Madrid, Mallorca, Ibiza and the Costa del Sol concentrate the highest prices in Spain. In Mallorca, Costa d'en Blanes (Calvià) reaches €10,026/m², while Palma exceeds €8,500/m² in its most exclusive neighbourhoods.
The luxury real estate market in Spain has its key players, and Mallorca stands out prominently. According to the latest report from idealista, the most expensive areas in the country are concentrated in Madrid, the Balearic Islands, and the Costa del Sol, with prices exceeding €10,000 per square metre in some locations.
In Mallorca, the Costa d'en Blanes urbanisation, in the municipality of Calvià, leads the Balearic ranking with an average price of €10,026/m² and an annual increase of 12.2%. It is followed by Port d'Andratx, with €9,426/m², and Portals Nous-Bendinat, also in Calvià, with €8,899/m². These figures position the island as one of the most exclusive destinations for purchasing high-end properties.
In the capital, Palma de Mallorca, the historic centre and coastal areas also register high prices. La Seu - Cort and Monti-Sion, in the Ciutat Antigua district, reach €8,508/m², while the exclusive Son Vida urbanisation is priced at €8,477/m². Other areas such as Portixol - Molinar (€7,589/m²), Paseo Marítimo (€7,577/m²), and La Llotja (€7,511/m²) complete the luxury residential map in the Balearic capital.
The idealista report highlights that the Balearic Islands as a whole are a magnet for luxury real estate. In Formentera, the average price is €9,002/m², although with a more moderate growth rate. Ibiza, for its part, concentrates multiple 'prime' locations in municipalities such as Sant Josep de Sa Talaia, Santa Eulària des Riu, and Sant Joan de Labritja.
Nationally, Madrid tops the list with the Recoletos neighbourhood (Salamanca district) leading at €11,111/m², although with a slight year-on-year decrease of 0.6%. It is followed by Castellana, at €11,093/m² with a 6.9% increase, and Lista, at €10,612/m² with a 6.2% rise. Other Madrid neighbourhoods such as Almagro (Chamberí), at €10,582/m², and Goya, at €10,390/m², also rank high on the list.
In Barcelona, the Diagonal Mar i el Front Marítim del Poblenou neighbourhood leads with €9,062/m² and an annual appreciation of 15.7%. It is followed by Pedralbes (€8,473/m²) and areas of Eixample and Sarrià-Sant Gervasi. San Sebastián, for its part, maintains its status as the most expensive city for used housing, with Centro-Miraconcha at €8,478/m², Parte Vieja at €7,222/m², and Antiguo at €7,695/m².
On the Costa del Sol, Marbella and Estepona are the benchmarks for the high-end segment. Los Monteros, in Marbella, reaches €8,651/m², while Guadalmansa beach, in Estepona, is priced at €8,407/m². Other areas of Marbella's Golden Mile, such as Lomas de Marbella Club-Puente Romano (€7,695/m²) and Sierra Blanca (€7,359/m²), also feature among the most expensive.
For residents and potential buyers in Mallorca, this data confirms that the island remains a privileged market, with a persistent demand that drives prices upwards, especially in coastal and high-end areas. The price difference between one neighbourhood and another within the same city can be staggering, so it is advisable to compare before investing.
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