Benahavis property turns out to be the most expensive in Spain for yet another quarter. Recent research by the real estate portal Idealista finds that homes in this part of the Costa del Sol top the national rankings by a considerable margin. And locations on the Costa del Sol take eight positions in the top 25 most expensive places to buy a property in Spain.
Benahavis property averages at over €1.5 million
Idealista compiled the table of the most expensive places to buy in Spain based on listings on the portal during the last three months of 2021. The locality of Benahavis and specifically La Zagaleta sit at the top of the rankings, well ahead of everywhere else in Spain.
The research finds that property for sale in La Zagaleta in Q4 last year had an average price of €3,583,440. The figure is well ahead of Calvia in Mallorca, second in the table, where real estate comes in at an average of €2,177,971 per property.
8 locations on the Costa del Sol in top 25
Costa del Sol real estate dominates the national rankings. A total of eight locations in the area stand in the top 25. They include Marbella in its usual fourth position and Sotogrande in fifth. Homes in Marbella cost just under €1 million on average, while those in Sotogrande come in at slightly less than €800,000.
Further down the list in 14th place is Estepona, where property averages €458,800, completing the so-called Golden Triangle (Benahavis, Estepona and Marbella) of the best property on the Costa del Sol.
In positions 20, 21, 23 and 25 are resorts in central and eastern Costa del Sol, namely Mijas, Alhaurín de la Torre, Benalmádena and Rincón de la Victoria, respectively. Both Alhaurín de la Torre and Rincón de la Victoria are new to the listings of the most expensive property in Spain. In the former, properties average €346,565 and in the latter, €318,565.
Most expensive rentals in Spain
The Costa del Sol rental market mirrors general sales and many locations in the table for most expensive property reappear in the listings for priciest rental properties. As a result, Benahavis tops the table again – tenants can expect to pay an average of €4,709 a month for a rental property in La Zagaleta.
Marbella and Sotogrande take second and third places, albeit with rental rates that are somewhat lower than those in Benahavis. Rents average €2,130 a month in Marbella and €2,119 in Sotogrande.
When it comes to rentals, Estepona takes a higher position in the table than it does for property prices. The resort sits in ninth place with an average monthly rent of €1,465. Closing the top 10 is Alhaurín de la Torre, whose rental properties enter the table for the first time with a median price of €1,347 a month.
Excellent potential for buy-to-let
At Realista, we believe the latest figures for Benahavis, Marbella and Estepona continue to reflect the clear demand for real estate in this part of the Costa del Sol. Certainly, the statistics for rental rates show the potential for return from buy-to-let properties in the area.
However, solid returns are only possible from the right properties in the right locations. And to find them, you need thorough local knowledge and comprehensive market insight. Our team at Realista provides both of these – we’ve been helping foreigners buy the perfect property on the western Costa del Sol since 1992, so we know a thing or two!
If you’re looking at the area to buy for your own use or to let as a rental, get in touch and we’ll find the property to tick all your boxes.