The number of real estate transactions with a value exceeding 3 million euros, considered luxury properties, reached 8,000 last year, representing a 55% increase compared to 2021 and a 100% increase compared to 2019, reports La Vanguardia. This growth is largely driven by the interest of foreign buyers, according to the insurance company Hiscox.
British, German, and French buyers occupy the top three positions. Russians, along with Latin Americans and Chinese buyers, are among the most active nationalities as well. Although, they have been withdrawing from the market following the Ukraine invasion. It is stated in Hiscox's report, that Russians also started selling their properties in Europe. Besides, Hiscox notes that, on the Costa del Sol and the Catalan coast, American and Middle Eastern buyers are gaining ground in the overall market.
In Spain, there are 40,295 homes for sale with prices exceeding one million euros, concentrated in four areas. Málaga accounts for 23%, followed by 22% in the Balearic Islands, and 12% each in Madrid and Barcelona. These four provinces represent 70% of all available properties above one million euros, and 80% when the price exceeds three million. Alicante is the fifth province with the highest number of homes priced above one million euros, accounting for 10.6%, followed by Girona with 5.5%.
British, German, and French buyers occupy the top three positions. Russians, along with Latin Americans and Chinese buyers, are among the most active nationalities as well. Although, they have been withdrawing from the market following the Ukraine invasion. It is stated in Hiscox's report, that Russians also started selling their properties in Europe. Besides, Hiscox notes that, on the Costa del Sol and the Catalan coast, American and Middle Eastern buyers are gaining ground in the overall market.
In Spain, there are 40,295 homes for sale with prices exceeding one million euros, concentrated in four areas. Málaga accounts for 23%, followed by 22% in the Balearic Islands, and 12% each in Madrid and Barcelona. These four provinces represent 70% of all available properties above one million euros, and 80% when the price exceeds three million. Alicante is the fifth province with the highest number of homes priced above one million euros, accounting for 10.6%, followed by Girona with 5.5%.