17 Nov, 2023 @ 17:00
1 min read

This town in Malaga province has seen the average property price surpass €2m for the first time – and is now more expensive than Marbella

THE average house price in Benahavís has skyrocketed to over two million euros, making it the most expensive city in the country.

It outstrips even the luxury market in Marbella, which holds the third position nationally with an average property value of €1.54 million.

Idealista reports that Benahavís now leads its ranking of residential markets with the highest relative demand for buying homes, also outpacing Calvià in the Balearic Islands. 

Some properties in this area, famous for its luxurious developments like La Zagaleta, Los Arqueros, and Los Monteros, have been listed for as much as €34 million.

The province of Malaga, particularly the Costa del Sol, commands a significant presence in Spain’s luxury housing market, with six cities in the top 20 national rankings. 

Interestingly, one in three luxury homes in Spain is located in Malaga. 

Some properties in this area, famous for its luxurious developments like La Zagaleta, Los Arqueros, and Los Monteros, have been listed for as much as €34 million.

Estepona, Mijas, Benalmádena, and Fuengirola are among those featured, boasting average property prices ranging from €385,000 to €610,000.

In 2022, the province led the market for homes priced above €3 million, constituting 34% of the national total. 

This was followed by the Balearic Islands and then Madrid and Barcelona. 

“The luxury real estate market in Spain is experiencing substantial growth,” Eva Peribáñez, a director at Hiscox Spain said. 

“Understanding not only the value but also the characteristics and demand for luxury urbanizations and homes is crucial. 

“This knowledge helps us better understand buyers, their priorities, and lifestyle, allowing us to offer tailored services that meet their needs and expectations.”

READ MORE:

Staff Reporter

DO YOU HAVE NEWS FOR US at Spain’s most popular English newspaper - the Olive Press? Contact us now via email: newsdesk@theolivepress.es or call 951 273 575. To contact the newsdesk out of regular office hours please call +34 665 798 618.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Story

‘Concern and alarm’ in Malaga as cost-of-living crisis sees average resident fork out extra €426 each month

Benidorm awash with British expats and tourists lining the streets for annual 'Fancy Dress Party' in Spain
Next Story

IN PICS: Benidorm awash with British expats and tourists lining the streets for annual ‘Fancy Dress Party’ in Spain

Latest from Lead

Go toTop

More From The Olive Press

Mortgage rates in Spain could soon see a drop in good news for homeowners 

Mortgage rates in Spain could soon see a drop in good news for homeowners 

VARIABLE rate mortgage rates could soon fall, as the one-year
Marbella nightclub sells €50,000 bottle of champagne to ‘very important client’

Marbella nightclub sells €50,000 bottle of champagne to ‘very important client’

A MYSTERY customer dug deep into his pocket to pay