The price of luxury housing in Spain continues to go up. In particular, the Andalusian coast is one of the destinations that most seduce both international and local investors. This has led to luxury housing soaring in price, with the average luxury home in the coastal haven now above 2 million euros.
The luxury sector has experienced a significant upturn in Spain in recent years. In the summer season the coastal areas are those where this growth is most obvious with visitors and investors flocking to the region.
One of the preferred cities for tourists and locals is Marbella, which accounts for a massive 41% of requests from potential buyers looking to buy in Andalusia. This town is followed by Seville, with 16% of enquiries, and Estepona with 11%. The least requested are Zahara de los Atunes and Granada, with 1% and 3% respectively.
The average cost for a luxury property on the Andalusian coast is 2.3 million euros, with luxury property in Marbella once again being the most expensive in the community. In the tourist hotspot the average price of a luxury home is 3.5 million euros.
Luxury properties with a lower average price are found in Granada (900,000 euros), Benalmádena (one million euros), and Sevilla, Sotogrande and Zahara de los Atunes (1.1 million in all three).
Although the sale and rental of luxury properties on the Andalusian coast is spread throughout its territory (from the Costa de la Luz to the Costa del Sol, Costa Tropical and Costa de Almeria) Marbella, Malaga, Estepona and Seville are the cities that take the biggest market share.
Regarding the style of property most in demand by buyers in these areas, villas are the most sought after, with 64% of requests in Marbella and 54% in Estepona, followed by apartments. In third place would be the penthouses, which account for 5% of enquiries in Marbella. Single-family homes in Estepona and Seville attract 11% and 14% of enquiries, respectively.