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Yet again, property on the Costa del Sol tops the ranking for the most expensive in Spain. Benahavis real estate reigns supreme in the table, heading the most expensive for both purchase and rental in the country. Marbella and Sotogrande also stand tall along with Calviá in Mallorca.
The latest statistics from Idealista ranking Spanish real estate by price in Q3 reveal that the Mediterranean coast remains a firm favourite among buyers. Not for nothing do the Costa del Sol, Mallorca, and Costa Blanca dominate the country’s listings when it comes to buying and renting property.
These locations are not, however, the most sought-after on the Spanish market. The city of Madrid remains at the top of the table in terms of demand, while the Canary Island capitals of Las Palmas de Gran Canaria and Santa Cruz de Tenerife rank in second and third places, respectively.
Benahavis real estate at top of the table
And with some considerable margin. According to figures for Q3, this enclave on the Costa del Sol has the most expensive property in Spain, with the average home costing at least €1.8 million.
However, this medium price for property in Benahavis hides vast variations within the municipality. In La Zagaleta, for example, properties cost at least €5 million and price tags of €12 million upwards are commonplace.
Renting a property in Benahavis also turns out to be the most expensive in Spain. Between July and September this year, the average rental in the municipality cost €3,260 per square metre. The figure is around 15% higher than neighboring Marbella, the second highest in the table.
Property in Marbella third most expensive in Spain
Marbella real estate regularly ranks among the priciest in the country and Q3 is no exception. In the three-month period, property cost an average of €1.3 million, the third highest in Spain after Benahavis and Calviá in Mallorca.
However, like Benahavis real estate, the figure is considerably higher in sought-after areas of the resort such as Sierra Blanca and the Golden Mile.
Regarding rentals, Marbella also sits in the third position behind Benahavis and Calviá. The average square metre in the resort costs €2,838, just €1 behind the average for the Mallorcan town.
Other Costa del Sol locations on the map
The Q3 figures also include other enclaves on the Costa del Sol.
This residential area at the far western end has the fourth most expensive property in Spain for both purchases and rentals. The average price in Sotogrande costs €919,000, although many villas change hands for considerably more.
Rentals in Sotogrande rank among the country’s most expensive and cost an average of €2,353 per square metre a month. Along with Benahavis and Marbella, Sotogrande rentals join four other locations in Spain (Calviá, Castelldefels, Llucmajor, and Estepona) with monthly rates in excess of €2,000 per square metre.
This resort ranks in 13th position in the top 100 most expensive places to buy property in Spain, with the average home costing €549,709. When it comes to rentals, however, Estepona rises to 7th place with monthly rates at €2,042 a square metre.
Mijas and Benalmádena
Both rank in the top 20 most expensive places for real estate in Spain. Mijas sits in 16th position with an average of €425,977, and Benalmádena in 18th, with property costing €380,171 on average.
Discover the world of Costa del Sol property
If buying real estate in Benahavis, Marbella, or anywhere on the Costa del Sol is on your must-do list for 2022, get in touch with our expert team. We’ve been helping buyers find the perfect property for over two decades, so we know more than a thing or two about the area and market.