Spain’s luxury property market continues to go loco – these are the areas where prices have shot up the most

According to new data, the price of luxury homes in Spain has risen 15% in the last year.

The research reveals that Spain’s top-tier properties – defined as the most expensive 10% of homes on the market – now command prices starting from €860,000.

North Spain has surprised many. Luxury property prices in Oviedo have risen by 43% within a year. 

Even markets that were previously affordable are now experiencing unprecedented demand.

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Guadalajara comes in second with an increase of 35%. Madrid’s luxury property values have risen by 28%. 

The capital’s resilient market continues to attract both domestic and international buyers, with the threshold for luxury properties now set at €1.85 million.

San Sebastian is the third best performer with a rise of 26%, confirming the Basque City’s status as one the most sought-after property markets in Spain. 

Lugo, Las Palmas de Gran Canaria and other cities also saw growth of 22%.

The definition of luxury in Spain’s varied property market varies greatly. 

Palma tops the rankings as the country’s most exclusive market, where only properties exceeding €2.1 million qualify for the luxury segment. 

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The Balearic Capital is the only Spanish city in which luxury property starts above two million euros.

Barcelona, traditionally one of Spain’s priciest markets, has shown more moderate growth at 8%, with luxury properties starting at €1.29 million. 

Meanwhile, Malaga has crossed the million-euro threshold for luxury homes, now standing at €1.045 million.

At the opposite end of the spectrum, Zamora offers the most accessible entry point to luxury living, with top-tier properties beginning at just €240,000. 

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Other affordable luxury markets include Palencia at €290,000 and Huelva at €293,250.

Provincial data shows even more contrasts. Baleares leads with luxury properties starting at €2.95 million, followed by Malaga province at €2.2 million. 

Madrid province, despite the capital’s high prices, begins its luxury segment at €1.56 million.

Remarkably, Ciudad Real province offers the lowest barrier to luxury property ownership, with homes exceeding €225,000 considered part of the exclusive segment.

This is due to the fact that Spain continues to attract international buyers, especially from Northern Europe. It also reflects a strong demand domestically, fuelled by an economic recovery and historically low rates of interest. The rapid rise in prices is raising questions about affordability and housing availability across the country.

Soria was the only city to defy the national trend and record a 9% drop in luxury property values, while Ceuta’s remained unchanged. Toledo, Santa Cruz de Tenerife and Pamplona all saw modest increases, with each increasing by only 4%.

The data was compiled by the research division of Idealista. It analysed all Spanish provinces and capitals. Prices were compared between May 2024 to May 2025 in order to follow the evolution of luxury markets.