Lucas Fox Spanish Real Estate Market Report / First half 2023
THE SUPPLY OF PRIME PROPERTY
According to our research, the first half ended with approximately 13,300 prime properties listed for sale* in Spain and Andorra with a price tag of €2.5m or more, almost 2% of the overall supply of 650,000 homes on the market. The supply of prime properties is highly concentrated in a few Spanish regions, with 97% of the offer located in just 9 provinces (out of 50) plus Andorra.
Malaga province in Andalusia, home to Spain’s flagship upmarket seaside resort Marbella, has the biggest supply of prime properties for sale with 4,413, followed closely by the Balearics with 4,327, and Madrid some way behind with 1,238. The prime segment was 15% of the local market in the Balearics, 9% in Malaga, 3% in Madrid, and less than 1% in 80% of Spanish provinces.
*@ Idealista
PRIME PROPERTY STOCK BY TOP TEN LOCATIONS Prime stock for sale (price €2.5m or more) broken down by provinces and Andorra. Source: Idealista
9
6
4
3
33.2% 32.5%
MÁLAGA BALEARICS MADRID BARCELONA ALICANTE GIRONA CÁDIZ TENERIFE ANDORRA REST
1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
2
9.3% 6.7% 6.6% 3.4% 2.3% 1.8% 0.9% 3.2%
5
1
7
8
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