efficient homes.
The best areas to buy a luxury home in Spain
As we have seen in the Report on the luxury housing market in Spain, there is a large supply and demand for luxury homes. Most of the prime properties with a price over three million euros, specifically 80%, are strategically divided between the areas of Malaga, the Balearic Islands, Madrid, and Barcelona. Let's discover each one in detail:
Costa del Sol, best area to buy luxury properties in Spain
The province of Malaga is positioned as a luxury destination and its supply and demand is constantly growing. This is what we have recast from the data obtained from our market study of the real estate sector on the Costa del Sol.
This region of the Malaga coastlines attracts international investors not only for its exceptional climate and beaches but also for exceptional European and international air connectivity. In fact, it concentrates 34% of all luxury homes with a value over three million euros, most of which are located in the well-known Golden Triangle: Marbella, Benahavís, and Estepona.
Among the towns highlighted as epicenters of luxury real estate on the Costa del Sol, stands out the prestigious Golden Mile of Marbella, known for its golden sandy beaches, exclusive restaurants, luxury fashion boutiques, flashy nightlife, and sophisticated lifestyle. Very close to this urban paradise you will find Prime Invest's new construction real estate projects:
- Dunique: Residential complex of apartments located on the beachfront in Las Chapas. From here, you can enjoy panoramic views of a dune reserve of high ecological value, as well as being close to the modern "Beach Clubs."
- Marbella Sunset: An enclave of 16 apartments in Cabopino with sea views and quick access to the golf course, surrounded by lush vegetation and with two common pools to enjoy.
- Santa Clara Homes: A stunning project of 104 three and four-bedroom units located in the vicinity of Marbella to experience luxury living.
On the other hand, Benahavís is a small cosmopolitan municipality located on the Costa del Sol that also invites you to pack your bags and go live there. Known for its mountainous landscape and golden sandy beaches, it has become a highly sought-after luxury destination for investors and buyers. At Prime Invest, as expert consultants in the high-end real estate market, we have also chosen to build different new construction projects in this area such as the Hoyo 19 project or the Gazules del Sol luxury villas.
Finally, Estepona, another of the most sought-after coastal destinations on the Costa del Sol, offers a more relaxed atmosphere than Marbella. It is the second city in volume of development activity in the province of Malaga and with a very active real estate market. Living in Estepona is synonymous with waking up every day at the foot of the Mediterranean Sea experiencing exclusivity and at Prime Invest we have several projects completed, under construction, and future launch:
- The Sapphire: Totally exclusive residential complex located next to the sea on Guadalobón Beach, one of the most luxurious areas in the region.
- Coming soon, Vivace Villas, a collection of 15 contemporary luxury villas on the front line of Valle Romano Golf.
Balearic Islands, the cradle of Mediterranean luxury real estate
We travel to Mallorca, Ibiza, Menorca, and Formentera, where their geography has allowed them to be the center of large luxury homes. You can find your exclusive apartment next to the Mediterranean Sea or a spectacular villa in the interior of the island, surrounded by wild nature. The exclusivity offered by its beaches, the luxurious marinas, and its wide range of leisure and restaurants have favored the development of the luxury real estate sector in the Balearic Islands.
In the attractive Ibiza there are some of the new constructions led by Prime Invest:
- Corallisa Signature Homes: Promotion of 20 private and exclusive villas with views of the Roca Llisa golf course and located on the “Isla Blanca”. It offers security, privacy and luxury in a natural environment of more than 1,000 square meters. With bright interiors, iconic architecture and state-of-the-art technology, this residential complex represents the essence of Ibiza and luxury living.
Madrid, the epicenter of luxury homes
The capital of Spain has become one of the main options for investors and buyers of luxury homes for several reasons: for being one of the main destinations for business tourism, for being the base for the most important multinational business headquarters and for hosting large international congresses were important networking events can be held, among others.
In short, Madrid is the main nerve center of the country and where more and more families are betting on having their residences there. The residential areas recognized as the most luxurious in Spain and with more luxury homes for sale are La Moraleja, Barrio Salamanca, and La Finca. They stand out for the privacy offered to their neighbors, the proximity to the city center, the presence of international schools, sports and social clubs, and the great leisure options.
As you have seen, these are some of the best areas that the luxury real estate market in Spain has to offer. A country that combines tradition and modernity, nature and urbanity, sun and beach, and where you can find the perfect luxury home for every need.
Explore with Prime Invest the best areas for luxury properties in Spain
As we have seen, investing in exclusive prime properties is not only about buying a house, but also about looking for a lifestyle and a privileged and personalized environment. Spain is an unrivaled destination for the luxury real estate market. In addition to representing 5% of the residential market in the country, in the last year it has experienced a 55% growth in transactions over three million euros.
From the sunny Costa del Sol to the exclusive Balearic Islands and the vibrant capital of Madrid, the luxury market in Spain offers a wide range of opportunities. In this context, Prime Invest, as a luxury real estate consultant, is committed to helping you find the perfect home for your lifestyle.
Sustainable architecture, exclusive communal areas, unparalleled views of the Mediterranean Sea, and high standards of quality - would you like to see them firsthand? Contact our team for fully personalized attention, your luxury home is waiting for you!