Yet again, Benahavis and Marbella topped the national rankings for the most expensive real estate and rentals in Spain in the first quarter of this year. Prices in both localities on the Costa del Sol stood well ahead of the rest of the country. Furthermore, resorts on the Costa del Sol took the lion’s share with 7 places in the top 25 in Spain.
The most expensive real estate in Spain was in Benahavis
The locality of Benahavis is no stranger to the top echelons of price rankings, and Q1 this year was no exception. Yet again, the municipality topped Spain’s list of the most expensive property. Specifically, the average property price came in at over €1.6 million.
The figure is some distance from second-placed Calvià. Property in this high-end location in Mallorca cost an average of €1.2 million between January and March. Marbella stood in the third position – up a place since Q4 2021 with median prices of over €1 million.
It’s worth noting that all prices are average and in localities such as Marbella and Benahavis, properties often cost much more. Those in La Zagaleta and Sierra Blanca are examples, with multi-million-euro price tags common in both.
The Costa del Sol dominates the listings
The latest statistics released by the online portal Idealista show that localities on the Costa del Sol occupied a third of the table. 7 of the 25 places went to coastal resorts from Sotogrande to Rincón de la Victoria.
Sotogrande came in the fourth position. In this area, average prices stood at around €860,000, well ahead of Sitges in fifth place (€677,000). Estepona, Mijas, Alhaurín de la Torre and Rincón de la Victoria took the 14th, 19th, 21st and 25th positions, respectively.
Most expensive rentals in Spain
Three places on the Costa del Sol dominated the table for the most expensive rental properties in Spain. Yet again, Benahavis stood in the first place. According to Idealista, the average rental rate was €2,813 in the last quarter.
Marbella rentals were the second most costly in the country, with an average monthly rate of €2,294. Sotogrande completed the top three with a median rent of €2,217.
Again, all three averages hide much wider variations with rental properties in La Zagaleta and Sierra Blanca costing upwards of €25,000 a month. Double this amount is not uncommon for the most luxurious villas in the area.
Rentals in Estepona have increased considerably in price since Q4 last year. In the first three months of this year, they averaged €1,633 a month, taking Estepona to 7th position in the table, up from 9th.
Mijas rental rates also rose dramatically in the last quarter and at the end of March, stood at €1,158. This figure makes the resort the 15th most expensive place in Spain to rent a property – in Q4 2021, Mijas stood in 20th position in the table.
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