An increasing number of foreign investors are turning to The Golden Partners, showing interest in luxury Real Estate in Spain for sale.
The luxury market in Spain has proven more resilient to interest rate hikes compared to other segments of the residential market, according to a Tecnitasa report this year, based on market monitoring since 2018. Moreover, the sale of homes over 10 million euros in Spain increased ninefold last year. Many owners of these mansions are unsure where to list them for sale, that is, where to sell them, and likewise, buyers do not know which intermediaries to turn to for purchasing.
Furthermore, beyond inquiring about renting a luxury home through platforms like Airbnb, those interested in Real Estate investment in Spain wish to know the acquisition costs, as well as the maintenance costs and the locations of these mansions in Spain. In this post, we address all your queries about luxury Real Estate in Spain for sale.
First consultation free.
How much does a mansion cost in Spain?
To know how much a luxury Real Estate in Spain costs, it is essential to consider the provincial capitals where luxury homes for sale in Spain are located. For instance, Madrid, Barcelona, San Sebastián, Palma de Mallorca, and Málaga already set prices above EUR 7,000 per square metre (USD 1,636) in their most exclusive areas, whereas four years ago, only three capitals exceeded EUR 6,000 euros (USD 6,545) per m2.
To give you an idea, these were the maximum prices of luxury Real Estate in Spain for sale in January 2024, by Autonomous Communities:
- Galicia: A Coruña (€3,850/m2)
- Asturias: Oviedo (€3,317/m2)
- Cantabria: Santander (€5,500/m2)
- Basque Country: San Sebastián/Donostia (€8,522/m2)
- La Rioja: Logroño (€2,900/m2)
- Navarre: Pamplona/Iruña (€4,500/m2)
- Aragón: Zaragoza (€3,700/m2)
- Catalonia: Barcelona (€10,000/m2)
- Castilla-La Mancha: Toledo (€3,300/m2)
- Castile and León: Valladolid (€4,400/m2)
- Community of Madrid: Madrid (€16,000/m2)
- Valencian Community: Valencia (€5,190/m2)
- Balearic Islands: Palma de Mallorca (€7,500/m2)
- Murcia: Murcia (€4,200/m2)
- Andalusia: Málaga (€7,000/m2)
- Extremadura: Badajoz (€2,300/m2)
- Ceuta: €3,900/m2
- Melilla: €3,150/m2
- Canary Islands: Las Palmas (€5,000/m2)
Cost of a luxury Real Estate in Spain
When thinking about luxury Real Estate in Spain for sale, many investors also wonder about the constant maintenance costs associated with these luxurious villas, mansions, chalets, and spacious apartments. The mere possession of them, even if not rented or occupied, can entail expenses to consider before making the investment.
Some of these associated expenses are:
- Energy supplies: electricity and heating costs.
- Water consumption: which will vary depending on the contracted tariff and the region where the home is located, due to the greater or lesser difficulty of accessing potable water.
- Garden maintenance: the garden needs to be cared for at least once a week. The cost of its maintenance will depend on the mansion’s location, the size of the plot to be worked on, and the climatic conditions of the area.
- Maintenance of the facade and house structure: some expenses, such as the reconstruction or renovation of an affected area, either due to the wear and tear of the years or due to some unexpected event (force majeure), can be very high. Therefore, it is recommended to consult a lawyer specialized in construction defects when detecting any defect after acquiring the property.
- Tax bill: the costs of luxury homes for sale in Spain usually include: property transfer tax (ITP), VAT (10% for new properties), notary fees, property title tax, registration fee, and other legal fees. For more information on these, you can read this post.
The best luxury Real Estate in Spain for sale
Having understood the prices and expenses of luxury homes for sale in Spain, we proceed to explain which are the best you can find in the real estate market this 2024, according to their location:
Barcelona
Located in the vibrant region of Catalonia, Barcelona stands as one of the most coveted cities for investors seeking a destination that combines a privileged Mediterranean climate, a cosmopolitan lifestyle, and architecture that fuses modernity and tradition. Some of the most exclusive areas, such as Pedralbes and Sarrià-Sant Gervasi, stand out for their impressive luxury villas offering panoramic views of the city and the sea, private gardens, swimming pools, and high-end services, all just minutes from Paseo de Gracia and its prestigious shops and restaurants.
Madrid
Madrid, the capital of Spain, is attracting growing interest among Latin American investors seeking profitability in luxury rental properties and also considering settling there thanks to the advantages of the Golden Visa. Exclusive areas of Madrid, such as La Moraleja, Salamanca, Chamberí, El Viso, Chamartín, and Puerta de Hierro, are particularly attractive to these buyers.
Golden Hills in Marbella
Located on the bucolic Costa del Sol, Marbella remains the favourite destination for investors who turn to Golden Partners in search of a place that offers a pleasant climate throughout the year, a luxurious lifestyle, and modern, sophisticated architecture in its buildings.
Some luxury villa areas, such as Golden Hills, are among the most sought-after properties, offering sea and mountain views, private pools, and exclusive services, close to Puerto Banús and various sports facilities.
Sevilla
Sevilla, one of Spain’s most iconic cities, is capturing growing interest among high-net-worth investors seeking profitability in luxury rental properties and also considering settling there thanks to the advantages of the Golden Visa. Exclusive areas such as Los Remedios, Nervión, El Porvenir, Triana, the old town, and the Santa Cruz neighborhood are particularly attractive to these buyers.
Luxury Real Estate in northern Spain
Northern Spain, with its stunning landscapes, temperate climate, and rich culture, has become a coveted destination for high-net-worth foreign investors interested in the luxury rental market. Regions such as the Basque Country, especially San Sebastián, Cantabria with Santander, and the coast of Asturias, stand out for their exclusivity and growing demand. These areas not only offer exquisite properties with sea and mountain views but also an unparalleled quality of life and solid infrastructure. Investing in a luxury home in these areas guarantees not only an exclusive refuge but also an excellent opportunity for long-term revaluation and profitability.
Luxury Real Estate in Guadalajara (Spain) with vineyards
Discover exceptional investment opportunities in luxury homes for sale in Guadalajara, Spain, with their own vineyards. These exclusive properties, located in prestigious areas such as Alcarria and Sigüenza, offer not only a dream residence but also a potential source of income through wine production. Aimed at high-net-worth investors, these residences combine historical charm with modern comforts, ensuring a safe and profitable investment in a region of growing demand.
Consult a Real Estate Lawyer
Do you want to know more about luxury Real Estate in Spain for sale? The best advice for buying a home in Spain, given the large number of bureaucratic and legal procedures involved in the process, is to hire a lawyer specialized in Real Estate.
If you need a specialized lawyer, do not hesitate to trust Golden Partners, as we have extensive experience in the Spanish real estate market. We can assist you throughout the process of acquiring your property in Spain, whether you are in the market research phase, have already made a decision on a specific property, or have already started the buying process.
We are at your disposal through our contact form.
We can assist you in Spanish, English, and French.
